Jeff Mictabor asked:

As high school seniors diligently work their way through their first Free Application for Federal Student Aid (FAFSA), parents should be monitoring where their children are in the college funding process so they can help plan accordingly.

NextStudent, the Phoenix-based premier education funding company, offers a wide array of online financial planning tools to help students and their families wade through the waters of college financial planning.

Financial Aid Calendar

The first step in the process is to be aware of what is expected of you as a student and as a parent. Even though it’s April, check the Financial Aid Calendar (http://www.nextstudent.com/financial_aid_advisor/financial_aid_calendar/financial_aid_calendar.asp) to double check where you are in the process and keep on track. This also is the perfect time for high school seniors to get a jump-start on next year and see what will be expected of them as college-bound seniors.

Search for Free Money

The college funding cycle begins with the search for scholarships, or “Free Money.” Local and national scholarships are an important avenue to explore because they can help cut the costs of financial aid that has to be repaid. NextStudent’s FREE Scholarship Search Directory (http://www.nextstudent.com/directory-of-scholarships/) has a total of 2.4 million scholarships from 42,000 funding sources with total awards of $3.4 billion.

Financial Aid Guided Tour

For another in-depth look on what to expect when applying for financial aid from a NextStudent Financial Aid Advisor, take NextStudent’s “Financial Aid Advisor: The Guided Tour (http://www.nextstudent.com/financial_aid_tutorial/financial_aid_tutorial.asp)”.

Financial Aid Frequently Asked Questions

If students and parents have specific questions regarding financial aid and their best options, find the answers in NextStudent’s Financial Aid Frequently Asked Questions (http://www.nextstudent.com/tools_and_resources/faq.asp).

Budget Calculator

As high school seniors all across the country begin receiving their acceptance letters and have completed their FAFSA forms, they will begin to receive “Award Letters” from each of the schools to which they have been accepted. These letters will explain the type of aid and amounts for which they qualify.

At this time, students and their parents should begin work on or revisit their college-budget and just how much they will be responsible to pay in the coming year. NextStudent’s FREE College Budget Calculator (http://www.nextstudent.com/tools_and_resources/calculators/college_budget.asp) can assist in refining the college budget and establishing how much additional money students will need.

Both Stafford student loans and Parent PLUS Loans for Undergraduate Students (PLUS) are available through NextStudent. Because individualized service is a top priority at NextStudent, every customer is personally assigned an Education Finance Advisor to guide students through the student loan process from start to finish. If students and parents find that there is a gap in their education funding, NextStudent also offers private student loans with borrowing limits of up to $40,000 annually.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans, and Student Loan Consolidation at NextStudent.com.

Jeff Mictabor asked:

NextStudent, the leading Phoenix-based education funding company, suggests that every student’s search for college funding should begin with the search for “Free Money,” better known as scholarships. With the costs of higher education yearly on the rise, obtaining money that need not be repaid is an essential tip for all college and college-bound students. NextStudent can help students become their own college funding resource by helping to locate scholarships for school.

There is a lot of “Free Money” out there to uncover and access, and all students have to do is know where to look. The first step for students should be NextStudent’s free, online Scholarship Search Directory. The Scholarship Search Directory houses over 2.4 million scholarships valued at more than $3.4 billion from 42,000 sources.

Easy-to-Use Directory

NextStudent’s Scholarship Search Directory is easy to use and, chances are, if students really dig in, they will find scholarships that best suit their needs. First students can start by searching for the college they will attend in the fall, as well as the year of attendance. To do this, students can click on the “College(s)” and “Year of Study” links, respectively. Next, students can look for scholarships open to students in their state by clicking “State of residency.” Students also can check to see if their parents’ employers are in the directory by clicking on “Corporate Employer(s).” Third, students can check out scholarships by “Academic Major” and, lastly, they can explore any remaining categories that apply to any specific skills they may have. For example there are category listings for: “Athletic Skill(s)” or “Artistic Skill(s),” “Honor(s),” “Ethnic Background(s)” or “Racial Background(s),” “Military or Veteran Affiliation(s),” “Religious Affiliation(s)” and “Other Affiliation(s).”

Specific Needs Scholarships

The directory also includes scholarships for students who have specific needs such as “Impairments,” which include chronic medical conditions and other ailments. Students also can check the category called “Unique Situation,” which includes awards to former students of a particular county school, awards for exchange students, or those with part-time or full-time jobs. There also are unique awards for students who are Amateur Radio (Ham) Operators or for those who have been home-schooled.

There are a host of opportunities for FREE money regardless of a student’s background or financial situation, and many of those opportunities can be found through NextStudent’s Scholarship Search Directory. The more “Free Money” students can find means the less money they have to obtain through student loans.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about scholarships, student loans , private student loans

Jeff Mictabor asked:


Hopefully by now your child has decided which college to attend this fall, and you are beginning to formulate your financial strategy for how you will fund the college experience. An excellent option is the PLUS Loan or Parent Loans for Undergraduate Students, recommended by NextStudent, a leading Phoenix-based education funding company.

As long as your child is enrolled in school at least half-time, this federally backed student loan allows parents to borrow funds to cover such things as tuition, housing and meals and even books and supplies, up to the total cost of the student’s education, minus any other aid.

In order to be eligible for the PLUS Loan, both students and their parents must complete the Free Application for Federal Student Aid (FAFSA). According to NextStudent, parents cannot be turned down for the PLUS Loan based on too high or too low an income, because the student loan is not based on financial need or how much money parents earn. However, parents can be turned down for an adverse credit history. Once the FAFSA is submitted and reviewed by the government, parents will receive a Student Aid Report, which will allow them to apply for the PLUS loan. Applying for a NextStudent PLUS Loan is simple and easy and may be done either over the phone in as few as five minutes, or it may be done online using E-Signature.

Availability after Tuition is Paid Makes PLUS Loans Convenient

A welcome feature of the PLUS Loan is that it is available even when parents already have paid for their child’s tuition and other related educational expenses. Although the maximum interest rate on the PLUS Loan is set by the federal government, NextStudent offers many opportunities for parents to save money through incentives.

For instance, when borrowers fund their PLUS Loan through NextStudent and pay via auto-debit, they will receive a .25 percent reduction on their interest rate. In addition, after making 12 consecutive on-time payments, borrowers will receive a 3 percent cash rebate on their remaining principal balance, and a 2 percent rate reduction after 48 consecutive on-time payments.

Grad PLUS Loans Offered by NextStudent

A similar federal student loan product called the Grad PLUS Loan is available for those individuals who decide to pursue graduate or further professional studies and enables students to fund their education themselves. Again, students may finance the entire cost of their graduate work (minus federal aid) and use the funds to pay for any associated costs such as supplies, books and other materials. While the Grad PLUS Loan Program’s maximum interest rates are set by the federal government, just like with the PLUS loan Program, NextStudent offers many money-saving competitive benefits for those pursuing postsecondary education. An additional incentive is that students have the option of postponing repayment until after graduation. Additionally, like PLUS Loan borrowers Grad PLUS borrowers may be eligible for a federal student loan consolidation.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans, and Student Loan Consolidation.

Jeff Mictabor asked:


After almost two years of reporting on the latest in student loan legislation, federal financial aid policy changes that affect college students or those that are college-bound, and a myriad of other topics that make life easier for students, the NextStudent Student Loan Blog will celebrate it’s two-year anniversary at the end of this year. During that time, the blog has delivered relevant content and news updated daily that keeps college students and their parents informed on current issues and such changes as student loan interest rates that affect the college experience and the planning process.

With so much confusion abounding regarding the issues, NextStudent’s Student Loan Blog is a clear voice that cuts through the chaos and explains what is happening in a succinct manner, even in the midst of hot issues that generate heated debate. In fact, the blog is a key resource for college students and their parents, helping them keep track of crucial student loan deadlines, new developments within the Department of Education, student loan consolidation information, and serves as an educational tool for the industry.

Weekly Format Explores Pertinent Issues

Each day, the focal point is a slightly different angle on student loans as follows:

Monday: “Student Loan News”

Tuesday: “This Week in Student Loans”

Wednesday: “Student Loan Legislation”

Thursday: “Student Loan Advice”

Friday: “Campus Life”

Helpful Topics Educate Students

While not just about financial aid and student loans, many postings center on helpful campus life topics such as conducting job searches, getting an ideal internship, and other savvy subjects like online social media. Some of the recent postings:

“From Classes to Cash: Landing the Gig that Pays the Bills after College”

“Student Internships: Pay to Get Paid What You’re Worth?

“Give Yourself the Best Shot at Federal Student Aid: Submit FAFSA Soon After Jan. 1”

“Failure Is for Freshmen, Success Is for Seniors: What I Learned at College”

“Should Undocumented U.S. Residents be Eligible for In-State Tuition Rates?”

“‘MyNews’ for MySpace Coming Soon”

“Starbuck’s New Record Label?”

Commitment to Education Extends to Customer Service

NextStudent believes in educating parents and students with online communication tools such as with the Student Loan Blog. This commitment to education extends to its dedication to excellent customer service as exhibited by personally assigned Education Finance Advisors who take clients through the entire financial aid and student loan consolidation process from start to finish. Whenever new clients contact NextStudent, they receive their own personal representative who will address their questions and assist them in getting the funding they need for school.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans, private student loans, and student loan consolidation at NextStudent.com.

Jeff Mictabor asked:


Got this semester covered but wondering how you’re going to pay for next semester? If mom and dad can’t help you out as much as they want to, you might consider applying for a Federal Stafford Loan.

Federal Stafford Loans are one of the most affordable student loans available to you, with a low 6.8% fixed interest rate. And as long as you’re enrolled in college at least half-time, you don’t have to start repaying your Stafford loan until you’re out of school.

Let Both Stafford Loan Options Work for You

The Stafford Loan Program offers two types of student loans: subsidized Stafford loans (awarded on the basis of financial need) and unsubsidized Stafford loans (non–need-based).

With a subsidized loan, the government will pay for any interest that accrues while you’re in school, when you’re in deferment, and during your grace period.

With an unsubsidized federal stafford loan, you’re responsible for all interest that accrues, even when you’re not making student loan payments. Any interest that accrues while you’re in school, in deferment, or in a grace period will be added to your principal loan amount for you to repay once your repayment begins.

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You may qualify for either type of Stafford loan or a combination of both.

Applying for a Stafford Loan With NextStudent Is Simple

Just complete your FAFSA (Free Application for Federal Student Aid), and you’re already started! There’s no credit check. You just need to meet the eligibility requirements:



High school diploma or GED

Enrolled or accepted in an eligible undergraduate program, attending at least half-time

Maintaining satisfactory academic progress, as determined by your school

U.S. citizen or permanent resident

Not in default on any federal student loans

Registered with the Selective Service if you’re male and between the ages of 18 and 25



Once you’re approved for your Stafford loan, a check will be sent to your school. You have 14 days to decide whether you want to use the entire Stafford loan amount or only part of it.

After your tuition and other school-billed fees are paid, you’re free to use any leftover Stafford funds for your books, supplies and other college-related expenses.

Even More Benefits With an Undergraduate Stafford Loan From NextStudent

Take out your Stafford loan with NextStudent, and you could qualify for NextStudent’s rate reduction rewards.*



Get an immediate 0.25% rate reduction as soon as you sign up to have your student loan payments automatically deducted from your savings or checking account. Lower your rate and never have to worry about late payments or lost mail.



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We’ll knock another 1% off your rate after your first 36 on-time payments. And we’ll lock in this 1% rate reduction for the life of the loan, even if you miss a payment later on down the road.





OR make 48 consecutive on-time payments and lower your rate by 2%.



And after graduation, you can choose to consolidate both your unsubsidized and subsidized Stafford loans with a NextStudent Federal Student Loan Consolidation. You get more time to repay, and you could substantially lower your monthly payment.

So don’t stress about paying for college on your own. Apply for your NextStudent Stafford loan today, and let us help you make paying for school as simple as possible!

NextStudent believes that getting an education is the best investment you can make, and we are dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans and Student Loan Consolidation at NextStudent.com �

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*NextStudent will discontinue all interest rate discount benefit plans if Congress enacts the College Cost Reduction Act of 2007. It is not certain at this time if that legislation will be enacted. If it is, it is not known what its effective date will be. Provisions within the pending legislation would change the fee structure and yields for lenders that make federal education loans. It is not known at this time on which date the new provisions will take effect, nor whether they would be applied to loan applications that had been submitted prior to that date but not yet funded. NextStudent will not offer the interest rate discount benefits for those applications that are subject to the new provisions. NextStudent will make its best efforts to process all applications it receives prior to the date the new provisions take effect, but cannot guarantee that your application will be processed in time for the interest rate discount benefits to apply.

Jeff Mictabor asked:


College students all over the United States probably have just gotten into the swing of summer, whether that means finally perfecting their golf swing, getting that deep tan, or acing the most recent quiz in summer school. In the midst of these activities and especially at this time of year, it is important to regroup and begin planning financially for the new school year, according to NextStudent, a leading Phoenix-based education funding company.

NextStudent EFAs Help Students Understand Awards

The best place to start is to review all the correspondence students have received, especially their award letters. This is the document that lists such important information as the actual cost to attend school (includes tuition, fees, room and board), available need-based federal aid such as subsidized Stafford Student Loans, non-need-based aid such as unsubsidized Stafford Student Loans and Parent Loans for Undergraduate Students (PLUS Loans), and the remaining out-of-pocket funds required.

Unfortunately, many times the award letters from colleges are somewhat difficult to understand, which may lead to confusion when students attempt to put together a strategic plan for funding their college dream. However, when students or their parents contact NextStudent, they will receive personal attention from their Education Finance Advisor. EFAs help students understand the types and amounts of fnancial aid for which they qualify, answer any questions, and then work with students to develop a strategy that best fits students’ needs.

Students Qualify for a Variety of Federal Funds

Students and their parents have an array of federal financial aid options to consider, depending on the type of aid for which they qualify. Some students may qualify for need-based subsidized Stafford Student Loans, whereby the government covers any interest on the student loan while a student is in school, the grace period following graduation, and any period of deferment. Other students may qualify for a non-need-based unsubsidized Stafford Student Loan, where interest is charged to the borrower during this same time period.

Another common type of federal aid is Federal Parent Loans for Undergraduate Students, known as PLUS Loans. These credit-based options allow parents to borrow funds to cover the education costs of their dependent children who attend college at least half-time as undergraduate students. Parents may borrow up to the cost of attendance, minus any other financial aid.

Frequently, parents find that they pay more for their child’s education than they anticipated. NextStudent offers Private Student Loans to supplement federal student loan sources. Many parents prefer these unsecured credit-based student loans to borrowing against the equity in their homes or other options to cover the remaining out-of-pocket college costs. NextStudent offers generous borrowing limits, quick preapproval, deferred principal and interest on most student loans, and no prepayment penalties. Funds may be used for study abroad and distance-learning programs in addition to traditional schooling.

Financial Aid Myths Dispelled

One fairly common misconception is the belief that a student does not qualify for ANY federal aid. In fact, even a student who does not qualify for any SUBSIDIZED federal aid will almost certainly qualify for an UNSUBSIDIZED student loan. NextStudent Education Finance Advisors are equipped to help students and their parents understand just these types of issues so that they can put together a plan that best fits the needs of the borrower.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans and Student Loan Consolidation at NextStudent.com.