college student loan financial aid

Deadline on student loan savings nears

Attention college students, parents and new grads: It's time to stop trashing those student loan consolidation letters along with the credit card offers.

They're trying to save you thousands of dollars.

There is no catch here: Anyone holding a federally-backed student loan — Stafford loans for by students and PLUS loans for parents — will see their interest rates rise by 1.84 percent as of July 1.

The good news is that these loans can be consolidated and the current rate locked in if borrowers act by June 30.

"The bottom line is that students ... need to be contacting their lender immediately," said Shann Doerr, financial aid director at Quincy University. "It can make a huge difference."

Lenders are offering a dizzying array of consolidation packages, some with rates as low as 2.5 or 3 percent.

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NextStudent Offers Private Student Loans for Undergraduates ...

PHOENIX, AZ -- (MARKET WIRE) -- July 21, 2006 -- There is an option for undergraduate and graduate students who have not yet applied for their student loans or for those without sufficient federal funds for the fall semester. Phoenix-based NextStudent, a premier education funding company, has a private student loan program to help undergraduate and graduate students receive the funding they need to get them through college.

NextStudent's Private Student Loans have no application deadlines or fees and are available throughout the year to help cover the total cost of a student's education, less financial aid. An annual maximum of $40,000 or the calculated cost of attendance (lesser amount) is available with a program maximum of $130,000. Private student loans pay for tuition and fees, housing, supplies and computers.

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