Parent PLUS and Graduate PLUS Loans Help Students Cover College Costs
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 at NextStudent.com.
Related Tags: student loans, student loan consolidation, student debt consolidation, federal student loans, federal student loan, federal direct loans, federal loan
Your Article Search Directory : Find in Articles
Recent articles in this category:
- Internet Marketing Articles - SEO Articles - How Do You Create the Perfect Title?
You've got a highly-researched niche, and you've written the perfect SEO article to showcase it. Th - Web Traffic Articles - How to Drive Quality Traffic to Your Website
Today, we'll concentrate on effective tricks of driving quality traffic to your web site. If you are - Search Engines Articles - The Opinion Of Web Sites That Sell About Search Engines
It is a known fact the Google is the largest of all the search engines. You do have to wonder though - Search Engines Articles - Improve Seo
With this kind of feedback you can fine tune your SEO marketing strategies and use social media opti - Search Engines Articles - Search Engine Promotion using SEO Software
Search engine optimization is the process of tweaking a website to appear in the top listing of any - Search Engines Articles - What is the main requirement to optimize the website
Search Engines Optimization so many websites are indexed regularly, but still fail to appear in top - Internet Articles - Pay Per Click Management Guide_ AdWords Management
Pay per click management is a vast technique to boost targeted traffic to your website. Google adwor - Search Engines Articles - SEO New York -An Efficient Way to Promote Website
There are different ways to promote anything be it a product service or goods through advertisements - Real Estate Articles - Should You Buy or Rent a Home
The rent a home vs buy a home debate has gone on for years but what is the best thing to do? Should - Search Engines Articles - Search Engine Marketing New York - An Effective Internet Marketing Tool
Search engine marketing New York is the most influential technique to combat the rising competition
Most viewed articles in this category:
- Getting Indexed In Yahoo
Getting indexed in Yahoo has become very difficult in the last few months. The indexing robot, Yahoo - Are You Getting Nuked By Google Lately?
Since the last Google update, there have been many instances and examples of the Google Nuke Bot! Th - The Google Bar and its Jadoo
Here is a simple but very effective to get your Optimized web pages (or any web page you choose) lis - yahoo publish network or google adsense
As a new pay per click campaign, Yahoo has a much smaller advertising base than Google. In many cate - How Google Indexes Content From Your Web Directory
In a fluke, I was able to notice something about the way Google indexes content from web directories - Unique Content Is Your Key To Success!
As you search around this article site looking for articles to add to your website, consider this: t - Google News - Just another article announcer?
In Google's recent battle towards becoming an international news center, I've come to notice that th - Can Google Really Deliver Country Specific Searching?
This is a serious matter, can Google really deliver top quality search results for other countries? - Is Google having a tough time with their website limit?
If you are one to pay attention to what happens within the Google realm, you might find yourself thr - Google - A Bit of History
The first question most people have is, “What the heck is a “Google?” It is a play