Borrower Beware: Not All Student Loan
Consolidation Discounts Are the Same
By Jeff Mictabor
NextStudent, the Phoenix-based premier education funding
company, offers a 1 percent LOCKED discount on federal
student loan consolidation after 36 on-time payments. Many
education funding companies offer discounts for Auto-Debit,
and even a discount for the 36 on-time payments, but the
borrower must beware because other lenders might not lock in
their discounts, so the discounts are easy to lose.
According to NextStudent, federal student loan consolidation
can help students who struggle with the often unmanageable
burden of student loan debt after college. Student loan
consolidation (http://www.nextstudent.com/) extends the
repayment term, which helps lower monthly payments. Once a
borrower earns NextStudent's 1 percent LOCKED discount after
36 on-time payments, that reduction is for the entire term
of the student loan consolidation, even if the student goes
into forbearance or deferment.
Many companies offer great incentives but do not lock in
those rate reduction discounts. NextStudent's 1 percent
locked benefit can save students and their parents an
enormous amount of money over the course of the repayment
term.
Save Money by Consolidating Student Loans With NextStudent
Student loan consolidation (http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp)
can assist parents and students by reducing student loan
payments by up to 60 percent. In addition, repayment periods
are extended by up to 30 years, giving students plenty of
time to ease into the real world and become financially
self-sufficient.
The federal student loan consolidation rate is mandated by
the government. Therefore, the only difference among
companies offering federal student loan consolidation is the
individual discounts or incentive packages offered through
each company.
While many representatives of education funding companies
claim to offer the best discounts and packages, when it
comes down to it NextStudent provides an ultimate advantage
for federal student loan consolidation.
Federal Student Loan Consolidation Packages Offered by
NextStudent
Standard Locked * Discount of .25 percent for Auto-Debit
payments * Rate reduction of 1 percent LOCKED rate after 36
on-time payments * Easy discount qualification process
Google Package * Discount of .25 percent for Auto-Debit
payments * .375 percent discount after six months of on-time
payments * 1 percent rate reduction after 36 on-time
payments (not locked)
2% Package * Discount of .25 percent for Auto-Debit payments
* 2 percent rate reduction after 36 on-time payments (not
locked)
NextStudent's LOCKED Discount Benefits
It is easy to qualify through NextStudent. Even students
with student loans (http://www.nextstudent.com/) in
deferment or forbearance are eligible for the 1 percent
discount. And through NextStudent, the discount is
guaranteed for the life of the federal student loan
consolidation.
Student borrowers can get more information about their
possible savings when they check out NextStudent's student
loan consolidation calculator by going to
www.nextstudent.com.
NextStudent offers discounts and benefits that help make
life easier for student and parent borrowers. With its
Standard Locked Package that includes its 1 percent LOCKED
discount, NextStudent's program is a great way to save.
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
www.nextstudent.com.
About the Author
Jeff Mictabor is an enthusiast on the topic of student loan
issues in the news. He has been writing for the past 10
years for a variety of education publications. He now offers
his writing services on a freelance basis. |
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