ROHNERT PARK, Calif., April 19, 2018 /PRNewswire/ -- Patrick Harper, President of the Philadelphia Federal Reserve recently expressed concern about growing student debt and that debt's possible negative ramifications on the economy. Weighed down by debt, loan borrowers' "ability to participate in the economy [may be] adversely affected," Harper said. Repayment options for federal borrowers, though, can allow more room for spending and possibly buoy the economy. Ameritech Financial, a document preparation company that helps student loan borrowers apply for repayment programs, believes utilization of good loan repayment options might be a positive force for the economy.
"Repayment choices that help lower a monthly payment could allow those with student loans to spend their money on things other than their debt," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "That includes big purchases like homes or cars."
Knickerbocker is referring to income-driven repayment plans which are offered by the Department of Education to federal student loan borrowers. These plans base monthly payments on income and family size. Certain borrowers who successfully enroll in such plans could see a significant drop in their monthly obligations towards their loans. Qualified borrowers who enroll may even be eligible for a zero-dollar monthly payment. Participation in these types of plans might free up funds for borrowers to spend elsewhere, stimulating or sustaining local and national economies.
Income-driven repayment plans require an application in order to be considered for enrollment. While borrowers may choose to embark on this process solo, extra help may be needed by some. Ameritech Financial is a private company which provides services to student loan borrowers who want a change in repayment plan. Ameritech Financial offers loan situation analyses, document preparation for plan applications, and document preparation for plan recertifications, among other services.
"Ameritech Financial has assisted thousands of borrowers to successfully enroll in a new repayment plan," said Knickerbocker. "Our goal is for our services to help borrowers improve their financial situation. These kinds of positive moves could have great effects on the economy at large, too."
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:
Ameritech Financial 5789 State Farm Drive #265 Rohnert Park, CA 94928 1-800-792-8621 [email protected]