| College students all over the United States | | | | government covers any interest on the student |
| probably have just gotten into the swing of | | | | loan while a student is in school, the grace period |
| summer, whether that means finally perfecting | | | | following graduation, and any period of deferment. |
| their golf swing, getting that deep tan, or acing | | | | Other students may qualify for a non-need-based |
| the most recent quiz in summer school. In the | | | | unsubsidized Stafford Student Loan, where |
| midst of these activities and especially at this time | | | | interest is charged to the borrower during this |
| of year, it is important to regroup and begin | | | | same time period. |
| planning financially for the new school year, | | | | Another common type of federal aid is Federal |
| according to NextStudent, a leading Phoenix-based | | | | Parent Loans for Undergraduate Students, known |
| education funding company. | | | | as PLUS Loans ( These credit-based options allow |
| NextStudent EFAs Help Students Understand | | | | parents to borrow funds to cover the education |
| Awards | | | | costs of their dependent children who attend |
| The best place to start is to review all the | | | | college at least half-time as undergraduate |
| correspondence students have received, especially | | | | students. Parents may borrow up to the cost of |
| their award letters. This is the document that lists | | | | attendance, minus any other financial aid. |
| such important information as the actual cost to | | | | Frequently, parents find that they pay more for |
| attend school (includes tuition, fees, room and | | | | their child's education than they anticipated. |
| board), available need-based federal aid such as | | | | NextStudent offers Private Student Loans ( to |
| subsidized Stafford Student Loans ( , | | | | supplement federal student loan sources. Many |
| non-need-based aid such as unsubsidized Stafford | | | | parents prefer these unsecured credit-based |
| Student Loans and Parent Loans for | | | | student loans to borrowing against the equity in |
| Undergraduate Students (PLUS Loans), and the | | | | their homes or other options to cover the |
| remaining out-of-pocket funds required. | | | | remaining out-of-pocket college costs. |
| Unfortunately, many times the award letters | | | | NextStudent offers generous borrowing limits, |
| from colleges are somewhat difficult to | | | | quick preapproval, deferred principal and interest |
| understand, which may lead to confusion when | | | | on most student loans, and no prepayment |
| students attempt to put together a strategic plan | | | | penalties. Funds may be used for study abroad |
| for funding their college dream. However, when | | | | and distance-learning programs in addition to |
| students or their parents contact NextStudent, | | | | traditional schooling. |
| they will receive personal attention from their | | | | Financial Aid Myths Dispelled |
| Education Finance Advisor. EFAs help students | | | | One fairly common misconception is the belief |
| understand the types and amounts of fnancial aid | | | | that a student does not qualify for ANY federal |
| for which they qualify, answer any questions, and | | | | aid. In fact, even a student who does not qualify |
| then work with students to develop a strategy | | | | for any SUBSIDIZED federal aid will almost |
| that best fits students' needs. | | | | certainly qualify for an UNSUBSIDIZED student |
| Students Qualify for a Variety of Federal Funds | | | | loan. NextStudent Education Finance Advisors are |
| Students and their parents have an array of | | | | equipped to help students and their parents |
| federal financial aid options to consider, depending | | | | understand just these types of issues so that |
| on the type of aid for which they qualify. Some | | | | they can put together a plan that best fits the |
| students may qualify for need-based subsidized | | | | needs of the borrower. |
| Stafford Student Loans, whereby the | | | | |