Press Release (ePRNews.com) - Rohnert Park, CA - Mar 19, 2018 - Student loans can be bad, but they are just one piece in the debt puzzle so many Americans are trying to piece together. Student loan borrowers may also have credit card debt and maybe even a car loan to contend with. That doesn’t include living expenses like housing, utilities, and food. And everyone has a cell phone these days. Clearly, when student loan borrowers are struggling with debt, it doesn’t just come down to the student loans: the whole financial situation may need some fine tuning. Ameritech Financial, a document preparation company in the student loan industry, suggests looking at the whole picture.
“Student loan debt may feel heavier than other financial expenses because of the emotions linked to it,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “In the end, student loans are simply another bill to be paid each month and should be incorporated into a financial plan.”
Any financial plan should look at an entire financial situation, not just one part. Many Americans find detailed budgets useful to make sure no expense gets overlooked. Some financial experts recommend allocating every penny — having no money leftover makes overspending less likely. Other advice may include outlining clear goals. Even putting those goals in a prominent place may help to keep them in mind.
In the end, student loans are simply another bill to be paid each month and should be incorporated into a financial plan.
Any focus on debt should include a debt payoff plan. Such plans usually include paying minimum payments on all debt except one, in which all available extra money goes toward paying down that debt. Which debt is the target of such focus depends on which specific strategy is used: snowball or avalanche. Both work, but the quick victories from the snowball method are thought to keep consumers going through an often lengthy process.
Student loan borrowers who feel that their student loan payments require too great a portion of their income may consider federal income-driven repayment plans. Such plans base payment amounts on income and family size and have the potential to reduce payments to as low as zero dollars. Any extra funds from such a reduction may go toward financial goals, whether those goals focus on debt payoff or saving.
“At Ameritech Financial, we know that student loans are just one of many financial considerations,” said Knickerbocker. “We also know that IDRs can help borrowers in their debt payoff strategies. We assist borrowers in understanding IDR options and how they can affect the whole financial picture. For those who decide to apply for IDRs, we can help with the paperwork, both the initial application and yearly recertification. We plan to remain with clients for however long their student debt payoff plan takes.”
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.
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive #265
Rohnert Park, CA 94928