SOURCE: NextStudent

December 19, 2007 12:40 ET

NextStudent Consolidation Loans Let Student Loan Borrowers Replace Variable-Rate Loans With One Fixed-Rate Loan

PHOENIX, AZ--(Marketwire - December 19, 2007) - Parents and students who took out any Federal PLUS Loans or Stafford Loans prior to July 1, 2006, are subject to variable interest rates that adjust every year. As interest rates rise, monthly payments may also go up. A NextStudent federal student loan consolidation offers these borrowers the security of a fixed interest rate; by consolidating their federal parent or student loans with NextStudent, a leading Phoenix-based education funding company, borrowers receive a fixed interest rate and no longer have to worry about variable interest rates going higher and leaving them guessing about their monthly payment amount.

Borrowers with multiple parent and student loans in repayment, besides dealing with the uncertainty of variable rates, may be faced with multiple bills, multiple due dates, and multiple monthly payments to multiple lenders. With the NextStudent student loan consolidation program, borrowers can bundle all their eligible federal parent and student loans into one single easy-to-manage student loan consolidation loan with one lender, one monthly bill, and one fixed monthly payment.

Besides offering convenience, less hassle, and the security of a fixed interest rate, NextStudent consolidation loans could also allow borrowers to substantially lower their monthly student loan payment amount. By consolidating their college loans with NextStudent, borrowers could extend the repayment term on their parent and student loans by up to 20 years. With more time to pay off their college loans, borrowers may be able to cut their monthly payments by up to 50 percent.

Borrowers can apply for their NextStudent federal student loan consolidation in minutes online or over the phone. It's fast, easy, and free to apply, and there are no fees, no credit checks, and no co-signers required. There are also no prepayment penalties, so borrowers who consolidate their parent or student loans will never be charged for paying more than the minimum each month or for paying off their student loan consolidation early.

Borrowers who have private student loans in addition to (or instead of) federal student loans won't be able to consolidate their private student loans with the federal student loan consolidation program. But borrowers looking for the same convenience of a single consolidated loan for their private student loans may be eligible to consolidate their private loans separately with a NextStudent Private Consolidation Loan.

About NextStudent

NextStudent 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, and has a database of more than 5.9 million scholarships worth over $16 billion.

For more information about NextStudent and its student loan programs, please visit our website at

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