Best Debt Companys

166 Companies 2,736 Real Customer Reviews

5 Simple Facts about Student Debt [INFOGRAPHIC]

Posted By:  |  September 14, 2015  |  0 Comment(s)

Recent college graduate with tuition debt, horizontal

At $1.2 trillion, student debt has surpassed credit card debt and car loans, and is nearly eclipsing mortgage debt as the leading cause of debt in America. As a result, college students are not completing their post-secondary education and graduates are having difficulty finding jobs with adequate pay. Many graduates of for-profit institutions are also struggling to apply their skills in a way that will help them pay off their student debts. But the effect does not stop there. Parents who are cosigners on their children’s student loans are also taking a big hit to their credit, putting off retirement, and once again sharing their home with their adult children.

However, as the economy slowly recovers, and government scrutiny of for-profit institutions increases, the highly debated issue of student loans, has not yet reached “crisis status.” Through well-researched and responsible borrowing practices, students and parents alike can work towards a more educated and financially healthy future.

If you find yourself struggling with student debt, get educated, and check out our top recommended student debt reconsolidation company reviews!

5 simple facts about student debt at $35,000 per student, student debt is higher than ever. college university issues this balance of $35,051 to student n. debt dean of college university assistant dean of college university. Some schools have higher default rates than others 2000 2010 % of students who default for-profit community public 4-year private 4-year student debt affects more than just the students; it affects parents. retirement credit score: 425 21% of student borrowers default within two years. borowed less lower-income family did not complete program faired poorly in job market these trends are not likely to continue. as the economy recovers, more students are entering the labor force to pay off their student debts. the  government has also increased its scrutiny and regulation of for-profit institutions.

Poll

  • How important is it to you for a debt consolidation company to offer financial education resources?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

Recently Reviewed:

Trending Blog Post:

Want us to review a company?

If there is a debt company that you don't see on our site, and would like us to review, please contact us.

Real Reviews (yes they’re real)

With so many debt relief companies out there, and a lack of sites willing to bring you the HONEST breakdowns of each company, what source can you turn to for the real information you can trust?

We are dedicated to bringing the truth out, and rank debt relief companies as they should be. Through our investigation, and experience with each company, we rank each company, and bring you our honest, unbiased opinion. We also include authentic user reviews by past customers of each company that are moderated and verified.

Like many sites, we are compensated through affiliate relationships with each company we review, however all of our rankings are based on our 11-Point Ranking Criteria.

All reviews are subject to moderation and approval. Any reviews that may resemble false information, or competitors of another company will need to be verified by our staff before being approved and published. We reserve the right to approve or deny any reviews left on this site.