ROHNERT PARK, Calif., April 30, 2018 /PRNewswire/ -- Lawmakers seeking to eliminate Public Service Loan Forgiveness within the PROSPER bill may face another hurdle as a memo from the Pentagon opposing ending the program surfaced recently. PSLF is cited as an important recruitment and retention tool for niche occupations within the Department of Defense. Changes to PSLF is one of many potential adjustments to student loan repayment system currently in place through the Department of Education. Ameritech Financial, a document preparation company that helps student loan borrowers with applications for repayment plans, encourages preserving repayment and forgiveness options for borrowers.
"The Department of Defense is definitely looking at it at least in part from a human resources standpoint, but the opportunities that federal loan programs offer are often necessary for borrowers," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "They are sometimes what stands between some student loan borrowers and financial disaster."
Federal student loan borrowers become eligible for Public Service Loan Forgiveness by completing what some may see as a complicated matrix of requirements, including working for ten years for a specific kind of employer and making the correct kinds of payments in the correct kind of repayment plan, among other factors. PSLF is one of several repayment and forgiveness options that may be eliminated in the new bill. While current borrowers would likely be grandfathered in should such an elimination take place, new borrowers would undoubtedly feel the effects without these offerings.
Ameritech Financial helps current student loan borrowers who have federal loans apply for income-driven repayment plans. These repayment plans are often crucial to borrowers because they base payment on income and family size and thus tend to become a more affordable monthly payment. Participating in income-driven repayment, among several other factors, may also position borrowers for multiple types of loan forgiveness after a certain number of years of repayment.
"Ameritech Financial helps borrowers maximize the resources that are available to them through these federal programs," said Knickerbocker. "We are a private company that focuses on borrowers' success and guiding people with student loans who may be struggling."
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.
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