FINAL Informal Article
07/20/06
438 words

Private Student Loans Help Students Fund Their Higher Education

College students who need additional funding for college because they were unable to cover their total education costs with federal aid have another option. NextStudent, the Phoenix-based premier education funding company, offers private student loans (http://www.nextstudent.com) for undergraduate and graduate students.

Private student loans are available throughout the year to student borrowers who need money for college. These student loans are unsecured and are credit-based. NextStudent's Undergraduate and Graduate PLUS Loans (http://www.nextstudent.com/plus_loans/graduate-plus-loans.asp) can help students cover up to the full cost of their education. Education expenses covered include tuition and fees, housing, computers, supplies and many other everyday expenses related to education.

No Application Deadlines for Student Loans

There are no application deadlines or fees with NextStudent's Private Student Loans; therefore, undergraduate and graduate student borrowers can apply at the beginning, middle or near the end of the school term. Student loan borrowers can apply directly online with a fast and easy application form and receive preapproval in minutes.

With NextStudent's Private Loan Program student borrowers may qualify with or without a co-signer. Funds are disbursed directly to the borrower, and payments do not have to be made until after graduation. There are various money-saving repayment options and interest payments may be tax deductible for these student loans (http://www.nextstudent.com/).

Eligibility Requirements for Private Student Loan

To be eligible for NextStudent's Undergraduate and Graduate Private Loans, students must be enrolled at school at least half time in a degree or certificate program at a school approved by The Education Resources Institute, TERI, a nonprofit organization by which all NextStudent private loans are guaranteed. Private student loans also are available for distance learning and international students.

Student borrowers can borrow an annual maximum of $40,000 or the calculated cost of attendance with a program maximum of $130,000.

Repayment on the Undergraduate and Graduate Private Loans starts six months following graduation, or when the student borrower drops to less than half-time enrollment status. Student borrowers have up to 20 years to repay their loan. However, student borrowers with balances of more than $40,000 may have their term extended to 25 years. The minimum loan payment is only $25.

NextStudent offers private student loan (http://www.nextstudent.com/privateloans/privateloans.asp) options throughout the year for eligible undergraduate and graduate students who need the funds to help them achieve the dream of a college education. There are no deadlines or time constraints so that student borrowers can receive the funding they need no matter the time of year.

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 Loans at http://www.nextstudent.com/.