Tips to Save Money on Food and Reduce Student Loans, From Ameritech Financial

Hearty Bowl of Ramen

What a person eats is often governed more by budget than by taste. When student loan borrowers realize how much they need to save, ramen starts to look less like a food and more like a lifestyle. Student loans can keep a borrower eating ramen in order to afford a shoestring budget to repay their student loans. As a borrower’s student loan repayments continue, they may feel guilt whenever they eat anything outside their cost-saving routine no matter how problematic that routine has become. Ameritech Financial, a document preparation company, may be able to help borrowers align with a student loan repayment plan that can help them afford the food that is right for their budget and their health.

“If borrowers choose to eat cheap food to save money, that is one thing, but feeling forced to eat cheap food to afford student loans is another,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “The cost of student loans is taking food off a borrower’s plate. We want borrowers to know that there is a plan that might help them afford the food they want while still meeting their student loan obligations.”

Cutting a food to focus on student loans can lead to bad dieting habits and a more uncomfortable life. A borrower may instead want to look into alternative programs for federal student aid, such as income-driven repayment plans (IDRs). Borrowers interested in getting aligned with an IDR may want to look at Ameritech Financial for assistance. Ameritech can help such individuals apply for IDRs to help potentially lower their monthly loan repayments, which could create a better ability to afford more healthy food. Using an IDR, a borrower’s monthly payments may be reduced to 10 to 15 percent of their discretionary income and they might obtain student loan forgiveness after 20 to 25 years of enrollment. By using an IDR, a borrower may be more able to afford healthier and overall better eating habits.

If borrowers choose to eat cheap food to save money, that is one thing, but feeling forced to eat cheap food to afford student loans is another.

Tom Knickerbocker

Executive Vice President of Ameritech Financial

Additionally, borrowers may be able to reduce their food expenses by comparing prices for foods in their standard routine, buying in bulk and saving as much as they can in their freezer. When shopping for prices, factor in other cost-saving measures like coupons at Krazy Coupon Lady, Target’s Cartwheel or customer loyalty programs in a wide variety of stores. Looking into places where restaurants order their food in bulk like Smart Food Service or Costco can save in the long-run. If a borrower orders food online, they should remember services like Ebates can get money back on each purchase and factor that into the overall price of their meal. If a borrower needs to change their eating habits in order to save money, they should consider looking at the Calorie Per Dollar List at Efficiency is Everything and make a clear plan on how much to eat from there. This should be able to develop alternative affordable eating plans.

“A borrower shouldn’t be forced to choose between having something to eat and repaying their student loans,” said Knickerbocker. “We at Ameritech Financial help to analyze a borrower’s finances, fill out their IDR paperwork and get them into the loan repayment program that allows them to live, and eat, the way they want to.”

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: Financing and Student Loans, Financial News

Tags: federal student loans, food costs, income-driven repayment


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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.