SOURCE: NextStudent


February 17, 2010 09:05 ET

NextStudent Announces Private Student Loan Partnership Program

PHOENIX, AZ--(Marketwire - February 17, 2010) - NextStudent Inc. (, one of the country's top providers of student loans and education financing, announced today that it has partnered with Sallie Mae® to offer a student loan program for undergraduate and graduate students.

Designed to supplement a student's federal student loans and other financial aid, these private student loans can help students cover up to 100 percent of their education expenses.

"We're pleased to be able to offer this student loan program to help students pay for their college and graduate school education," said NextStudent president and CEO, Don Fenstermaker. "Especially in this economic environment -- parents have been having to draw on their savings, home equity is largely unavailable, investments and college savings plans have devalued, credit card companies are canceling and scaling back credit lines.

"With more families struggling this year to find financial resources," Fenstermaker said, "this student loan program offers an affordable option to help families finance their student's education when other financial aid isn't enough."

These private loans are available in loan amounts from $1,000 up to a student's total certified cost of attendance. These loans can help families cover any education costs remaining after scholarships and grants, federal parent and student loans, and other financial aid.

"We want to remind families that students should take full advantage of their low-cost federal loan options before turning to private student loans," Fenstermaker noted.

The private loan offered by NextStudent features competitive interest rates that reward responsible borrowers, affordable interest-only payments to start, and interest-rate discounts for automatic payments. The loan's repayment plan can save families hundreds, even thousands, of dollars over other private student loans that capitalize interest while a student is in school.

To try to minimize their need for federal and private student loans, students visiting the NextStudent website can also take advantage of NextStudent's award-winning Scholarship Search Engine to search for free money for school. Continually updated and available free of charge for anyone to use, the NextStudent Scholarship Search Engine offers 24-hour access to one of the largest online databases of scholarship information available, currently listing more than 6.2 million individually awarded scholarships, valued at over $16 billion.

About NextStudent

NextStudent,, offers a one-stop hub for education finance help and student life essentials, including private student loans, a free online scholarship database, affordable student health insurance, college and student credit cards, and extensive information on both federal college loans and non-federal private student loans.

NextStudent is a marketer of student loans and is not the lender for any private student loans. The private loan offered by NextStudent is the Sallie Mae Smart Option Student Loan® and is made by Sallie Mae Bank.

Sallie Mae and Sallie Mae Bank are registered service marks of Sallie Mae, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America.

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