As States Pass New Student Loan Legislation, Ameritech Financial is in Favor of Helping Vulnerable Borrowers
ROHNERT PARK, Calif., March 6, 2018 /PRNewswire/ -- Washington state sent a "student loan bill of rights" to the governor to sign into law this week, following in the footsteps of other states to expand protections for student loan borrowers. The bill outlines standards for student loan servicers operating in the state and creates a role of student loan advocate for borrowers. These types of measures might be sorely needed for the vulnerable borrower populations who are hit hardest by default. Ameritech Financial, a document preparation company which helps federal student loan borrowers apply for federal repayment plans, supports borrower protection initiatives.
"Many student loan borrowers face an uphill climb when they are in repayment, and they deserve more support all around," said Tom Knickerbocker, executive vice president of Ameritech Financial. "At Ameritech Financial, we work on behalf of student loan borrowers, so we support protecting them."
Washington's student loan bill of rights is not the first of its kind, as Illinois and Connecticut have passed similar laws. The legislation may be essential in helping protect certain student loan borrower populations that are hit hardest by loan default. One expert believes that student loans are even a civil rights issue. There are many reasons why certain populations experience default at higher rates, so while a student loan bill of rights is not a panacea for a multi-pronged problem, it still might be a step in the right direction.
Ameritech Financial is a company that fills a role in the private sector to work for and on behalf of borrowers during their repayment process. Ameritech Financial assists individuals with federal student loans, especially those who might be struggling with their debt, to apply for and maintain enrollment in repayment plans and programs which might lower their payments and put borrowers on track to forgiveness. Ameritech Financial specializes in assisting with the applications and recertifications needed for income-driven repayment plans (IDRs), which calculate a borrower's monthly payment based on income and family size.
While many borrowers may not know of these repayment plans that may help keep them current on their loans, even if they do know, the paperwork could seem overwhelming or the requirements confusing. Yearly recertification is also required to stay in an IDR and a missed deadline could revert a borrower's payment back to the standard plan payment and force capitalization of the interest. Ameritech Financial assists with all the paperwork and monitors deadlines so borrowers don't miss any important dates.
Ameritech Financial, however, never makes student loan payments for clients, and borrowers always retain control of their student loan accounts. Borrowers who are clients of Ameritech Financial are always responsible for making any payments to their servicers directly.
"At Ameritech Financial, our business works in service of borrowers and helping them make sense of their repayment options," said Knickerbocker. "We also provide concrete support to assist borrowers in the logistics of applying for repayment plans and recertification. All of this is to help borrowers stay current on their loans, stay out of default and stay on top of their finances."
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.
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
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