Many Floridians that have multiple student loans have turned to debt consolidation as a way to better manage their debts and to get lower monthly payments.
Miami, Florida (PRWEB) July 29, 2014
The website Studentloanconsolidationreviews.org recently completed an evaluation of student loan consolidation companies and is now announcing what it found to be the top two.
According to Michael Smith, a spokesperson for Studentloanconsolidationreviews.org the best student loan consolidation companies for residents of Florida are National Debt Relief and SoFi (Social Finances Inc.).
The principal reason why Floridians are having a problem with student loans is mostly due to the escalating cost of attending school in state. Florida residents graduate owing an average of $23,873 in student loans. This is no wonder given the fact that it now costs $20,095 to attend the University of South Florida for just one year. A year to attend Florida State University costs $20,853 and a year at the University of Florida is $20,218.
To make matters even worse the median income for Floridians is only $56,283 and the state’s residents carry an average credit card debt of $4,861.
Many Floridians that have multiple student loans have turned to debt consolidation as a way to better manage their debts and to get lower monthly payments. Given this, Studentloanconsolidationreviews.org decided it was important to evaluate the student loan consolidation companies available to those Floridians that might want to consolidate their loans and get a lower payment. What this evaluation determined is that the two best choices are National Debt Relief and SoFi.
"We rank National Debt Relief as the top choice," said Smith. "It operates very ethically and treats its customers honestly and with respect. We found that its representatives are experienced, knowledgeable and helpful. We also liked the fact that National Debt Relief has consistently maintained an A rating with the Better Business Bureau."
National Debt Relief also ranked number one because of its liberal cancellation policy. If a customer is ever unhappy with the company for any reason, he or she can cancel out without ever having to pay any fee or penalty. Plus, the company's customers are not required to pay anything until they are satisfied with their new student loan repayment plan. "We see this as a no lose proposition,” said Smith.
SoFi is a relative newcomer to the student loan consolidation business. It was founded by a business student at Stanford University and was originally designed to help other business students. However, the company has now expanded, added new products and is nationwide. It ranked second to National Debt Relief primarily because of its approach to loans as it uses what is basically peer-to-peer lending. In order to be eligible for one of its loans, the person must be a student at or have graduated from one of SoFi’s 550 member schools. If so, the money then comes from that school's alumni.
Studentloanconsolidationreviews.org also ranked SoFi second as it will combine federally backed student loans with private loans, which is a practice that is frowned upon by many experts in student debt.
Residents of Florida that are having a problem repaying their student loans and would like to know more about National Debt Relief and SoFi should go to the site http://www.Studentloanconsolidationreviews.org.