Nextstudent.com launches new website for Student Loans

Posted by admin on August 3rd, 2009

As new and returning college students gear up for the school year about to get underway, NextStudent Inc., one of the country’s longtime premier sources for college financing, has unveiled a new look to its website, www.nextstudent.com, with easier than ever one-stop access to a wide array of education financing options and information.

Since the spread of the post-subprime credit freeze into the student loan marketplace a year ago, non-government channels of student loan financing have shrunk to few and far between. Credit-based private student loans — which families have often relied upon to supplement their federal financial aid — have become especially difficult to come by, as several lenders of private student loans have gone out of business. The few lenders that remain have restricted their qualifying criteria to borrowers with superior credit or stopped offering private student loans altogether.

Even federal student loans, however, can be hard to find for those students whose schools have not yet transferred over to the Department of Education’s Federal Direct Loan Program but remain in the government-subsidized Federal Family Education Loan Program. Students enrolled at a FFELP school must obtain their federal college loans through a bank, state agency, or other third-party lender rather than directly from the government.

NextStudent, however, offers a simple online solution for those students and their families trying to find available student loans and other viable financial aid options.

The NextStudent website offers one-stop access to a network of multiple student loan providers. With just one click, students and parents can access a portal that allows them to compare dozens of student loans from various lenders and shop for the financing option that best fits the family budget. This portal puts students directly in contact with available lenders and allows students and parents to apply for student loans right then and there via these lenders’ online applications.

Courtesy of Marketwire.com