Ameritech Financial: Managing Student Loan Debt is Critical for Financial Well-Being

ROHNERT PARK, Calif., April 11, 2018 (Newswire.com) - ​​The so-called student loan crisis presents itself in many different ways. Americans hold much higher amounts of student debt now than they did a decade ago. However, borrowers who have low balances and no degree struggle with their debt more than those with higher balances and advanced degrees, which underscores the importance of education. Borrowers are also delaying personal financial and life decisions due to student debt. Ameritech Financial, a document preparation company that assists borrowers with federal repayment plan applications, reminds borrowers that managing their student debt is important.

“Student loan debt can be very stressful and can affect every part of a borrower’s life,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “Borrowers shouldn’t feel like their debt is out of their control or that they have to delay their life until they pay off their debt.”

Borrowers shouldn't feel like their debt is out of their control or that they have to delay their life until they pay off their debt.

Tom Knickerbocker, Executive Vice President of Ameritech Financial

While some news articles analyze whether student loans are the next financial bubble that will signal the next financial crisis, others argue that student loans fall short of providing a catalyst for social mobility. Federal student loan default rates are above 10 percent and borrowers’ decisions to delay large purchases like houses or cars may slow down economic growth that depends on that kind of spending.

However, it’s easiest to see the more personal effects of student loan debt on families. Some borrowers may need to choose between paying their student loans and buying food. Others may be neglecting to save for retirement entirely so that they can stay current on their student debt and other necessary expenses.

Ameritech Financial suggests that borrowers focus on their own financial situation rather than the landscape painted by the media portraying a national crisis. The company helps federal student loan borrowers understand and apply for federal repayment options, specifically income-driven repayment plans (IDRs) that can reduce payments and end in forgiveness after 20 to 25 years in the program. Such plans calculate payments based on income and family size. Any reduction in payment can relieve financial stress and allow borrowers to save for a house, retirement or other goals.

“We don’t know what the future of student debt looks like,” said Knickerbocker. “At Ameritech Financial, we focus on helping individuals with their federal student debt by assisting them with IDR application and recertification paperwork. If they can manage their debt successfully, that’s one less person struggling with student debt. We believe IDRs have the potential to change borrowers’ financial lives for the better.”

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.

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]

Source: Ameritech Financial