Borrower Beware: Not All Student Loan Consolidation Discounts Are the Same

NextStudent, the Phoenix-based premier education funding company, offers a 1 percent LOCKED discount on federal student loan consolidation after 36 on-time payments. Many education funding companies offer discounts for Auto-Debit, and even a discount for the 36 on-time payments, but the borrower must beware because other lenders might not lock in their discounts, so the discounts are easy to lose.

According to NextStudent, federal student loan consolidation can help students who struggle with the often unmanageable burden of student loan debt after college. Student loan consolidation (http://www.nextstudent.com/) extends the repayment term, which helps lower monthly payments. Once a borrower earns NextStudent’s 1 percent LOCKED discount after 36 on-time payments, that reduction is for the entire term of the student loan consolidation, even if the student goes into forbearance or deferment.

Many companies offer great incentives but do not lock in those rate reduction discounts. NextStudent’s 1 percent locked benefit can save students and their parents an enormous amount of money over the course of the repayment term.

Save Money by Consolidating Student Loans With NextStudent

Student loan consolidation (http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp) can assist parents and students by reducing student loan payments by up to 60 percent. In addition, repayment periods are extended by up to 30 years, giving students plenty of time to ease into the real world and become financially self-sufficient.

The federal student loan consolidation rate is mandated by the government. Therefore, the only difference among companies offering federal student loan consolidation is the individual discounts or incentive packages offered through each company.

While many representatives of education funding companies claim to offer the best discounts and packages, when it comes down to it NextStudent provides an ultimate advantage for federal student loan consolidation.

Federal Student Loan Consolidation Packages Offered by NextStudent

Standard Locked
· Discount of .25 percent for Auto-Debit payments
· Rate reduction of 1 percent LOCKED rate after 36 on-time payments
· Easy discount qualification process

Google Package
· Discount of .25 percent for Auto-Debit payments
· .375 percent discount after six months of on-time payments
· 1 percent rate reduction after 36 on-time payments (not locked)

2% Package
· Discount of .25 percent for Auto-Debit payments
· 2 percent rate reduction after 36 on-time payments (not locked)

NextStudent’s LOCKED Discount Benefits

It is easy to qualify through NextStudent. Even students with student loans (http://www.nextstudent.com/) in deferment or forbearance are eligible for the 1 percent discount. And through NextStudent, the discount is guaranteed for the life of the federal student loan consolidation.

Student borrowers can get more information about their possible savings when they check out NextStudent’s student loan consolidation calculator by going to www.nextstudent.com.

NextStudent offers discounts and benefits that help make life easier for student and parent borrowers. With its Standard Locked Package that includes its 1 percent LOCKED discount, NextStudent’s program is a great way to save.

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 at www.nextstudent.com.

About Author

Jeff Mictabor is an enthusiast on the topic of student loan issues in the news. He has been writing for the past 10 years for a variety of education publications. He now offers his writing services on a freelance basis.

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How to reduce student debt consolidation read this

Student debt consolidation is one of the best methods for your monthly payback in installments on loans you made to your academic pursuits diminish. It is not important If your outstanding debt is large or small. Student debt consolidation in each box works in your favor by getting you a lower monthly delivery.

The basic data are to be thoroughly with the student debt consolidation and how best it can work for you. This is possible if you can surf the internet to find and go through many sites that holds information about student debt consolidation. You must know the current trends in student debt consolidation loans and the various terms used by different companies, apart from the interest they will cost. It is a pretty good idea to walk into one of these companies and a discussion with one of their executives have to know how you can profit from student debt consolidation is what they have got to offer.

Try your best to figure out the credentials of the company with whom you are going to make a deal. Then you simply submit your company chosen from the first days how they intend to work on your outstanding debt and to complete your student debt consolidation program. Make sure you got the best rate. Please read the small print of an offer from the student loan consolidation companies and ask them for any item that is not obvious to explain. This exercise may look boring, but it's worth a try if you will later realize with the passing of time. Another fundamental point to be paid to listen, is the prevailing market rate. Before you get the most out of student debt consolidation to get you in the process of student debt consolidation where the rate prevailing in the market are favorable at a low level. Once you decide on entering the student debt consolidation then you should look for any costs that the company can charge for you for various favors they do for you in the race of the student debt consolidation program for these advantages come to you at an additional costs.

At the same time, look for opportunities when your commitments they give you a bonus of some kind. This basic information could go a long way in reducing the actual payment you every month and in general. Companies even offer to 2% interest rate reduction when you time your delivery payments for the first three years. There are also discounts available during the grace period of the debt. Finally there is the point that due to one reason or another you for your outstanding Repay before the deadline or in other words, plan to prepay debt. In this case you should not be charged a penalty for pre payment. Some companies like this one to lock in the interest of 2.70%.

So the options well before you weigh in for student debt consolidation to the right balance between your monthly outreach and the pros and cons of debt consolidation program, your student strike in the form of bonuses and penalties.

About Author

Harry Taker is an author for this article. For more information about Private Student Loans Canada,students loans with no credit check visit http://www.studentloansdebtconsolidation.net

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