Since Women Face Higher Student Debt Burdens, Repayment Options Are Valuable, Says AFBC
EMERYVILLE, Calif., Feb. 12, 2018 /PRNewswire/ -- Research shows women are disproportionately affected by student debt. Not only do women take out larger loan balances than men, but they also take longer to pay those higher balances back. Part of the reason for that slower repayment is the gender wage gap. While income-driven repayment plans do not speed up repayment, they may help women with depressed wages stay out of default on their federal student loans. American Financial Benefits Center (AFBC), a document preparation company that helps borrowers apply for and maintain enrollment in income-driven repayment plans, aims to give borrowers the tools they need to overcome financial disadvantage.
"Student loans are a financial issue for all kinds of people, but the data shows that women are taking on more debt than men," said Sara Molina, Manager at AFBC. "AFBC is committed to helping borrowers who are struggling with their student loan balances."
AFBC helps federal student loan borrowers identify and apply for repayment plans that potentially reduce their monthly payments. This reduction is because the payments are determined based on the borrower's income and family size. Borrowers who have lower wages and bigger families often see their payments reduced. AFBC also helps maintain the borrower's enrollment by assisting in yearly recertification.
These kinds of plans also end in forgiveness after 20 or 25 years. Another forgiveness program is Public Service Loan Forgiveness (PSLF), which women borrowers could potentially take advantage of in great numbers. For example, public sector jobs are disproportionately held by women. AFBC also assists clients in getting on track for PSLF.
"At AFBC, we strive to make sure our clients use the tools at their disposal to make their student loans more manageable," said Molina. "That's one of our core goals at AFBC."
About American Financial Benefits Center
American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. They adhere to strict customer service guidelines and strive for the highest levels of honesty and integrity.
AFBC 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).
Contact
To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
1-800-488-1490
[email protected]
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SOURCE American Financial Benefits Center
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