Washington, D.C. May Be Providing New Student Loan Options, Says Ameritech Financial
ROHNERT PARK, Calif., October 28, 2018 (Newswire.com) - Washington, D.C. has introduced a new bill, known as The Student Loan Authority Establishment Act of 2018, which could provide new student loan support for the district. If passed, this bill would allow borrowers to take advantage of loans with lower interest rates than either federal or private loans. The new D.C. loans may even use the same repayment plans as federal loans. If true, this would allow borrowers to pursue the income-driven repayment plans normally restricted to federal loans. Ameritech Financial, a document preparation company, would like to help student loan borrowers, in Washington, D.C. and across the nation, find the best student loan repayment plan that best benefits them.
“Many student loan borrowers don’t know the repayment plans that will most benefit them,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “D.C.’s new bill could give borrowers new options to solve their student loan problem.”
DC loans from the proposed legislation would only be given out to future students, but current borrowers may find relief by aligning with an income-driven repayment plan (IDR). An income-driven repayment plan can potentially lower a borrower's monthly student loan repayments to 10 to 15 percent of their monthly discretionary income. A borrower will obtain federal student loan forgiveness if they are enrolled in an IDR for 20 to 25 years.
Several borrowers may have access to IDRs and not realize it; some servicers are currently under scrutiny for misleading borrowers with misinformation and bad advice. If a borrower is able to get access to an IDR, they may be able to effectively repay their loan every month and save more overall compared to other repayment plans. While an IDR won’t make the student loan problem go away, it can form the backbone of an effective long-term repayment strategy that gives borrowers some control over their lives.
“It is great that D.C. is taking steps to address the student loan problem. We hope that other states are inspired to take steps against student loans by D.C.’s actions,” said Knickerbocker. “Borrowers have had many student loan repayment options denied to them, either by bad information or systemic problems. We hope that the D.C. student loan bill provides new options for borrowers that can help them achieve the life that they want. We hope that borrowers find the student loan repayment options that help them regain control over their finances from their student loans.”
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.
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive #265
Rohnert Park, CA 94928
Source: Ameritech Financial