Press Release (ePRNews.com) - ROHNERT PARK, Calif. - Nov 07, 2018 - It’s said that a college degree can increase a person’s net worth; however, the loans brought on by student loans can decrease a student’s net worth by 75 percent for borrowers over the age of 35, according to a recent report by MagnifyMoney. Student loans can restrict a student’s opportunities after leaving college by discouraging risks and forcing borrowers into safer options. This financial reality can force borrowers into the same routines and vocations they were in before higher education with a large portion of their check paying for their education. Ameritech Financial, a document preparation company, would like to help student loan borrowers find a brighter future by applying for a repayment plan that may help them regain their net worth over time.
“Most people know that student loans are a burden, but many people do not realize that they are life-changing,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “Luckily, most student loan borrowers have access to several repayment plans that might help them reclaim their net worth and their control over their finances in the long-term.”
Many student loan borrowers may have access to income-driven repayment plans (IDR) and not realize it. IDRs allow a borrower to pay only 10 to 15 percent of their monthly discretionary income toward their student loans per month. This can be as low as $0. While interest may continue to accrue on an IDR over time, IDRs result in loan forgiveness after 20 to 25 years of repayment. Many borrowers may not realize that an IDR is available to them because of miscommunication by their student loan servicer, and may want to seek assistance from an ombudsman or another outside source.
Most people know that student loans are a burden, but many people do not realize that they are life-changing.
Ameritech Financial would like to assist borrowers by advocating for their student loans. They plan on helping them by looking at their student loan finances and helping them apply for the IDR that may work best for them. After a client finds the IDR that works best for them, Ameritech can assist not only in the application process, but also in completing the annual recertification for the client’s benefit, and inform them if anything goes wrong with their repayment plan. If a client is unsatisfied with an IDR they can change back to a different student loan repayment plan at any time.
By enrolling in an IDR, student loan borrowers should be able to better afford to pursue the vocation or lifestyle that they want while still affording their student loans. In 20 or 25 years a borrower’s student loans may be either forgiven or paid off in full and the debt that was lowering the borrower’s net worth will no longer be a barrier. During that time, the borrower may use any money that was saved by switching to an IDR to build their financial future. The investments made during this time may help student loan borrowers build the same net worth as their peers.
“Many borrowers feel like they are compelled into paying their student loans with a standard repayment plan, but that isn’t the only option,” said Knickerbocker. “Ameritech Financial wants to help student loan borrowers align with the repayment options that may help them afford the future that inefficient student loan repayment plans are stealing from them.”
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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