ROHNERT PARK, Calif., Dec. 15, 2017 /PRNewswire/ -- Serving in any branch of the military can be a deeply enriching experience. But while service members are lauded for their sacrifices, they often need to finance their educations by taking out student loans. In return for their service, there are several student loan assistance programs that repay that service. Ameritech Financial, a document preparation company that assists borrowers in applying for federal repayment plans, can help past and present military service members find potential options for relief from high monthly student loan payments through income-driven repayment options.
For those in the military aiming to pursue college later, there are tuition assistance programs that will ease the financial burden of college. But for those who went to college before enlisting, tuition assistance isn't helpful. In 2012, about 41 percent of those enlisted had student loans. Those service members had to worry about their student loans on top of the worries and expectations of their military careers.
"People serving in the military aren't immune to student loan debt," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "In fact, when they are deployed in another country it can make managing their debt even harder, leaving some loans to increase until they are unmanageable. It doesn't have to get that bad for anyone."
There are a variety of options for active duty members who need help with their student loans, ranging from repayment assistance to forgiveness. Each branch of the military has its own programs, so service members should talk to their recruitment office or servicer about their options. For example, the National Guard has a repayment program in which members can receive up to $50,000 in forgiveness if they enlist for at least 6 years.
All people on active duty have access to interest cuts and additional deferment opportunities. However, borrowers should be aware that deferring student loans may not prevent interest from accruing and often adds to the balance to be dealt with later.
Veterans have some similar options, but available benefits mostly center around helping them and their family members go to school, including the Forever GI Bill. However, any veteran who has suffered an injury while on duty may be able to discharge their debt completely through total and permanent disability discharge. Otherwise, income-driven repayment options are always available for those who have trouble affording their monthly student loan payments. Ameritech Financial specializes in helping borrowers apply for an IDR that fits their financial situation, including Public Service Loan Forgiveness when applicable.
"Those serving our country through the military have enough to worry about without student loans," said Knickerbocker. "At Ameritech Financial, we help borrowers apply for repayment plans intended to lower payments so they can focus on what's really important in their lives and for our country."
About Ameritech Financial
Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of people with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.
Ameritech Financial 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).
Ameritech Financial prides itself on its exceptional Customer Service.
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive #265
Rohnert Park, CA 94928
SOURCE Ameritech Financial