ROHNERT PARK, Calif., March 27, 2018 /PRNewswire/ -- Federal student loan balances have been increasing for the past decade, and recent numbers have shown the average student loan balance is $34,144. For borrowers who are unable to make their payments, there are several federal options for dealing with that debt. Ameritech Financial is a private document preparation company that helps borrowers navigate those options and apply for them. The company does not, however, gain control of its clients' loans.
"At Ameritech Financial, we have helped thousands of borrowers apply for federal income-driven repayment plans," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "But what exactly does that entail? It's important first and foremost that clients know that we never take control of their loans."
Enrolling in an income-driven repayment plan may require a borrower to consolidate their loans, as borrowers often leave college with multiple loans. They may also need to put their loans in a temporary forbearance while their IDR application gets processed by their servicer. While Ameritech Financial helps its clients take the necessary steps in an IDR application process, the company does not handle its clients' loans directly.
Instead, loans are consolidated, placed in forbearance, or put in a repayment plan by the loan servicer who holds the loans after the loan servicer receives paperwork requesting that it do so. Only the servicer can make those changes to loans, and only borrowers are responsible for making payments — or not — depending on the current or new status of their loans.
However, Ameritech Financial specialists are experts when it comes to the available federal income-driven repayment plans, what the paperwork entails, and what additional steps or documents may be necessary. Similar to how a tax preparation company operates, Ameritech Financial prepares the documentation necessary for borrowers to take advantage of key student loan repayment plans.
"We can help borrowers understand IDRs and whether they might be a good option for them. And if they agree, we help them compile a complete application," said Knickerbocker. "We hope our clients whose IDR applications have been accepted feel better equipped to afford their payments and stay current on their loans. And each year, we do the same thing, as long as they decide to remain in the program, to try to make sure that they experience continued success in their repayment."
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.
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