According to the student loan industry’s own statistics, 39 percent of student borrowers no longer can afford to make the payments on their student loans due to unmanageable debt burden after college. Since student loan payments are so exorbitant, students no longer can afford NOT to consolidate, according to NextStudent, the Phoenix-based premier education funding company.

Discounts Offered By NextStudent Save Borrowers Money

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

A federal student loan consolidation through NextStudent gives borrowers significant advantages. NextStudent’s 1 percent interest rate reduction is a LOCKED discount available for the entire life of the loan, not just as long as payments are made on time. This incentive can save students and their parents an enormous amount of money over the course of the repayment term.

NextStudent Federal Student Loan Consolidation Packages:

Standard Locked

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

Google Package

* Discount of .25 percent for Auto-Debit payments
* .375 percent rate reduction after six months of on-time payments
* 1 percent discount 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)