American Financial Benefits Center Encourages Borrowers to Live Life Despite Student Loan Debt
Apr 09, 2018, 14:15 ET
EMERYVILLE, Calif., April 9, 2018 /PRNewswire/ -- College students work hard to earn their degrees. Some may even look forward to graduation so they can start living their lives. However, student loan repayment may push that transition further into the future. Borrowers feeling burdened by their student loans may make sacrifices that they feel get in the way of the life they had hoped to live after college, and they may instead look forward to the end of repayment as the time at which their lives truly begin. American Financial Benefits Center (AFBC), a document preparation company that helps its clients with federal income-driven repayment plan paperwork, reminds students that life with student loans doesn't have to be delayed or filled with financial stress.
"Financial stress might push borrowers to laser focus on their loans and put off living their lives," said Sara Molina, Manager at AFBC. "There's another way. Federal repayment plans can potentially allow borrowers to stay current on their loans and also live the life they want to live."
Financial stress is a powerful force that can affect both physical and mental health. Student loans can contribute to that stress by straining an individual's budget and affecting that person's lifestyle. While some borrowers choose to eliminate that debt as quickly as they can to alleviate that strain, they may be delaying their life in the process. They may stall moving into their own living situation or saving up to buy a house. They may postpone getting married or starting a family due to the costs. In fact, many student loan borrowers are doing just that.
AFBC suggests an alternative approach for borrowers eager to live their lives, but who have limited means. Federal income-driven repayment plans cater payments to borrower's income and family size, potentially reducing them to as low as zero dollars for certain circumstances. Additionally, after 20- to 25-years of enrollment in an IDR, any remaining balance is forgiven. Any reduction in student loan payment can alleviate stress on a household budget.
"At AFBC, our clients who are in IDRs are in a position to live their lives without delay due to student loan payments," said Molina. "We hope that they feel able to work toward their financial and lifestyle goals. Plus, we help them with annual IDR recertification applications as long as they wish to remain in the program."
About American Financial Benefits Center
American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.
AFBC is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
Contact
To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
1-800-488-1490
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SOURCE American Financial Benefits Center
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