| FINAL Informal Article | | | | With NextStudent's Private Loan Program student |
| 07/20/06 | | | | borrowers may qualify with or without a co-signer. |
| 438 words | | | | Funds are disbursed directly to the borrower, and |
| Private Student Loans Help Students Fund Their | | | | payments do not have to be made until after |
| Higher Education | | | | graduation. There are various money-saving |
| College students who need additional funding for | | | | repayment options and interest payments may be |
| college because they were unable to cover their total | | | | tax deductible for these student loans ( |
| education costs with federal aid have another option. | | | | Eligibility Requirements for Private Student Loan |
| NextStudent, the Phoenix-based premier education | | | | To be eligible for NextStudent's Undergraduate and |
| funding company, offers private student loans ( for | | | | Graduate Private Loans, students must be enrolled at |
| undergraduate and graduate students. | | | | school at least half time in a degree or certificate |
| Private student loans are available throughout the | | | | program at a school approved by The Education |
| year to student borrowers who need money for | | | | Resources Institute, TERI, a nonprofit organization by |
| college. These student loans are unsecured and are | | | | which all NextStudent private loans are guaranteed. |
| credit-based. NextStudent's Undergraduate and | | | | Private student loans also are available for distance |
| Graduate PLUS Loans ( can help students cover up | | | | learning and international students. |
| to the full cost of their education. Education | | | | Student borrowers can borrow an annual maximum |
| expenses covered include tuition and fees, housing, | | | | of $40,000 or the calculated cost of attendance with |
| computers, supplies and many other everyday | | | | a program maximum of $130,000. |
| expenses related to education. | | | | Repayment on the Undergraduate and Graduate |
| No Application Deadlines for Student Loans | | | | Private Loans starts six months following graduation, |
| There are no application deadlines or fees with | | | | or when the student borrower drops to less than |
| NextStudent's Private Student Loans; therefore, | | | | half-time enrollment status. Student borrowers have |
| undergraduate and graduate student borrowers can | | | | up to 20 years to repay their loan. However, student |
| apply at the beginning, middle or near the end of the | | | | borrowers with balances of more than $40,000 may |
| school term. Student loan borrowers can apply | | | | have their term extended to 25 years. The minimum |
| directly online with a fast and easy application form | | | | loan payment is only $25. |
| and receive preapproval in minutes. | | | | |