Press Release (ePRNews.com) - ROHNERT PARK, Calif. - Jun 21, 2018 - As trends change, so do rules, including those financial rules pushed along as sacred fiscal doctrine from past generations. A recent Huffington Post article suggests that there are at least eight financial guidelines to disregard including such revered edicts as shunning credit cards, owning instead of renting a home and getting a prestigious college degree. Ameritech Financial, a document preparation service company, is helping students break the constraints of having to live a life weighed down by the burden of student loan debt. When Ameritech Financial assists student loan borrowers in applying for federal loan programs such as income-driven repayment plans (IDRs), such borrowers accepted into the programs might be able to lower their monthly payments, and any remaining balance may even be forgiven after 20 or 25 years.
“As conditions evolve in a constantly shifting environment,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial, “it is crucial to examine assumptions and beliefs. What worked a generation ago may or may not be helpful now. One assumption that we can push back against is that someone with student loan debt is isolated and without resources. We can assist borrowers applying for IDRs available through the Department of Education that will possibly ease the strain and limitations of student debt.”
One rule of thumb, according to the article, that may be ignored is saving 20 percent for a home down payment; saving so much cash is slow and home prices rise so fast that the target may just keep moving. Therefore, renting may be the better option and has the included benefit of allowing more freedom. If a job in a shifting work economy is available in another location, selling a home makes a move much more complicated.
One assumption that we can push back against is that someone with student loan debt is isolated and without resources.
Another rule contradicted is that credit cards, appalling to generations past, should be used only for emergencies. However, today they can be effective tools that track spending, increase security, and can gain cash back rewards. Still, the article warns, pay off the balance each month so that the tool does not become a weapon that is used against the user in the form of fees and interest.
One more rule to be questioned is the thought that going to the best college possible, no matter the cost, is a sure-fire way to succeed in life. With the number of college graduates in the job market and the amount of debt that is piled up in pursuit of a degree, a person may need to consider their return on investment when it comes to college. Instead of expending six figures for a private education in art history, for example, students may perhaps consider vocational school over a traditional four-year degree in a field that has limited job prospects.
However, such advice may only apply to current or prospective students. Those who have finished their college course who have debt that they struggle to pay back may find some relief in federal income-driven repayment plans, which base payments on income and family size. Such payments can be as low as zero dollars in certain situations.
“In a shifting economic landscape, it is important to fluidly move toward efficient, helpful solutions,” said Knickerbocker. “For those who are trapped in student debt, Ameritech Financial can assist you in applying for an IDR that might just give you the financial freedom you are searching for.”
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.
Ameritech Financial Newsroom
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive #265
Rohnert Park, CA 94928
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