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NextStudent Stafford Loans*
NextStudent makes it easy for students to apply for their Stafford student loans with a fast, simple and secure online application process.
What's more, we make it it convenient for financial aid offices too. From the moment we receive an application, we take full responsibility for the borrower, and we hold all Stafford loans to ensure special attention and personal service from funding to final payment.
Borrower Benefits |
- Low, locked-in 6.8% interest rate
- No application fee
- No collateral or credit checks
- No co-signer needed
- No payments due while a student is in school at least half time
- Six-month grace period after a student graduates, leaves school or drops below half-time enrollment
- Eligible for federal student loan consolidation
- Flexible repayment options
- No prepayment penalties
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Repayment
Terms
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- 10-year standard repayment term
- Income-sensitive, graduated and extended repayment options available
- Federal deferment and forbearance benefits
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Application Process
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- Customlinks on your school website direct borrowers to NextStudent for additional information.
- Seamless integration with all national guarantee agencies and third-party service providers help meet your school’s unique disbursement flow.
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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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