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NextStudent Federal Consolidation Loans*
At NextStudent, we’re committed to making college funding simple, even after graduation. That’s why we offer a straightforward federal student loan consolidation program that could help make student loan repayment more affordable and convenient, and an advanced online system that makes the consolidation process fast, simple and secure.
Borrower Benefits |
- No fees
- No cost to apply
- No credit checks
- No prepayment penalties
- Fixed, low interest rates
- One convenient monthly payment
- Flexible repayment options
- Up to 20 more years to repay
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Repayment Terms
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All Federal Consolidation Loans are eligible for federal deferment and forbearance benefits.
The standard repayment term on a consolidation loan could be up to 30 years, depending on the borrower’s total outstanding student loan debt.
Education Debt |
Repayment Term |
$20,000 – $39,999 |
20 years |
$40,000 – $59,999 |
25 years |
$60,000 + |
30 years |
In addition to standard repayment, borrowers can also choose from income-sensitive, graduated and extended repayment plans that could help make repayment more affordable. |
Application Process
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- Fast, simple online application with electronic signature
- 24-hour, password-protected secure access to application and loan data
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Services
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- Secure online and custom reporting available
- Customized link to NextStudent application platform on your school website
- Staff of experienced Education Finance Advisors who can answer questions and walk borrowers through the application process, step-by-step
- On-campus seminars and training for students and financial aid offices
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* 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.
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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