Studentloanconsolidationreviews.org Reveals Its Ratings of Student Debt Relief Options Available To South Dakotans
Sioux Falls, SD (PRWEB) September 30, 2014 -- South Dakota is, of course, the home of the famous Mount Rushmore Shrine to Democracy. Sculptor Gutzon Borglum created it and it took him 14 years to complete the project. The sculpting includes the faces of Thomas Jefferson, George Washington, Theodore Roosevelt and Abraham Lincoln. Believe it or not, it cost just $1 million. It is the world's greatest mountain carving and now considered priceless.
However, the famous Mount Rushmore's shrine to democracy sculptor has a serious rival. Located just 17 miles away from Mount Rushmore is the Crazy Horse Mountain carving, which is being carved out of Thunderhead Mountain. The monument consists of the Lakota Chief Crazy Horse astride a horse with his arm outstretched pointing forward. The final dimensions of this sculpture are planned to be 641 feet wide and 563 feet high. This would make it the world's largest sculpture. Sculptor Korczak Ziolkowski began work on the sculpture in 1948 and it is still far from complete.
It takes a huge amount of patience to begin a project knowing that it may take as many as 80 years to complete. While it doesn't take that much patience to pay off student loans it can still take some patience as their terms can be cast anywhere from 20 to 30 years.
South Dakota students that graduated this past year had an average of $25,128 in student debt, which ranks the state 28th in the US. South Dakota students are certainly not alone in this either. Every year 20 million Americans go to college and of that 20 million, 12 million or about 61% end up borrowing money to help finance their educations.
Students in South Dakota would probably end up owing even more if it wasn't for the fact that the cost for an in-state student to attend school there is fairly reasonable. As an example of this, a year at Black Hills State University costs an in-state resident only $17,997. A year at The University of South Dakota costs just $19,546 and even the South Dakota School of Mines and Technology costs a reasonable $20,605. This is in comparison with schools such as the University of Arizona where one year costs an in-state resident $23,115 or the University of Michigan where a year costs $28,848.
Given the fact that student debt has become such a huge issue and that South Dakota students graduate owing $25,000 or more the company Studentloanconsolidationreviews.org recently surveyed the companies available to South Dakotans that could help them with debt relief.
"We looked at a number of different factors in our study," said Studentloanconsolidationreviews.org’s Michael Smith. “The ones we felt most important were the options offered by these companies, their histories and how they treat their customers. National Debt Relief came out number one in all of these areas and as a result we are rating it best. We gave our second best rating to SoFi (Social Finance, Inc.)."
National Debt Relief is a seven-year-old company that is an established leader in consumer debt relief that recently added student loan consolidation plans to its list of services.The way it works is that it first analyzes a client's financial situation and federal student loan portfolio and then looks for another repayment program that would have better terms and lower monthly payments than her or his current plan.
"We offer a number of different options for both federal and private student loan relief,” said National Debt Relief spokesman Paul Ritz. “For example, there is standard consolidation options where several student loans can be rolled into one and then paid off in equal monthly payments. There is also Graduated Repayment where the payments are low to begin with and then increase gradually over the life of the loan. And there is Extended Repayment that lowers monthly payments by stretching out the length of the loan to as many as 25 years. We operate strictly on a performance driven basis. If we are unable to find a repayment program through the US Department of Education that's better than our client's current plan, we charge them nothing."
The way that SoFi helps student debt strapped South Dakotans achieve relief is through low interest debt consolidation loans. It offers loans with both fixed and variable interest rates that began at a reasonable 2.66% (with Autopay). “SoFi is actually more of a social community,” said Smith. “ It has 550 member schools and universities and its loans actually come from the alumni of those schools. You must be an alumnus of one of them to be eligible for a SoFi loan. It does offer its members other benefits not available through standard loan consolidation companies such as career counseling, career support and unemployment protection.”
Residents of South Dakota that are struggling with student debts and that would like to know more about National Debt Relief and SoFi should go to the site http://www.Studentloanconsolidationreviews.org.
Jimmy Saver, Best Debt Consolidation Loans, http://www.bestdebtconsolidationloans.org/, +1 (877) 869-5111, [email protected]
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