ROHNERT PARK, Calif., April 30, 2018 /PRNewswire/ -- Student debt is a growing problem that America, as a nation, cannot seem to control. Individual borrowers may share that feeling of being out of control, especially if they cannot make their payments. Ameritech Financial, a document preparation company that helps federal student loan borrowers with federal repayment plan applications, encourages borrowers to focus on what they can control and to make a plan to gain a better handle over their student loans.
"Student loans are the problem that seems to never go away," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "While national numbers can be distressing, borrowers should focus on their own situation and try to take control of their own financial well-being."
Financial stress is ubiquitous for student loan borrowers, and many borrowers experience physical symptoms. Financial insecurity and feelings of hopelessness may drive student loan borrowers to feel panic about their loans. They may try to alleviate such feelings through distractions. However, ignoring the debt, especially if borrowers feel out of control, is not a good solution.
Ameritech Financial recommends that borrowers face their student debt and take control. Knowing loan facts, such as balances, interest rates, and whether the debt is federal or private, can empower borrowers to make a plan. The company also suggests borrowers evaluate the rest of their financial situation and come up with a holistic plan.
Federal student loan borrowers who struggle with their payments may be eligible for federal income-driven repayment plans that base payments on income and family size. Such plans may allow borrowers to stay current on their loan payments as they can be reduced to as low as zero dollars in certain situations. Any reduction in payments can free funds that can go toward other financial weak points or goals.
"Enrolling in an affordable repayment plan puts control back in borrowers' hands," said Knickerbocker. "At Ameritech Financial, we help borrowers understand IDRs in the context of their situation and we help them with the application paperwork if they decide to pursue such plans. We hope our clients feel that they can better control their debt in their IDR."
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: