ROHNERT PARK, Calif., April 18, 2018 /PRNewswire/ -- Older Americans are increasingly burdened with student loans, possibly endangering their financial situation in retirement. However, older federal student loan borrowers who are struggling with their loans are eligible for federal programs that may help their repayment process. Ameritech Financial, a private document preparation company which assists student loan borrowers in applying for federal repayment programs, suggests that older student loan borrowers examine repayment opportunities.
"Some older Americans may be at the height of their earning power, but others might be looking at retirement and a much more limited income," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "When you add student loans in the mix, it gets even more complicated."
To make matters more dire for some borrowers, portions of Social Security or other federal benefits may be garnished if they default on a federal loan. However, even older borrowers who are not on the brink of default may still be having difficulty putting together the monthly payments.
These types of borrowers might benefit from income-driven repayment plans (IDRs). These plans base monthly payments on income and family size, potentially becoming the more affordable plan for many borrowers. This also allows borrowers to stay current on their loans.
The U.S. Department of Education offers IDRs to qualified borrowers who successfully complete and submit an application. For borrowers who are stuck or unsure about how to move forward with an IDR application, Ameritech Financial offers a service to address this need. Ameritech Financial provides clients with a loan analysis and document preparation support to ensure clients' IDR applications are submitted correctly. Ameritech Financial is a private company not affiliated with any government agency or loan servicer.
"Older Americans might be feeling the pressure of student loans, but that may not have to be the case," said Knickerbocker. "Ameritech Financial helps borrowers who may need extra guidance and support as they seek to better their loan repayment situation."
About Ameritech Financial
Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.
Each Ameritech Financial telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
Ameritech Financial prides itself on its exceptional Customer Service.
To learn more about Ameritech Financial, please contact:
Ameritech Financial 5789 State Farm Drive #265 Rohnert Park, CA 94928 1-800-792-8621 [email protected]