Before and After Federal Consolidation

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.

More About Federal Consolidation Loans
» Begin the application process online
» Eligibility
» Loan Amounts
» Rates, Fees and Terms
» Top Questions about Consolidation Loans

Download a PDF Federal Consolidation Loan Application


* Please be aware that while we continue to offer Private Student Loans and Private Consolidation Loans, NextStudent is not currently able to accept any new PLUS, Grad PLUS, Stafford, or Federal Consolidation Loan applications.

On October 1, 2007, legislation went into effect that cut $21 billion in subsidies to FFELP lenders like NextStudent. We have been searching, and continue to search, for avenues that would allow us to keep offering FFELP loans. But at this point, until market and regulatory conditions change, we find ourselves forced to suspend our federal education loan programs.

We value your business, and we want to make sure you’re able to get the money you need to pay for school. We encourage you to take advantage of college scholarships and your available federal financing options. But if you’re still in need of a parent or student loan, please give us a call, and we’ll do what we can to help.

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Last updated Friday, May 09, 2008