Student Consolidation: NextStudent's Student Loan Consolidation Program Offers Great Rates, Benefits

Many college students rushed to consolidate their student loans prior to July 1 when federal interest rates sharply increased. According to Phoenix-based NextStudent, there is hope for those student borrowers who missed the deadline, as rates as low as 4.5 percent are available when accompanied by aggressive benefits and incentives.

Federal student loan consolidation is a smart choice for student borrowers, as loans are bundled together into one loan to help make monthly payments more manageable. Since consolidation interest rates are lower than current rates on student loans, federal student loan consolidation also saves student borrowers money that can be put toward other important items.

Applying for student loan consolidation with NextStudent is simple. The no-hassle application is an easy four-step, all-digital application process done directly online with Electronic Signature. The process is fast and there are no credit checks and no co-signer is needed. With NextStudent's program there never are fees or charges, and there is no prepayment penalty on student loan consolidation.

When student borrowers consolidate with NextStudent's federal Student Loan Consolidation program, they receive a host of benefits and incentives including: a savings of .60 percent when loans are consolidated right after graduation or during other eligible grace periods; an interest rate reduction of .25 percent when borrowers repay through Auto Debit; and an additional rate reduction of 1 percent that is locked for the life of the loan following the first 36 consecutive on-time payments, OR a reduction of 2 percent following 48 consecutive on-time payments.

Student borrowers may choose a repayment term as long as 30 years, depending on the balance of the borrower. A variety of repayment plans are available. Borrowers can choose from plans that include graduated and income-sensitive repayment. There also are deferment and forbearance benefits available.

The July 1 deadline to consolidate at last year's rates has come and gone, but student borrowers still have a host of great options through NextStudent. Student borrowers have choices, and it is best now to take advantage of student loan consolidation to bring together various bills for one monthly payment and, at the same time, help lower monthly payments to make life easier and more manageable.

About NextStudent

NextStudent, http://www.nextstudent.com/ , federal lender code 834051, is dedicated to helping students and their families find affordable ways to pay for college. NextStudent offers one-on-one education finance counseling and has a portfolio of highly competitive education finance products and services including a free online scholarship search engine, federally guaranteed parent and student loans, private student loans , both federal and private student loan consolidation programs, and college savings plans.

The NextStudent Scholarship Search Engine , one of the nation's oldest and largest scholarship search engines, is updated daily, available free of charge, completely private -- and represents 2.4 million scholarships worth $3.4 billion.

For more information about NextStudent and its student loan programs, please visit the company's Web site at http://www.nextstudent.com/ .