by NextStudent Education Finance Advisors
Student loan borrowers spend countless hours attempting to figure out the best way to finance their college education, including finding the best rates and deals available from lenders. Sometimes the best deals are not those that just sound great over the phone but are backed by the solid standing and integrity of the lender and its representatives. If ever there is any doubt, it is best to have the company put the facts in writing.
Since students and their parents have so many student loan options from which to choose, it is important that borrowers carefully review their choices and select a reputable lender. Such character qualities as a proven track record of honesty, excellent customer service, and a history of providing helpful information over high-pressure sales pitches are essential, according to NextStudent, the Phoenix-based premier education funding company.
Top-Notch Training Sets Standard
When students or their parents contact NextStudent they are assigned a personal NextStudent certified Education Finance Advisor. The EFA will answer all their questions and provide guidance through the often confusing student loan jungle. This ensures that borrowers receive the highest level of customer service and equips them to make the best decisions based on their individual goals and objectives for college.
With NextStudent’s emphasis on outstanding customer service and dedication to making college funding a simple, easy process, the company places high demands on its EFAs to adhere to that standard. Therefore, becoming an EFA is much more than being hired as a talented telemarketer with closing skills and getting on the phone. EFA candidates start with four weeks of in-depth training, which include both classroom time and live calls made under the direct supervision of their managers. In order to assist customers, representatives must test at 90 percent or better, or else they continue to practice their skills until that score is attained.
Next, EFA candidates spend a rigorous six months of on-the-job training in order to become NextStudent certified in each of the four product areas: NextStudent’s Student Loan Consolidation, Private Student Loans, Federal PLUS Loans and Stafford Loans. They are not able to take incoming calls from NextStudent customers until they have demonstrated specific mastery in each area.
Quality Assurance, Promotion from Within Maintain Standard
Borrowers may be confident that they are receiving accurate information when dealing with a NextStudent Education Finance Advisor, as all EFAs carefully are monitored on a weekly basis, both directly by their floor managers and through the Quality Assurance Department.
The NextStudent certified Education Finance Advisor training program and its comprehensive quality assurance measures backed by some of the most advanced proprietary student loan technology on the market ensure that borrowers receive the premier level of service in the industry. Whether that means educating students as to their federal aid entitlements or selecting the best incentive package for their consolidation loan, borrowers can be rest assured that NextStudent EFAs are helping them make the best decisions for their college financial aid needs.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/.
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/.
For years, NextStudent, a Federal Family Education Loan Program (FFELP) participant, has been a major proponent of student loan benefits, assisting college students and their parents in funding their college dreams and helping them save thousands in new and consolidated loans in the process, according to the Phoenix-based premier education funding company.
In the past three years alone, 4,653,000 students have consolidated their federal student loans through FFELP lenders, receiving generous discounts and incentives that have placed these students on stable financial ground. Unfortunately, that may change shortly if proposed student loan legislation becomes law.
Benefits, Freedom to Choose at Stake
Currently, student borrowers have the ability to choose their lender and select the company that has the best reputation, customer service record and savings. If proposed student loan legislation becomes law, borrowers no longer will have the right to choose and would have to go with the federal government’s Federal Direct Lending Program (FDLP), which passes on very little real savings to borrowers.
When the government initiated the FDLP almost 17 years ago, proponents claimed that since private lenders would be cut out of the picture and consumers would deal directly with the government for loans, taxpayers would save. That has not proved to be the case; in fact the opposite is true. The FDLP has not saved taxpayers any money, but rather is operating at a $16.5 billion shortfall, a tab most likely to be picked up by taxpayers.
Using the government’s own accounting figures, cutting private lenders out of the equation actually may harm borrowers. When private lenders compete for business, they offer generous savings, discounts and other incentives that save students thousands of dollars over the course of their student loans.
NextStudent is a Champion for Student Savings
NextStudent began offering discounts and incentives to serve more customers. This move ultimately benefited borrowers by expanding these same benefits and savings industry-wide. NextStudent also became a major proponent in saving students thousands through the outstanding incentives offered through its federal consolidation loan program. For instance, NextStudent’s Standard Locked Federal Student Loan Consolidation Package offers a generous 1 percent LOCKED RATE reduction after borrowers make 36 consecutive on-time payments.
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/.
Now that spring break is a gently fading blip on college students’ radar, many students are prone to coast through the final weeks of the semester and forget about more serious considerations like planning for next year. High school seniors are in a different boat altogether, diligently working their way through their first Free Application for Federal Student Aid (FAFSA). In their case, it is wise for students and their parents to monitor where they are in the college funding process and plan accordingly, according to NextStudent, the Phoenix-based premier education funding company.
Complete FAFSA as Soon as Possible
NextStudent, a Federal Family Education Loan Program (FFELP) participant, encourages all students to fill out the FAFSA as soon as possible if they have not done so already. While it is not too late to apply, it is best to submit the FAFSA sooner rather than later. The closer the FAFSA is submitted to Jan. 1, the greater a student’s chance of getting the required financial aid, since some student loans are on a first-come, first-served basis.
Financial Aid Calendar
High school seniors shortly will begin receiving their acceptance letters, usually prior to May 1. In addition, students will receive an Award Letter from each of the schools to which they have been accepted that explains the type of aid and amounts for which they qualify.
In May, it is time for students to select the college they wish to attend and begin applying for such federal financial aid as Stafford loans and Parent Loans for Undergraduate Students (PLUS). Both types of aid are available through NextStudent and include a personally assigned Education Finance Advisor who will guide borrowers through the loan process from start to finish. To fill in the funding gap, private student loans also are available, with borrowing limits of up to $40,000 annually.
Online Tools Make Planning Easy
Another equally important avenue for students to explore is FREE money in the form of scholarships that can help cut the costs of financial aid that has to be repaid. NextStudent offers a FREE Scholarship Search Directory that has a total of 2.4 million scholarships from 42,000 funding sources with total awards of $3.4 billion.
There are many other resources that students may use to ensure that they quickly and easily navigate the financial aid process and receive the funds they need to achieve the education of their dreams.
First, students may want to review the following financial aid calendar to see where they are in the process so they can be sure they are on track for the upcoming school year:
Second, students may have specific questions regarding financial aid and their best options. To find these answers quickly and easily, visit the student resouces center. For an overview of college financial aid, where borrowers will receive a “guided tour” from a Financial Aid Advisor. Finally, once borrowers have assembled their entire financial aid package and know the types and amounts of aid for which they qualify, it is time to revisit their first-year college budget. NextStudent offers a FREE College Budget Calculator.
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/.
The NextStudent Student Loan Blog celebrates its second anniversary this year, and with the recent political changes in Washington continually propelling the student loan industry to the forefront of political debate, its purpose as an excellent watchdog of student loan news and changes in federal student loan policy is more relevant than ever.
Originally created in December 2005 as an additional educational resource for NextStudent customers interested in how legislation and Department of Education developments affect their college loans and financial aid, the blog’s very first post, titled “Start Applying for Financial Aid as early as Jan. 1,” helped kick off NextStudent’s commitment to technology and the role the Web plays in consumer education and real-time information gathering. NextStudent is a Phoenix-based premier education funding company.
Be In-The-Know About Student Loans
The NextStudent Student Loan Blog reports on student loan industry changes, as well as changes in policy that affect other areas of student life, including early decisions, “College Decides to Nix Early Binding Admissions,” and sports, “College Sports to Be Taxed?” and on student life. On the following days the blog covers the following topics: Monday, “Student Loan News;” Tuesday, “This Week in Student Loans;” Wednesday, “Student Loan Legislation;” Thursday, “Student Loan Advice;” and Friday, “Campus Life.”
The NextStudent Blog references industry periodicals including the National Council of Higher Education Loan Programs’ (NCHELP), Daily Briefing. The financial aid process in the United States can sometimes become a tangle of changing interest rates, applications and deadlines. However, NextStudent’s Student Loan Blog can help students and parents contextualize certain industry practices because it highlights the federal regulation discussions and changes that make the student loan industry so dynamic.
Families Get More with NextStudent
NextStudent’s personalized service extends beyond the Web experience and into the offline experience as well. Every customer who contacts NextStudent is assigned a personal Education Finance Advisor to walk them through the financial aid process from beginning to end and answer any and/or all questions about financial aid.
Additionally, NextStudent got its start promoting higher education and the search for scholarships and holds steadfast to its roots by offering a free Scholarship Search Engine that houses more than 42,000 college funding sources for over 2.4 million individually awarded scholarships valued at more than $3.4 billion. NextStudent knows the financial aid process begins with the search for “Free Money” and that scholarship programs help millions of students fund their college education dreams.
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.
There is no question that college costs are escalating beyond the ability to pay for even those of modest means without taking out student loans. New proposed student loan legislation is under consideration to lower interest rates but yet has not been enacted. In addition, individual schools from Ivy League universities to community colleges are implementing their own unique policies and programs to help students finance their college education so they avoid further debt.
One simple but often overlooked method for making college more affordable regardless of the institution of choice is for students to become their own college funding resource by locating scholarships for school, according to NextStudent, the leading Phoenix-based education funding company.
Commitment to Research Results in Rewards
Students and their parents who make a commitment to perform exhaustive searches to find the funds they need for school may be surprised at how much FREE money they uncover, even though finding it may take some time. However, the investment may prove to be well worth it, as it will facilitate having to borrow fewer funds for college. A key resource to locate scholarships is NextStudent’s free, online Scholarship Search Directory.
Ample Resources for Funding College Education
Locating the perfect scholarship portfolio to help finance college is a simple, easy process when using the Scholarship Search Directory. With more than 2.4 million scholarships valued at over $3.4 billion from 42,000 sources, college students have innumerable choices when applying for awards.
Planning Reaps Results
While there certainly is no right or wrong way to go about it, if students search the directory in a systematic, thorough manner they will have a better chance of receiving the scholarships that best fit their needs. Here is a suggested process to follow:
Start by searching for the college of attendance and the year of attendance by clicking on the “College(s)” and “Year of Study” links, respectively.
Next, students may search according to their “State of residency” and then their parents’ “Corporate Employer(s).”
Third, sort through the scholarships by “Academic Major.”
Lastly, students may explore the remaining categories that apply to their particular situation. Examples here include: “Artistic Skill(s)” or “Athletic Skill(s),” “Honor(s),” “Ethnic Background(s)” or “Racial Background(s),” “Military or Veteran Affiliation(s),” “Religious Affiliation(s)” and “Other Affiliation(s).”
Specific Awards for Specific Situations
In addition, there are other individual categories suited for students who have specific needs. These include scholarships for those who fall under such categories as “Impairments” which include chronic medical conditions and other ailments, and even a category called “Unique Situation.” This particular category is one that often is overlooked by scholarship applicants. It includes awards to former students of a particular county school, awards for exchange students, or those with part-time or full-time jobs, and such unique awards for those who have been home-schooled or are Amateur Radio (Ham) Operators.
No matter what circumstances students are in or where their background, interests and talents lie, there are many opportunities for FREE money to be found through NextStudent’s Scholarship Search Directory. By dedicating a generous amount of time to find these awards, students may avoid having to borrow a significant amount of money to fund their college education.
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.
This time of year is rife with high school seniors deciding which colleges they will attend the following year. Additionally, many other students are awaiting the approach of July 1, 2007, the date when new rates for existing variable rate student loans may take effect.
NextStudent, a leading Phoenix-based education funding company, recommends that borrowers begin to consider their student loan consolidation options as early as possible to lock in the best rates and terms. When students with multiple student loans consolidate their student loans with NextStudent, they are simplifying their lives with only a single payment required for their student loan portfolio. By consolidating, it is possible to reduce monthly payments by up to 60 percent and eliminate the hassle of dealing with multiple payments to different lenders. Do Your Homework When Selecting a Consolidation Lender
Many borrowers use their colleges’ recommended lenders, more commonly referred to as the Preferred Lenders List, to select their consolidating lender. Instead, it is wise to check out ALL options, starting with a college’s financial aid office. Ask the financial aid administrator for a list of lenders in addition to the preferred or recommended lender list, and then research each company. In other words, do your homework, and do it well.
Since there are many significant differences with respect to the character, ethics and quality of a lender, borrowers must be selective and carefully choose their lender. They may want to consider and compare the reputation and integrity of the company, level of customer service provided, and the individual student loan consolidation incentives offered.
Students Benefit with NextStudent’s LOCKED Discount
Since the federal government sets the base interest rate on student loans, the only differences with consolidation loans are the incentives offered by each individual company. NextStudent is committed to providing outstanding customer service and the best incentives in the industry. In its efforts to extend significant savings to borrowers, NextStudent offers a 1 percent LOCKED interest rate reduction after 36 consecutive on-time payments.
Guaranteed for life. NextStudent borrowers retain their 1 percent LOCKED benefit for the life of the loan, while other lenders may revoke their benefits for a single late payment.
Easy to qualify. With NextStudent, borrowers maintain eligibility for the 1 percent LOCKED interest rate reduction even if they go into deferment or forbearance. Other lenders may disqualify borrowers for their benefits under these circumstances.
The following are two of NextStudent’s consolidation benefit packages from which students may choose to fit their particular circumstances and preferences.
NextStudent’s Federal Consolidation Loan Benefit Packages:
Package #1
.25 percent interest rate discount for Auto-Debit payments
1 percent LOCKED RATE reduction after 36 on-time payments
Package #2
.25 percent interest rate discount for Auto-Debit payments
2 percent interest rate discount after 36 on-time payments (not locked)
Qualifying over the phone takes just a few minutes with the assistance of a borrower’s personally assigned Education Finance Advisor, who is there to answer any questions and guide the student through the entire student loan consolidation process.
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/.
