SOURCE: NextStudent

October 27, 2006 11:28 ET

NextStudent Private Loans Help Students Pay for College and Stay the Course for a Higher Education

PHOENIX, AZ -- (MARKET WIRE) -- October 27, 2006 -- Many prospective students are taking a pass on attending college due to the rising cost of tuition. However, a higher education more often than not brings with it better job prospects and higher salaries for those who choose to attend college. Phoenix-based NextStudent, the premier education funding company, offers many types of student loans to help make the college choice a great idea.

A college degree is worth the time and expense, as it typically helps people advance more in the job market. Although the cost of a college education is out of reach for most people, student loans help to bring about the dream.

NextStudent offers a wide variety of student loans, from federal to private. The company advises students to first search for scholarships and grants before applying for federal student loans. However, after all other options to fund college costs are expended, student borrowers then can apply for private student loans, which can cover up to the full cost of college, minus any received financial aid. Private student loans will help pay for fees, tuition, supplies and housing costs.

Private student loans are unsecured and credit-based. There are no application fees or deadlines, and private student loans can be applied for and received throughout the year. A co-signer is not needed; however, NextStudent approves more private student loans when borrowers apply with a qualified co-signer. Best of all, preapproval only takes minutes.

As much as $40,000, or the calculated cost of attendance (lesser amount), annually may be available to student borrowers, with an available maximum of $130,000. Student borrowers receive the loan funds directly. In addition, depending on the type of private student loan, there are a variety of repayment options, including immediate repayment, interest-only and deferred principal and interest.

NextStudent's Private Student Loan Program requires that students be enrolled at least half-time in a degree or certificate program at a TERI-approved school. TERI, the Education Resources Institute, is a nonprofit organization that guarantees all of NextStudent's private student loans.

College costs are on the rise, but it does not mean prospective students need to be left out in the cold. With private student loans from NextStudent, borrowers are able to fund their education and stay on course to achieve their dreams.

About NextStudent

NextStudent, 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/.

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