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NextStudent Frequently Asked Questions
Q: What do you mean by "college funding made
simple?"
A: For many students and their families the process of finding
money for college seems like a daunting task with a never-ending
pile of paperwork. They often get lost in the maze of terms,
loan types and interest rates. We believe in making college
funding as easy as possible and simplify the process by providing:
- An extensive scholarship search engine with over 42000
awards valued at $3.4 billion from 2.4 million sources. updated
daily, the NextStudent Scholarship Search Engine is free
of charge, advertisement-free and completely
confidential.
- A comprehensive portfolio of both federal and private
education loans to provide students and their families
as
many funding options as possible.
- One-on-one counseling with assigned Education Finance
Advisors who work with families from start to finish,
providing personal customer service every step of the way.
- Educational system support through NextStudent's Adjunct
FAO service that assists financial aid offices with FAFSA
(Free Application for Federal Student Aid) form completion
and entrance and exit interviews.
Q: What products and services does NextStudent offer?
A: NextStudent's comprehensive portfolio of products includes
low-cost federal student loans, as well as highly competitive
private loan products, for undergraduate and graduate students
and parents. NextStudent also offers federal and private
consolidation loan programs, funding for K-12, and college
savings plans.
NextStudent's services include its award-winning Scholarship
Search Engine, with over $3.4 billion in no-cost aid, and
free one-on-one counseling with personally assigned Education
Finance Advisors that guide families through the available
options and help them select the right mix of funding.
Q: How does NextStudent make money when there are
no costs to the student?
A: NextStudent earns money on the loan spread, like any other
lender.
Q: What does the name NextStudent mean?
A: The original partners conceived the name, NextStudent.
After creating quick and convenient access to thousands
of scholarships, they felt that the online database would
help not only the first students that won award money,
but also every student who would come "next."
Q: But aren't scholarships hard to get?
A: Scholarships are offered by thousands of different corporations,
foundations and other organizations, and are awarded to
a variety of students-not just to star athletes or those
with top grades. Scholarships are also awarded for community
involvement, extracurricular activities, leadership capabilities,
arts and other distinctions.
The key to finding scholarships is to start early and to
search often. That's why NextStudent updates its award-winning
Scholarship Search Engine daily, and maintains information
on hundreds of thousands of awards.
Q: It's assumed that a family earning an above average
household income won't qualify for financial aid. Won't
they be denied?
A: Thanks to updated federal guidelines, today many families
qualify for federally funded loan programs. Unfortunately,
many families look to credit cards or home equity loans,
which generally charge a much higher interest.
Q: What if a student or family does not have a good
credit history, or has no credit history at all?
A: Some college funding options are not based on creditworthiness.
For instance, Federal Stafford Loans are based on financial
need, and do not require a credit check. And scholarships,
grants and Federal Work-Study may be available to families
regardless of their credit situation.
Q: Why should students and their families turn to
NextStudent?
A: We know college funding. Over the past decade, we've made
it easy for tens of thousands get the money they need to
pursue their college dreams. Students and their families
can put our expertise and our resources to work for them
at no charge so they can get the most college funding-simply
and at the lowest cost.
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