American Financial Benefits Center: Income-Driven Repayment May Allow Borrowers to Pursue More Fulfilling Careers
EMERYVILLE, Calif., March 13, 2018 (Newswire.com) - While some student loan borrowers might just be happy to a have a full-time job that covers the bills, others who are already employed might have an itch to do something more fulfilling. However, potentially restricted by higher costs of living, stagnant wages, and of course, their student loans, some borrowers may not have the opportunity to pursue work that aligns with their interests and values. Income-driven repayment plans (IDRs), however, may offer leeway to pursue more fulfilling work. American Financial Benefits Center (AFBC), a document preparation company which assists federal student loan borrowers in applying for and recertifying IDRs, encourages borrowers in IDRs to think about a more fulfilling career.
“Finding a job that matches up with your values may not always be the highest-paying career option,” said Sara Molina, Manager at AFBC. “However, work that is meaningful is often very necessary, too—jobs like social workers, educators, folks that work with the elderly.”
Income-driven repayment plans, as clients of AFBC likely are familiar with, often reduce the monthly payments of borrowers who enroll in the plans. This is because payments are based on income relative to the borrower’s loan balance; family size is also taken into account. AFBC clients who are currently in IDRs—having done so with the application and recertification assistance from AFBC—may have more wiggle room in shaping their career because of the IDR.
With a low payment—as low as zero dollars a month, even, for some—borrowers in IDRs may have the opportunity to seek out more meaningful work.
Meaningful work can be human services centered—healthcare, education, eldercare—but it can also mean other kinds of pursuits of passion like the arts, sports, science, or technology innovation. While we may hear about the highest-paid practitioners of those professions—like famous actors, athletes, or start-up founders—not all participants are raking in high salaries like the household names.
Therefore, student loan borrowers who may want to pursue their dream career might recognize that an IDR is a tool to mitigate the burden of student loan debt. This frees other time and resources to pursue that meaningful career.
“With a low payment—as low as zero dollars a month, even, for some—borrowers in IDRs may have the opportunity to seek out more meaningful work,” said Molina. “Those kinds of jobs are often the kind that makes the world a better place, too, not just for the life of the person performing it.”
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.
AFBC is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
Source: American Financial Benefits Center
Categories: Financing and Student Loans