National Debt Relief ranks highly for customer service as it can be reached by telephone (1-888-323-9006) at any time of the day of the week.
Montgomery, AL (PRWEB) August 04, 2014
Alabamans are clearly struggling with student debts. Many have actually been forced to forego major purchases such as a house or even getting married due to the size of their student debts.
In fact, Alabama students are graduating with an average of $27,639 in student loan debts making the state 24th in the nation. This is even higher than the $24,903 average student debt of Auburn University graduates and that of recent graduates of the University of Alabama at Huntsville that have an average of $25,437 in student loan debt.
The primary reason for this is the ever-increasing cost of attending college. For example, the total cost of attending the University of Alabama at Birmingham was $21,153 in the academic year 2011-2012. The total cost of attending the University of Alabama for that year was $23,939 and the cost of attending Auburn for the same year was $22,352. And most experts believe that these costs have risen even higher in the past two academic years.
The online company Studentloanconsolidationreviews.org recently analyzed companies available to the state’s residents that could help with student loan debts. Its analysis revealed that the top two companies are National Debt Relief and SoFi (Social Financing Inc.). And of these two, it found National Debt Relief to be the best.
National Debt Relief was ranked highest by Studentloanconsolidationreviews.org for several reasons, not the least of which is its business ethics as it charges nothing until it has helped a customer consolidate his or her loans or has found repayment programs with lower interest rates and better terms than what they now have. In addition, National Debt Relief charges no upfront fees and no maintenance fees. Its services are totally performance based. In other words, if National Debt Relief is not able to find a program with better payments and terms, it charges its customer nothing.
The way this service works is that National Debt Relief first reviews the customer’s financial situation including evaluation of his or her employment status, educational background, outstanding debts, financial situation and more. It then reviews his or her loan profile with the U.S. Department of Education (ED) to determine if there is another repayment program that would be better for that person. If so, National Debt Relief then prepares the paperwork required to get its client into the new program.
In discussing the company’s new service, National Debt Relief spokesman Michael Smith noted that, “We offer a suite of options for student loan consolidation from the Department of Education. This allows us to provide a client with the one that’s best suited to him or her given their financial circumstances. One of these options is the Graduated Repayment Program that’s become very popular because it allows low-income graduates to start with lower payments that then increase gradually every two years as their income increases."
Studentloanconsolidationreviews.org also found that National Debt Relief ranks highly for customer service as it can be reached by telephone (1-888-323-9006) at any time of the day of the week. The company consistently earns an A rating from the Better Business Bureau and is a member of the American Fair Credit Council.
Studentloanconsolidationreviews.org ranked SoFi second for student debt consolidation loans. It was founded by a group of Stanford business students who wanted to help other business students. The program began at Stanford, expanded to other schools, added some programs and eventually went nationwide. Its approach to lending is commonly called peer-to-peer lending.
SoFi offers both loan consolidation and loan refinancing services. It also has both fixed-rate and variable-rate loans with terms that can be five, 10 or 15 years. One problem with SoFi is that its loans are very inflexible. Once you take out a SoFi loan, you're stuck with it. If you were to consolidate a private loan with a federal student loan you would lose the benefits of a federal student loan such as repayment plans based on income, deferment periods for unemployment and student loan forgiveness programs. And third, you must be the alumnus of one of the colleges and universities that participate in SoFi to be eligible for one of its loans.
Alabaman struggling with student loan debts should definitely go to the website Studentloanconsolidationreviews.org for more information on these two companies and on student debt consolidation in general.