Phoenix, AZ (PRWEB via PR Web Direct) June 16, 2006 — Interest rates on federal student loans will increase 1.84 percentage points in less than three weeks on July 1, 2006, the second-largest rate hike in the history of the program. However, students can use consolidation, including in-school consolidation, to ease their monthly payments and save money over the long term if they consolidate before the deadline, according to Phoenix-based NextStudent, a premier education funding company.

At the discretion of lenders the U.S. Department of Education from now until July 1, 2006 is permitting in-school consolidation, which allows an original lender to release a borrower’s loans to other lenders so that borrowers can consolidate. The process no longer will be available after July 1. NextStudent is a participating in-school consolidation lender that helps student borrowers to achieve all their consolidation goals.
Continue Reading »
NextStudent’s Low In-school Consolidation Rates Available Until July 1, 2006

Tired from paying interest on student loans every month, afraid of the deadline of paying back loans, there is a solution of your tensions, STUDENT LOAN Consolidation. In student loan consolidation, a student may enjoy many benefits; some of them are following below. 1.lower monthly payments 2.only one monthly payment rather than paying separately 3.Student loan consolidation rates are very low, fixed interest rate cannot exceed 8.25% at any time, coupled with national interest rates at a 40-year low. 4.For the application of student loan consolidation, you don’t have to offer any credit card check or processing fees. 5.the terms and payment plans of student loan consolidation are very flexible, the provider can mode them according to your financial needs 6.While you don’t need to consolidate in order to take advantage of this one, you can knock an additional .25% off your rate by making your monthly payment electronically. This electronic debit option does more than save you money - it decreases your chances of forgetting a payment. 7.The option to prepay your loan at any time without incurring a penalty Sometimes a student got confused about the qualification of applying for student loan consolidation. But now government clears that students who are still in their grace period or cannot re pay their owe money on student loans can qualify to get student loan consolidation or those who are still in school may consolidate their government-guaranteed loans
Continue Reading »
How to Consolidate Student Loan

If you know the benefits of college loan consolidation than you should know it can save you thousands of dollars each year which is money you could have saved to pay for your education of even a much needed holiday.

To understand how loan consolidation works is very simple. When you consolidate something it means to unite into one system or combining. So when you consolidate a college loan it means that you put all your current loans and unite them into one loan.

How College Loan Consolidation Works Suppose you have a college loan with lender 1 and you’re paying 5% interest on that college loan every year. Then the following year you needed another loan to pay for summer school, new books, equipment, and so forth. So you go to lender 2 and get a new loan at 6%. Suppose the following year you decide to change courses and you require new books again. So you go to lender 3 and get a new college loan at 6.5%.
Continue Reading »
Top Reasons To Consolidate Your College Loans