AFBC: BEZOS Act May Make Student Loan Repayment Easier for Big Business Employees

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Mega corporations Walmart and Amazon employ a whopping two million people with their totals combined. Jeff Bezos, owner of Amazon, is the richest man in the world and Walmart is the world’s largest retailer by revenue. Yet for both of these business giants, their lowest-paid workers require food stamps to make ends meet. Some of these workers struggle with things like student loan repayment while trying to afford rent and food. American Financial Benefits Center (AFBC), a document preparation service company, has worked with many federal borrowers to help them apply for income-driven repayment plans, but should the BEZOS Act pass, those repayment plans may not be as necessary.

“There’s a lot of work that will have to be done to make the student loan repayment crisis more manageable. Better pay for employees would be a good method,” said Sara Molina, Manager at AFBC.

Introduced earlier this month by Senator Bernie Sanders and Representative Ro Khanna, the Stop Bad Employees by Zeroing Out Subsidies, or BEZOS Act, named after Amazon’s owner and founder, would require that for each dollar an employee of a large and profitable company receives in government assistance, that company would pay for it in taxes. This isn’t Senator Sanders' first critique of large corporations, but it certainly is one of his most vocal yet. Because it was only introduced recently, it will be a while before the Act is accepted, revised, or thrown away, but the move alone is likely to send shockwaves throughout the big business industry. As for what this means for employees, especially student loan borrowers, time will tell if there will be repercussions. But it may also mean better pay, which might eliminate the need for things like welfare benefits for full-time employees.

There's a lot of work that will have to be done to make the student loan repayment crisis more manageable. Better pay for employees would be a good method.

Sara Molina

Manager at AFBC

For those borrowers who are currently dealing with student loans that have become a burden, income-driven repayment plans might be able to help them gain control of their financial situation. AFBC has helped thousands of qualified borrowers apply for those federal repayment programs, potentially lowering their monthly payments, and continues to help them navigate through the yearly recertification process. “AFBC believes borrowers shouldn’t have to struggle through repayment, so we’ve done what we can with our clients to help them better achieve financial wellness,” said Molina.

About American Financial Benefits Center

American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

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Contact

To learn more about American Financial Benefits Center, please contact:

American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
1-800-488-1490
info@afbcenter.com

Source: American Financial Benefits Center


Categories: Financial News, Financing and Student Loans

Tags: BEZOS Act, employee, income-driven repayment, student debt, student loan repayment, student loans


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About American Financial Benefits Center

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American Financial Benefits Center works to align each client with the different U.S Department of Education programs available to them based on their income and occupational situation.

American Financial Benefits Center
1900 Powell Street (600)
Emeryville, CA 94608
United States