Pay for Study Abroad Programs with NextStudent’s Parent Loans for Undergraduate Students
With the advent of the Internet and international communications booming, college-sponsored study abroad programs are becoming a more important aspect of higher education. These programs, which once were geared toward language and international study majors, have become a “college experience” staple and a chance for students to really immerse themselves in another culture to learn more about our global neighbors.
According to NextStudent, the Phoenix-based premier education funding company, Parent Loans for Undergraduate Students, popularly known as Federal PLUS Loans, are a smart way to pay for study abroad programs. The PLUS Loan is available to parents year-round, even if tuition and most other education expenses have been paid. Additionally, the PLUS Loan is not a need-based loan—just about everyone qualifies for this type of loan. However, a student must have filed the FAFSA in order for the parent to be eligible for a PLUS Loan.
Generous Borrowing Limits Offered for PLUS Loans
With a NextStudent PLUS Loan parents can borrow up to the entire cost of their child’s education (less any financial aid), including books, supplies and even study abroad programs. The trick is that the study abroad program must be sponsored by an accredited college in the United States. Because these loans are funded by the federal government, the interest rates are set by the government, and all private lenders that offer these loans must offer the same interest rate. However, private lenders distinguish themselves by the benefit packages they offer to prospective borrowers—in this case to parents.
PLUS Loan Benefits Offered by NextStudent
Most PLUS Loan applicants qualify within minutes when they apply online with NextStudent’s simple application process with E-Signature. There is no grace period for PLUS Loans and repayment begins within 60 days after the loan is fully disbursed. However, PLUS Loans are eligible for the Federal Consolidation Loan Program. Additionally, a parent can consolidate PLUS Loans from different children, as long as each loan is taken out under one parent’s Social Security number.
When a parent qualifies for a PLUS Loan through NextStudent they receive the following benefits:
A 3 percent cash rebate on the remaining principal balance of a loan after the first 12-months of consecutive on-time payments
A 2 percent interest rate reduction after the first 48 months of consecutive on-time payments
A .25 percent interest rate reduction for electing to use Auto-Debit
Study aboard programs can have a positive impact on a student’s college experience. The benefits aren’t just academic, they are social, personal, intercultural, and they look great on a resume!
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans at http://www.nextstudent.com/.
According to NextStudent, the Phoenix-based premier education funding company, Parent Loans for Undergraduate Students, popularly known as Federal PLUS Loans, are a smart way to pay for study abroad programs. The PLUS Loan is available to parents year-round, even if tuition and most other education expenses have been paid. Additionally, the PLUS Loan is not a need-based loan—just about everyone qualifies for this type of loan. However, a student must have filed the FAFSA in order for the parent to be eligible for a PLUS Loan.
Generous Borrowing Limits Offered for PLUS Loans
With a NextStudent PLUS Loan parents can borrow up to the entire cost of their child’s education (less any financial aid), including books, supplies and even study abroad programs. The trick is that the study abroad program must be sponsored by an accredited college in the United States. Because these loans are funded by the federal government, the interest rates are set by the government, and all private lenders that offer these loans must offer the same interest rate. However, private lenders distinguish themselves by the benefit packages they offer to prospective borrowers—in this case to parents.
PLUS Loan Benefits Offered by NextStudent
Most PLUS Loan applicants qualify within minutes when they apply online with NextStudent’s simple application process with E-Signature. There is no grace period for PLUS Loans and repayment begins within 60 days after the loan is fully disbursed. However, PLUS Loans are eligible for the Federal Consolidation Loan Program. Additionally, a parent can consolidate PLUS Loans from different children, as long as each loan is taken out under one parent’s Social Security number.
When a parent qualifies for a PLUS Loan through NextStudent they receive the following benefits:
A 3 percent cash rebate on the remaining principal balance of a loan after the first 12-months of consecutive on-time payments
A 2 percent interest rate reduction after the first 48 months of consecutive on-time payments
A .25 percent interest rate reduction for electing to use Auto-Debit
Study aboard programs can have a positive impact on a student’s college experience. The benefits aren’t just academic, they are social, personal, intercultural, and they look great on a resume!
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans at http://www.nextstudent.com/.
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