Best Options for Arizonans Struggling With Student Loan Debts Revealed by

Share Article recently evaluated the student debt relief companies available to Arizonans who are struggling with student loans.

total cost of attending Arizona State University in the academic year 2011-2012 was $22,916.

Residents of Arizona that are struggling with student loan debt or even faced with the dreadful prospect of having to default on their loans have new help available in the form of student loan debt relief.

The dismal fact is that 54% of Arizona college students graduate with student loan debts average $20,299 making Arizona 47th in the nation. Arizona State students graduate owing an average of $18,615, while University of Arizona students graduate owing $22,269”.

There are, of course, several reasons why graduating students owe so much on their student loans. However, one of the primary causes is the cost of attending college. As an example of this, the total cost of attending Arizona State University in the academic year 2011-2012 was $22,916.University of Arizona students paid an average of $23,115 to attend the school for a year and the total cost of attending Arizona Northern University was$22,730.

When you couple this with Arizona’s unemployment rate of 6.8% it becomes clear why so many recent graduates are having a tough time paying back their student loans. Most people with student debt have multiple loans. When this is the case, one good option is to get a debt consolidation loan and pay them all off.

The website recently evaluated the student debt relief companies available to Arizonans and revealed what it found to be the top two – National Debt Relief and SoFi (Social Financial, Inc.). ranked National Debt Relief as its top choice in student loan debt relief for several reasons. For one thing, the company operates in a very ethical manner. As an example of this, it charges its customers nothing upfront. National Debt Relief ranks highly in customer satisfaction and has continuously maintained an A rating with the Better Business.

In describing his company’s service, spokesman Michael Smith said, “What we first do is evaluate a client's financial situation including his or her earnings outstanding debts, earning potential, educational background and more. We next go to the U.S. Department of Education's website and review his or her loan profile. We then evaluate alternate repayment programs such as Extended Repayment, Graduated Repayment and Pay As You Earn Repayment. If we determine that one of these programs would have better terms and lower monthly payments than our client's current repayment program, we then recommend it to him or her. If our recommendation is accepted we then prepare the paperwork necessary to get our client into the new program. While people can do this themselves and for free, many elect to let the professionals at National Debt Relief do it." also liked the fact that this service is totally performance-based. If National Debt Relief is not able to find a better program than what its client currently has, it charges nothing. ranked SoFi second in student debt consolidation. This company was started by a group of business students at Stanford University that wanted to help their fellow students. While the program began at Stanford, it has expanded and is now nationwide. The way it approaches lending is commonly called peer-to-peer lending.

SoFi offers debt consolidation loans and loan refinancing services and both fixed-rate and variable-rate loans and terms of five, 10 or 15 years.

One problem with SoFi is that its loans are very inflexible. They have a fixed interest rate and a fixed term and no ability to change repayment plans. Plus, if a person let's SoFi consolidate both federal and private loans, he or she immediately loses all the benefits that come with a federal loan. This would include repayment plans based on income, and student loan forgiveness programs.

A second problem that found with SoFi is that the loans actually come from alumni of the school that the borrower is attending or attended. This means he or she must be a student in or an alumnus of a school that is part of the SoFi lending network. What this translates into is if you are not attending or are not an alumnus of one of the SoFi schools you would not be eligible for a SoFi loan. In comparison, National Debt Relief offers its services to everyone.

Arizonans that struggling with student loan debts should definitely go to the website to get more information on these two companies and on student loan debt relief in general.

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Michael Smith
Student Loan Consolidation Reviews
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