Reveals Top Two Student Debt Relief Options in Iowa

Share Article reviews and shares the top two student debt relief options for Iowa residents. logo
Iowa students graduate owing an average student debt of $29,456, ranking it sixth worst in the nation.

How much does student debt matter? The short answer to this is a lot – for people who are having a hard time repaying their student loans. For one thing, defaulting on student loans has a significant impact on credit scores just as does defaulting on an auto loan or a credit card debt. What makes this issue even more significant is the fact that Iowa students graduate owing an average student debt of $29,456, ranking it sixth worst in the nation. In addition, 71% of Iowa students are required to borrow money to finance their educations, which makes the state third worst in this category. On a brighter note, unemployment in Iowa as of June of this year was a healthy 4.4%.

The company recently did a study of companies available to help Iowa students achieve student loan debt relief. What it found was that the top two are National Debt Relief and SoFi (Social Finance Inc.).

The analysis done by focused on three factors. First, the company's business model, second its corporate history and third the form or forms of relief offered.

National Debt Relief was ranked best on all three of these criteria. For example, its business model is performance driven. It charges no upfront or maintenance fees. If it is unable to find a customer a repayment program with lower payments and a better term than what he or she currently has, the company charges nothing.

Second, National Debt Relief has been in business since 2007 during which time it has helped more than 100,000 individuals and families achieve debt relief.

Third, gave National Debt Relief top marks because of the way it can help student debt strapped Iowans. “We liked the fact that the company offers a number of options for student loan repayment from the Department of Education,” said spokesman Michael Smith. “This enables National Debt Relief to provide its clients with the one that's best suited to him or her given their financial circumstances. For example, one of the options available through National Debt Relief is Pay As You Earn repayment, which caps a person's monthly payments at 10% of his or her disposable income. And as you may have read, Pres. Obama recently signed an executive order that makes many more people eligible for this repayment program.” also ranked National Debt Relief number one as it has continuously maintained an A rating with the Better Business Bureau and that it's a member of the American Fair Credit Council. Plus, its customer service can be reached by telephone (1-888-323-9006) at any time of the day of the week. National Debt Relief will even prepare all the paperwork required to get its customers into a new repayment program with lower monthly payments and better terms than what they currently have. While people can prepare the paperwork themselves for free many choose to let the professionals at National Debt Relief do this for them.’s analysis of debt relief companies available to Iowans ranked SoFi second as its business model offers less flexibility than that of National Debt Relief. This is because SoFi offers only debt restructuring and debt consolidation loans. Once a person signs for a loan from SoFi, its monthly payments, term and repayment options are fixed. In addition, SoFi uses peer-to-peer lending, which means the money comes not from a financial institution but from a person or group of people. In the case of SoFi, the lenders are alumni of the school that the borrower is either attending or attended. While there are 550 schools in the SoFi network, there are many that aren't. If you attended one of those schools, you would be ineligible for either a loan or debt restructuring from SoFi.

For residents of Iowa having problems repaying your student loans should definitely go to to learn more about both National Debt Relief and SoFi.

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Michael Smith
Student Loan Consolidation Reviews
since: 07/2014
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