Arkansans are definitely having a problem with student debt. It has gotten to the point where some of them have been forced to default on their loans since they can't even get them discharged through a chapter 7 bankruptcy.
The sad fact is that seven in 10
Arkansans graduating with student loan debts did better as their average debt ranked 35th in the nation. Of course, there are several reasons why they owe so much on student loans. But the most important factor is the ever-growing cost of going to college. As an example of this the total cost of going to the
For residents of
The online research company Studentloanconsolidationreviews.org recently investigated the companies that offer debt relief to debt-burdened residents of
Of these two companies,Studentloanconsolidationreviews.org gave its top ranking to National Debt Relief. Studentloanconsolidationreviews.org liked the fact that this company has continually maintained an A rating with the
National Debt Relief spokesman,
National Debt Relief offers a number of federal student loan repayment programs including Extended Repayment, Graduated Repayment and the four Income-driven repayment programs – Pay As You Earn, Income-Contingent, Income-sensitive and Income-based. It is also able to help its clients obtain a Federal Direct Consolidation Loan if this represents the best solution.
National Debt Relief never charges an upfront fee and its services are totally performance-based. What this means is that if it's not able to find a program with better payment terms then what the customer currently has, it charges her or him nothing.
Studentloanconsolidationreviews.org ranked SoFi second best. It offers debt consolidation loans with fixed-rate and variable-rate interest and terms of five, 10 and 15 years. SoFi also offers loan-refinancing services.
Studentloanconsolidationreviews.org found two problems with SoFi. The first is the inflexibility of its loans as they have both a fixed interest rate and a fixed term with no repayment options. If a person were to become sick or in some other tough financial situation, he or she would not be able to take advantage of the benefits of federal loans such as changing to a different repayment plan. Instead, he or she would be stuck with the terms of the SoFi loan and with no chance of switching to a better repayment program.
Second, SoFi relies on peer-to-peer lending. The loans actually come from alumni of the school that the borrower attends or attended. This means for a person to be eligible for a SoFi loan, he or she must be an alumnus of one of the schools that belong to the SoFi network.
Read the full story at http://www.prweb.com/releases/student_loan_debt_relief/in_Arkansas/prweb12072282.htm
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