Student Loans Are Too Complicated for Borrowers Exclaims Ameritech Financial

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The difficulty in understanding student loans contributes to the inability for many to pay them back. A number of borrowers are unable to get into the right student loan repayment program because they do not understand all their options — or even know where to look. If borrowers were aware of every option available to them for their repayment, then many would save a lot of money. Ameritech Financial, a document preparation company, believes it can help borrowers navigate through the convoluted maze of student loan repayment.

“If borrowers knew every option available for student loan repayment, many would be able to live better lives,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “Student loan repayment knowledge is extremely helpful to borrowers, but many may not know where to look or what questions to ask their servicer in order to get their loans on track.”

In the effort to help borrowers free themselves of their student loan repayments, various options have been developed that they might not know about. Between the traditional repayment plans, such as Standard, Extended and Graduated, and the income-driven repayment plans, such as IBR, PAYE, REPAYE and ICR, many borrowers don’t know where to start looking. Programs like Public Service Loan Forgiveness (PSLF) can take additional time to figure out due to the complicated and nuanced requirements. Many borrowers may feel that there are too many acronyms and not enough time in the day to do all of the necessary research.

If borrowers knew every option available for student loan repayment, many would be able to live better lives. Student loan repayment knowledge is extremely helpful to borrowers, but many may not know where to look or what questions to ask their servicer in order to get their loans on track.

Tom Knickerbocker

Executive Vice President of Ameritech Financial

Something many of these plans have in common is low payments and future loan forgiveness. Income-driven repayment plans (IDRs) are often the most useful plans for student loan borrowers. Many of their features are easy enough to interpret, but how to do everything right can be difficult for borrowers to figure out. The rewards are often worth it, as being approved for an IDR and completing paperwork can lead to student loan repayments of only 10 to 20 percent of a borrower’s discretionary income per month while leading to federal loan forgiveness after 20 to 25 years of enrollment. By finding the best repayment plan, borrowers may be able to find the best future available for them.

“Most borrowers who are in trouble may be able to find a repayment plan that can help,” said Knickerbocker. “Ameritech Financial hopes to help student loan borrowers discover the best possible path to student loan freedom.”

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

Contact

To learn more about Ameritech Financial, please contact:

Ameritech Financial
5789 State Farm Drive #265
Rohnert Park, CA 94928
1-800-792-8621
media@ameritechfinancial.com

Source: Ameritech Financial


Categories: Financial News, Financing and Student Loans

Tags: IDR, income-driven repayment, PSLF, student debt, student loan repayment, student loans


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About Ameritech Financial

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Ameritech Financial is a document preparation company that helps borrowers enroll in the federal repayment program that matches their individual financial needs, potentially lowers payments and gets them on track for student loan forgiveness.