Before and After Federal Consolidation*
Please be aware that due to current conditions in the student loan market in particular and in the financial sector in general, NextStudent is not currently able to accept any new PLUS, Grad PLUS, Stafford, or Federal Consolidation Loan applications. However, you may be able to apply for these federal student loans from one of our trusted partners. Click here for more information.
Still not sure about consolidating your student loans? Take a look at what consolidation could do for you.
Current Situation After Consolidating PLUS Loan at 9.00% (cap rate) Lower interest rate to 4.25% $25,000 balance @ $317/month Payments lowered to $155/month Savings: $1,944/year
Current Situation After Consolidating Stafford Loan at 8.25% (cap rate) Lower interest rate to 3.5% $20,000 balance @ $245/month Payments lowered to $116/month Savings: $1,548/year
But wait . . . there’s more
If you invest your savings of $290 per month at 8%, your investment will be worth $235,798 in 25 years.
Ready to apply? Complete our Federal Consolidation Contact form, or call a NextStudent Education Finance Advisor now at (800) 299-4639.