Are you a May graduate with student loans looking at six-month grace periods that are ending sometime this month? If you’ve got multiple student loans going out of grace and into repayment, you’ll soon be faced with trying to juggle multiple bills, multiple due dates, and multiple monthly payments.

But you could eliminate the hassle of multiple student loan payments and help make your student loan repayment easier to manage by consolidating your eligible federal student loans with a Federal Consolidation Loan from NextStudent, a leading Phoenix-based education funding company.

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What’s Federal Student Loan Consolidation?

Student loan consolidation allows you to combine your eligible federal student loans into one single consolidated loan with one lender, one monthly bill, and one convenient monthly payment. To be eligible to consolidate your student loans, you can’t currently be enrolled in school more than half time. The student loans you’re looking to consolidate must be in repayment, in a grace period, or in an authorized deferment or forbearance period.

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Consolidating Federal Parent PLUS Loans

Parents with federal parent loans are also eligible to consolidate. Parents can consolidate the PLUS loans they took out to help you pay for school as soon as the PLUS loans have been fully disbursed and have entered repayment, even if you’re still in school full time. Although your parents can consolidate their PLUS loans, you won’t be able to consolidate your own student loans with your parents’ PLUS loans.

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Take Advantage of All the Benefits of Federal Student Loan Consolidation



No fees

No cost to apply

No credit checks

No co-signers required

No prepayment penalties

Fixed interest rate

Repayment terms up to 30 years

One single monthly payment for all your eligible federal student loans



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There are never any charges or credit checks to apply for a Federal Consolidation Loan with NextStudent. And there are no prepayment penalties, so you’ll never be charged extra fees just for paying more than the minimum each month or for paying off your student loan consolidation early.

Student loan consolidation lets you lock in a monthly payment with a fixed interest rate. You may also be able to cut your monthly student loan payments by as much as 50 percent when you consolidate your federal student loans with NextStudent. A federal student loan consolidation could extend the repayment term on your student loans by up to 20 years; by extending your payments over a longer repayment term, a consolidation loan could lower the amount you have to pay each month.

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Private Student Loan Consolidation

If you have private student loans in addition to (or instead of) federal student loans, you won’t be able to consolidate your private student loans under the federal student loan consolidation program. But you may be eligible to consolidate your private loans separately with a NextStudent Private Consolidation Loan, which offers the same convenience of a single consolidated loan for your private student loans.

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NextStudent believes that getting an education is the best investment you can make, and we’re 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.

By: Jeff Mictabor

Debt from student loans can be crushing to recent college graduates and get in the way of achieving other life goals. Fortunately, there is a way to reduce the strain on your finances and even improve your credit score. Many graduates are turning to loan consolidating to help manage their loan repayments. The procedure and requirements differ from federal and private loans.

Consolidating Federal Loans

Stafford loans and Federal Perkins loans are examples of federal loans. These loans are given to you by the government and may or may have accrued interest while you were attending school. Consolidating your federal student loans provides a fixed-rate refinancing program that takes all of your existing federal loans and combines them into one new loan. Your monthly student loan repayment could be cut by as much as 50% as well as reduce your interest rate by .6% if you consolidate during your grace period. One monthly payment will help you simplify your finances.

Payment relief

By creating one consolidated loan you can receive payment relief, a lengthening of your repayment term from the standard 10 years to up to 30 years. This frees up your disposable income to spend on other expenses like car payments, housing, and work-related necessities. There are no penalties for overpayment, so when the funds become available you can make larger payments and minimize your repayment term.

Consolidating Private loans

Like federal loans, consolidating private loans means lumping everything into one new loan. To consolidate your private loans from undergraduate school you will have to apply with a qualified co-signer in order to be approved. If you have a graduate degree you do not have to apply with a co-signer.

Some of the benefits include reduced interest rates, rate reductions, deferment, and no prepayment penalties. Loan holders may lower your interest rates if your credit has improved. Applying with a co-signer who has good credit could help you get a lower APR loan. There is a grace period for medical/dental residents as well as military personnel if their private student loans are consolidated. As with federal student loan consolidation, you can also have your repayment period extended allowing you to pay the lowest monthly payment possible.

By: Joseph Devine

You’ve heard of the term school loans consolidation. But, do you know what it means? If you have been worrying about how to be able to pay your student loans with the high interest rate and a short time to pay, then you should consider consolidating your school loans.

If you’re interested, then read on. This article will give you some information about school loans consolidation, what it can do for you, and where and how you can apply for one.

Student Loan Consolidation

What can it do for you?

Here are some advantages of loans consolidation. After graduation, consolidation loans can really help ease the burden of repayment. It does this by bundling all your student loans into one, single loan with one lender and with one repayment plan. Both the students and parents are eligible to apply for student loans consolidation.

That’s not all. With student loan consolidation, you could cut your student loan payments in as much as 50%. That means saving thousands of dollars on the life of your loan. You can lock in a low monthly payment with a fixed interest rate for the life of your loan, and you would never have to worry about application fees, origination fees, credit checks, income verifications, or prepayment penalties. This will really help reduce your monthly payments.

Another great thing about it is that when you consolidate your loans, you not only get a lower interest rate, you can also extend the time to repay for up to 20 more years. This is to help you be able to settle all your accounts easily. Just think: lower interest rates and a longer time to repay.

Federal Student Loan Holders

When you have a federal loan like PLUS and Stafford you are qualified to avail of Federal Consolidation Loan program so that you will still be able to lower your monthly payments for as much as 60%.

Private Consolidation Loan

Private loans is another thing. If you have already consolidated your federal loans, or you have private student loans to repay, don’t worry. You can still refinance all your student loans, including private loans, at low rates that can save you money. This is through the Private Consolidation Loan.

Where and How You Can Apply for One

Applying for student loans consolidation couldn’t get any simpler. Now, you can go online and complete the whole application process in just a matter of minutes. All you have to do is fill up some forms. Make sure that when asked for a contact number, you give one that is working and where you can easily be reached. This is because in some companies, customer service representatives will contact you within 15 minutes of submitting the application forms. Just check with the company you choose regarding the requirements. There are some that will require you to have a co-signer, and there are some who don’t. Those who do will give you an incentive, like getting even lower interest rates if you have a co-signer with good credit background. Also, you can terminate your co-signer after making on-time payments for a specified time. It really depends on the company you choose, so put some thought into this and choose wisely.

More and more students are taking to school loans consolidation as the solution to paying off their debts. This is really a good way to aide you in repayment of your school loans.

By: Torrie Cantor