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Student Loan Consolidation.
Consolidate your student loans, and you could cut your student loan payments in half.
Attention, federal student loan borrowers! Right now, NextStudent can help you substantially lower your monthly student loan payments and put loads of extra cash in your pocket with the Federal Student Loan Consolidation Program.» Learn more.

Lock in low monthly payments with a fixed interest rate
Bundle all your federal student loans into one easy-to-manage loan with one monthly payment
No application fees, origination fees or prepayment penalties
Easy, online application with Electronic Signature


Do the math.
Federal student loan rates are low right now, but consolidating your student loans with NextStudent could help you lower your student loan payments even more.

And when you consolidate your student loans, you could get more time—up to 20 more years—to repay.

How much can you save? Use our consolidation loan calculator to find out.

What are you waiting for? Apply now!

No-hassle application.
Anyone with an eligible federal student loan or federal parent loan can consolidate with the NextStudent Federal Consolidation Program. There are no credit checks, you don’t need a co-signer, and you don't need to know the details of your current student loan portfolio.

Just complete the simple four-step online application with Electronic Signature, and you could be on your way to lower payments each month.

Find out more about your student loan consolidation options, or just start a student loan consolidation application to find out how much you can save!


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Federal Student Loan Holders
Whether you have one or multiple federal education loans, with the Federal Consolidation Loan program, you could significantly lower your monthly payments and get up to 30 years to repay your parent or student loans.

Apply Online... now with Electronic Signature!

All Student Loan Borrowers

If you’ve already consolidated your federal student loans but still have private student loans you want to consolidate, you’re in luck. With the new NextStudent Private Consolidation Loan, you can consolidate all your eligible private student loans at record-low rates that could save you money.
» Learn more...

How much can student loan consolidation help you? Use our consolidation loan calculators to find out.


Thank you so much for your amazingly fast, efficient and courteous service. I have never received such quality customer service over the phone in my life and I will surely be telling others about NextStudent.com.
- Kevin J. Nah
Satisfied Customer




More About NextStudent Consolidation Loans
» Apply online with Electronic Signature!

» Before and After
» Eligibility
» Loan Amounts
» Rates, Fees and Terms
» Top Questions about NextStudent Consolidation Loans
» More about NextStudent Consolidation Loans
» Student Loan Consolidation Waivers

» NextStudent Custom Consolidation Loan Calculator




Related Terms
» Student Loan Consolidation
» Federal Student Loan Consolidation
» Private Student Loan Consolidation
» Consolidate Student Loans
» Consolidate Student Loan
» Consolidate Private Student Loans





Student Loan Consolidation
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Student Loan Consolidation Could Save You Hundreds of Dollars
The rates on federally guaranteed loans (which change annually) dropped July 1, 2004 to the lowest levels in the history of the program. This means that student loan consolidation rates are as now low as 3.125% when you take advantage of NextStudent's benefit and incentive plans.
Student Loan Consolidation Is Good Money Management
Consider these benefits of student loan consolidation:

Near record-low interest rates (currently 3.5% or at as low as 3.125% with discounts) fixed for the term of your loan can save you thousands
Lower your monthly payment burden by as much as 60%
1% interest rate reduction after you make your first 36 consecutive on-time payments
Retain all federal borrower benefits
Flexible repayment options
No fees, charges, or prepayment penalties
No credit checks or co-signers required
Student Loan Consolidation Saves You Time
After graduation, consolidation loans can help ease the burden of repayment by bundling all your student loans into a single loan with one lender and one repayment plan. Students and parents are each eligible for student loan consolidation.
Student Loan Consolidation Allows You to Better Manage Your Cash Flow
By consolidating multiple student loans into one lower monthly payment, you gain the freedom to better manage your monthly budget, and invest more of your earnings for the future.
Take 2 Minutes to Apply Online or call us toll-free at (800) 299-4639
You May Qualify for Student Loan Consolidation if You:

Are no longer enrolled more than half time in school
Are in repayment or in a loan grace period (normally 6 months after leaving school)
Have not previously consolidated your loans

Consolidating Federal Student Loans Keeps Graduates on Course
Although many people have achieved the dream of completing their college education, many of them face an unfortunate downside following graduation: paying back the inevitable student loan.

Too often it is not just one loan looming over students, many of whom have yet to settle into the sometimes overwhelming realities of the workforce and daily life.

NextStudent, one of the nation’s premier education funding companies, can be the proverbial light at the end of the tunnel by helping students consolidate their multiple federal loans. From Stafford Loans and Perkins Loans to PLUS Loans and HPSL Loans, NextStudent’s Federal Student Loan Consolidation Program equals convenience.

"Although the 2.77 percent interest rate on federal loans was at an all-time low between July 1, 2004 and July 1, 2005, the lowest the rates ever had hit in history, now is still a good time to consolidate," said Andrew Ernstrom, education finance adviser at Phoenix-based NextStudent.

Currently the interest rate is in the 5 percent range and is expected to again increase in July 2006. The cap on the program is 8.25 percent, but projections for the next increase are between one or two points.

"Everyone knew the rates were going up about 2 percent this past July 1," Ernstrom said. "So there was a mad dash nationwide to get everyone’s loans consolidated," which allowed borrowers to take their variable rate loans and then lock them into a fixed rate.

Historically during the past 40 years interest rates averaged closer to 7 percent.

An important aspect of consolidation includes the six-month grace period. "Make sure to consolidate while you’re in the six-month grace period because you get a cheaper interest rate," he said. The rate increases .6 percent when the grace period ends.

Students have been gung-ho about federal loan consolidation. "The only reason people wouldn’t consolidate is because they don’t think the rates will go up, but all the trends out there say they will, so it makes sense to do it now," Ernstrom said. The interest rates for student loans are set up off of the 91-day Treasury bill. Since May 30 when the rate was reset, the rate increased about .92 percent. "If the rates were reset today, everyone’s rates would be .92 percent higher. And by next July who knows how high it could go," he said.

NextStudent’s Federal Student Loan Consolidation Program extends loan payments up to 30 years, depending on a borrower’s balance. As many people originally take out loans on a 10-year repayment plan, consolidation offers the same interest rate on the same amount of money but at a longer term, making the payment much more affordable. There are no prepayment penalties for the program, so borrowers can pay off loans at their own pace and have the benefit of a longer term if needed. Consolidation can decrease some payments up to 60 percent.

Even if students already have consolidated, NextStudent can help further lower their interest rate with reconsolidation, which allows borrowers to reset their forbearance and deferment rights, take advantage of new industry discounts and also can lower their payment.

"In the past students who had consolidated did not have the opportunity to consolidate again unless they took out new student loans," said Katie Carpenter, education finance manager at NextStudent. "In the past few months the Department of Education has allowed all previously consolidated loans to be reconsolidated," she added.

In turn, consolidation is the answer not only for students paying back their loans but for lenders. According to the Oct. 23, 2005 article titled "College loan plan raises questions" at NCTimes.com (North County Times) by J. Stryker Meyer, "A General Accounting Office report noted that people who consolidate their loans are three times less likely to default on their student loans."

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 as easy as possible. Learn more about Student Loan Consolidation at http://www.NextStudent.com.




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Related Terms
» Student Loans
» Federal Stafford Loans
» College Student Loans
» College Loans
» Loans for College
» College Loan



Stafford Student Loans for Undergraduate and Graduate Students
With low interest rates, flexible repayment plans, and no application fees or credit checks, Federal Stafford Loans offer both undergraduate and graduate students an affordable self-help option for financing the costs of your degree. Repayment on your Stafford student loans can be postponed while you’re in school, so you won’t have to worry about making payments as long as you’re still enrolled at least half time. Stafford loans are awarded to eligible students both with and without consideration of financial need, which means you can qualify regardless of your or your parents’ financial situation.

Stafford loans come with several student-friendly benefits:

Low, fixed 6.8% interest rate
No credit check and no co-signer required
No payments due while you’re in school at least half time
Flexible repayment options that could help lower your monthly payment
Eligible for student loan consolidation, which could give you up to 30 years to repay


What’s the difference between subsidized and unsubsidized Stafford loans?
Subsidized Stafford loans are awarded on the basis of financial need. Any interest that accrues on your subsidized Stafford loans while you’re in school, in deferment, or in a grace period, is paid by the government.
Unsubsidized Stafford loans are non–need-based, so eligible students can qualify for unsubsidized Stafford aid regardless of their own income or their parents’ income. Interest will accrue on your unsubsidized Stafford loans even when you’re not making payments (while you’re in school, in deferment, in forbearance, or in a grace period), and you’ll be responsible for paying that interest once repayment begins.
What are my repayment options?
The standard repayment term for a Stafford loan, either subsidized or unsubsidized, is 10 years. After you graduate or drop below half-time enrollment, you’ll have a six-month grace period before you need to begin repaying your Stafford loans.

Once you’ve left school, your Stafford loans will also be eligible for student loan consolidation, which could give you up to 20 more years to repay and which could cut your monthly payments nearly in half.

Whether you choose to consolidate or not, there are no prepayment penalties, in case you want to pay off your Stafford loans before they’re due. And if you’re having trouble making your monthly student loan payments, you have several repayment plans and options available to you that could help make repayment more affordable or that could allow you to temporarily postpone making payments altogether.
How much can I borrow in Stafford loans?
Graduate students can take out up to $20,500 in Stafford loans each year (only $8,500 of this amount can be subsidized), up to a maximum of $138,500 in cumulative Stafford loan debt, which includes any undergraduate Stafford loans you may have received.

Undergraduates qualify for different Stafford loan amounts each year, depending on your year in school and on whether you’re classified as a dependent or independent undergraduate.


Academic Level
Dependent
Independent

First Year
$3,500
$7,500 (up to $3,500 subsidized)

Second Year
$4,500
$8,500 (up to $4,500 subsidized)

Third Year and After
$5,500
$10,500 (up to $5,500 subsidized)


How do I apply for a Stafford student loan?
You can apply online—it’s fast, easy and secure. Or giv