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NextStudent.com operates as a student loan brokerage selling the majority of their loans directly to Lehman Brothers owned Campus Door. Perhaps the fact that Campus Door Recently tightened their credit critiera, thusly reducing the amount of eligible borrrowers somehow played into the cash flow difficulties being experienced by NextStudent.com.

The credit crunch that hit the student loan industry late last year played an integral part in Astrive parent company First Marbleheads’ filing for bankruptcy and seeking out Suntrust to step in to underwrite and fund Astrive Student Loans. The crunch has hit every corner of the industry causing major banks like Bank of America to non-bank lenders such as GMAC to pull out of the retail side of the industry altogether.

What’s next for Next Student? If they are unable to pay their vendors for servcies rendered, what is the next logical step? Being unable to pay employees and when that happens, when will the employees stop showing up to work? Once the employees are gone who will originate the loans that are keeping the doors open? Who will be the point of contact for the students with loan applications in process?

At this time, PrivateStudentLending.com strongly suggests any student or parent considering obtaining a loan or with a loan in process immediately re-consider and seek information about potential lenders from sources such as Student Loan Consultants which provides links and detailed information about many student loan lenders.

During this continuing credit crunch that has seen major and minor lenders alike pull out of the student lending market, we encourage all potential student loan borrowers to apply with at least 3 lenders that fit their financial needs. This provides a backup solution should one of the lenders you’ve chosen unexpectedly disappear from the scene.

We will keep on this breaking story and update as information is made available.

In an attempt to help parents and students choose the right private student loan Student Loan Consultants has launched an easy to use student loan comparison tool. By checking or un-checking selection boxes

those searching for a private student loan will find a grid of lenders that meet their basic requirements.

The resulting student loan comparison grid details the highest and lowest interest rate and loan fee available from each lender. While reviewing the private student loan lender list, the potential applicant can expand details of each lender and loan program. Details include not just a short biography of the lender, but any bonus features such as rate or fee reductions that may be available from that lender. If a co-signor is required for the private student loan or if the student may be able to apply without a co-signor.

Applying is easy as each lender provides a link to more detailed information about their private student loan programs and their online student loan application. If you’re not ready to apply immediately you have the option of creating a favorites list to return to at a later time to review with your parent, student or co-signor.

The StudentLoanConsultants.com website includes information on many of the large well known student loan lenders as well as lesser known specialty or boutique lenders which provides a nice mix of loan opportunities. While the focus of PrivateStudentLending.com is private student loans and this is what we reviewed on this site, StudentLoanConsultants.com also has information on PLUS student loans which are specifically for parents, Stafford student loans and student loan consolidations.

An interesting option with a Student Loan Network private student loan is that even if you apply with a co-signor, there is an opportunity to have that co-signor removed from the loan after only 3 years of repayment based upon the students then current credit worthiness.

As with most private student loans, the Student Loan Network offers payment deferral for up to 12 months after you leave college. Funds are sent directly to you in two disbursements, one on September 1st and one on January 2nd. The private student loans may be repaid through a 25 year amortization.

Apply online anytime for a private student loan from the Student Loan Network through this link. The Student Loan Network also provides Stafford student loans for which you may apply through this link.

As always, be sure to exhaust all options in financing your education such as federal student loans, grants and scholarships as well as applying to several private student lenders prior to accepting any private student loan.

The company has posted that they are in the process of upgrades to the application process and product line. During this time those students who already have an application submitted may contact Astrive at 866-463-9599 to check on your loan status.

Students who are attending summer semester or trying to get a jump on their fall education expenses may apply for a private student loan through either Student Loan Advisors or Chase Student Loans. Both companies are accepting new private student loan applications.

As soon as we get notice that Astrive has resumed accepting student loan applications we will post an update.

If you have an application pending, they will continue to process it. Any questions about pending or current loans should be directed to 1-888-780-8918.

Students and parents seeking new private student loans should read our reviews of Chase Private Student Loans and Student Loan Advisors as possible lending options.

Since the specific lender is unknown we are unable to give a recommendation. But if you’ve had difficulty obtaining alternative student loans through sites such as Student Loan Advisors. Simple Tuition gives you a chance to apply to several that you may not have tried.

After several requests for contact that went unanswered it was decided to simply post a neutral review for Astrive. If you are considering applying to Astrive for a private student loan, we’d recommend you try the more responsive lenders we’ve dealt with at PrivateStudentLending.com like Chase Bank Private Student Loans or Student Loan Advisors.

Below you will find some basic information we gathered about the Astrive Student Loan program.

• $1,500 Minimum Loan Amount
• $40,000 Maximum Loan Amount
• Deferred payments for up to 5 years or 6 months after you leave school
• Co-Signor is strongly encouraged during application

The funds from an Astrive Private Student Loan may be used for:

• Student fees, lab fees and related school expenses
• Text Books
• Course-related publications
• Personal computer, school-Internet access charges
• Software, printer, ink cartridges, paper, and other supplies
• Study abroad
• Travel Home

Funds from an Astrive Private Student Loan can’t be used for:

• Car loan or lease payments
• Laundry or Dry Cleaning service
• Spring Break Trips
• Extra dorm furniture
• Doctor Visits
• Tickets to Sporting events

Student Loan Advisors website provides a variety of information from interactive student loan advice with links to student resources to a library of articles and news about student loans.

Details about private student loans through Student Loan Advisors:

• Loan amounts from $2,500 up to a lifetime maximum of $250,000.
• Available to undergrad, grad school, law school and medical school students.
• Available to anyone attending college at least half time.
• No FASFA requirement.
• No maximum family incomes.
• 12 Month payment deferral after graduation or 6 months if not attending school at least half time.
• No application deadlines. Apply at the beginning, middle or end of the semester.
• No application fees
• Funds are sent directly to you. Normally within 48 hours of final approval.

These reasons are why we strongly recommend Student Loan Advisors be the first stop in your search for a private student loan.