ROHNERT PARK, Calif., Aug. 30, 2018 /PRNewswire/ -- Student loans are large enough that struggling student loan borrowers worry that they will never be able to repay them. The federal government has created repayment plans that lower student loan payments relative to a borrower's income. The problem is that not enough people know about these programs or they have trouble with the paperwork. All these plans provide loan forgiveness after 20 to 25 years as part of their plan. Ameritech Financial, a document preparation company, would like to help student loan borrowers align with and apply for these federal programs to lower their payments and get them on track for student loan forgiveness.
"Student loans can be a large source of financial stress," said Tom Knickerbocker, executive vice president of Ameritech Financial. "Many borrowers have trouble believing that they will ever repay their student loans, but the right repayment plan can make that a real possibility."
Borrowers may find better options for federal student loan repayment through income-driven repayment plans (IDRs). Such plans may lower a borrower's payments to 10 to 15 percent of their discretionary income per month and result in federal loan forgiveness after 20 to 25 years enrolled in a particular program. These plans may provide a strategy to help pay off their loans over time. IDRs may help borrowers focus their attention on getting rid of their private loans or other debt. If a student loan borrower's life situation changes, they can switch to a different plan at any time.
IDRs may also help student loan borrowers pursue their careers. With the Standard Repayment plan, borrowers may feel compelled to seek out high-income positions to pay off their loans. With an IDR, borrowers may be better able to pursue an entry-level job in the career of their choice.
"Borrowers are often unaware of the repayment options available to them," said Knickerbocker. "Ameritech Financial would like to give borrowers the hope, and confidence, that they can repay their student loans."
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:
5789 State Farm Drive #265
Rohnert Park, CA 94928
Saving Money Takes Hope
SOURCE Ameritech Financial