Ameritech Financial on College Nostalgia and Its Effects on Student Loan Borrowers

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Aug 27, 2018, 08:00 ET

ROHNERT PARK, Calif., Aug. 27, 2018 /PRNewswire/ -- What do college graduates miss most about their glory days? For many, it wouldn't be paying back the $1.5 trillion of debt they owe for student loans. Now they have careers, partners, familial obligations and enough distance since graduation to feel wistful about college. In a poignant collection of responses, former graduates talked about missing various aspects of their college years. From sleeping in, getting free stuff and very long summer vacations, they felt like they had it all back then. If student loan debt is weighing them down and preventing them from reliving those glory days, borrowers should consider income-driven repayment plans (IDRs), which may help reduce their monthly payments. Ameritech Financial is a document preparation company that aligns student loan borrowers with federal programs offered by the Department of Education.

Some of the traditional markers of adulthood no longer apply to the current generation who make up the adult population. In the 1950s, expectations about getting married, buying a house and having children were largely adopted by those growing up then. Today, Millennials are putting off marriage and starting families, partly because many of them have high student loan debt. They have a difficult time making large financial investments, like buying a house, for the same reasons. Student loan borrowers should research IDRs to potentially lower their monthly payments on debt.

"There's nothing wrong with feeling nostalgic about college. It only becomes a problem if you find yourself living in the past more than the present," noted Tom Knickerbocker, executive vice president at Ameritech Financial. "Federal student loan debt can cause a lot of stress to borrowers and could prevent them from enjoying the moment. We try our best to help alleviate their financial stress by helping them apply for income-driven repayment plans."

People also miss their college days for more meaningful reasons, such as for the social life and sense of purpose. Graduates talk about how easy it was to see their friends around the dorms and campus. Now they are lucky if they can Skype or catch up on social media with their classmates, many of whom have moved to distant cities or back home. Having a social life grounded them and brought emotional stability to their lives. Furthermore, having a goal, such as graduating from college with a degree, gave them purpose. They went to classes and followed a path to reach their goals. When they graduated, some student loan borrowers encountered unemployment or low-paying entry-level jobs. Their entire lives had been built towards graduating college. Once they finished, many asked: "Now what?"

"Some borrowers may feel like they graduated with a degree but they didn't gain many life skills," added Knickerbocker. "Perhaps if they had known more about the consequences of student loan debt, they would have made different financial decisions. I recommend trying not to beat yourself up about it. Assess your situation, do some research and then make a plan. Keep moving forward."

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.

Ameritech Financial Newsroom

Contact

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]

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SOURCE Ameritech Financial