Press Release (ePRNews.com) - ROHNERT PARK, Calif. - Jun 04, 2018 - Big financial goals can be difficult in even positive financial situations. Buying a house, for example, requires a down payment, closing costs and a good debt-to-income ratio and credit report. That can all be difficult to gather if high student loan payments are demanding large portions of discretionary income, even with a good job. Ameritech Financial, a document preparation company that assists borrowers with federal income-driven repayment plan applications, reminds borrowers that they might not have to choose between student loans and buying a home.
“A college education is supposed to increase earnings and make things like buying a house easier, but student loans often cancel out those benefits,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “Borrowers shouldn’t have to feel like they must choose between paying down their debt and buying a home or that their loans are holding them back.”
Multiple studies have shown that student loan borrowers are delaying buying a home because of their student loan debt. Furthermore, the more loans that a borrower has, the less likely that he or she will buy a home. When high monthly payments can take away from saving capabilities, it’s not surprising that borrowers feel they cannot achieve such a goal.
A college education is supposed to increase earnings and make things like buying a house easier, but student loans often cancel out those benefits.
Executive Vice President of Ameritech Financial
Student loan borrowers may be able to boost their chances of buying by pursuing one of the available federal income-driven repayment plans (IDRs). Such plans feature payments based on income and family size, which can reduce payments for many borrowers and allow them to redirect funds toward saving for a down payment or paying down other debt to improve their debt-to-income ratio.
“At Ameritech Financial, we help borrowers understand IDRs in the context of their own financial situation and goals,” said Knickerbocker. “We hope that with our help preparing the application paperwork, our clients can get enrolled in a program that may help them in the long run and that they feel able to pursue their other financial goals like buying a home.”
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.
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