AFBC: Student Loans Are a Global Problem, One Which Could Have Big Economic Consequences

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The student loan crisis in America has hit $1.5 trillion this year, but America isn’t alone in feeling the heat from this kind of problem. New Zealand, Malaysia, Great Britain and many more countries that offer student loans are experiencing troubles with seeing loan repayment. American Financial Benefits Center (AFBC), a document preparation service company that has helped many student loan borrowers apply for federal repayment programs, says that there are likely to be economic repercussions from so many student loan borrowers struggling in their repayment process.

With students fleeing the country to avoid debt collectors, filling out applications for loan repayment postponement to focus on other finances and struggling under emotional stress that sometimes comes with loan repayment, it’s no wonder the student loan issue keeps making headlines across the globe. Some people say that struggling with student loans is a borrower's fault. Others say it lays with those who service the loans. A problem for the countries to worry about, regardless of fault, is the economic stagnation that student loan repayment can cause due to a good portion of borrowers’ money going into repayment instead of the circulating economy. The more demand for a college education, the higher the prices go, the more borrowers there are, which then cycles into a bigger economic problem overall. “Student loans are a problem that needs some sort of intervention from one group or another, but for now, many borrowers are struggling to face their own financial problems let alone be in a position to help others,” said Sara Molina, manager at AFBC.

AFBC has been there for thousands of qualified student loan borrowers to help them apply for income-driven repayment programs that have potentially lowered their monthly payment and gotten them on track for student loan forgiveness after 20-25 years of enrollment. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so dedicated to helping our clients in the ways that we can and remaining a student loan advocate,” said Molina.

Student loans are a problem that needs some sort of intervention from one group or another, but for now, many borrowers are struggling to face their own financial problems let alone be in a position to help others.

Sara Molina

Manager at AFBC

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: extreme measures, global, income-driven repayment, leaving country, 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