Admirable Aspects of Student Loan Repayment Around the World Are Found in Income-Driven Repayment, Says Ameritech Financial

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May 14, 2018, 08:00 ET

ROHNERT PARK, Calif., May 14, 2018 /PRNewswire/ -- In a battle of the student loan programs, the New York Times pitted the American student loan system against other countries' student loan programs to measure borrower success and experience. The United States, suffice it to say, did not win and the Times subsequently posted lamentations from American borrowers and sympathies from abroad about our faulty student loan system. The most admirable aspects of student loan systems overseas, though, were qualities that could be found in American income-driven repayment plans. Ameritech Financial, a document preparation company that helps borrowers with applications and recertifications for income-driven plans, encourages all to consider the merits of such programs.

"As a country, we undoubtedly have a flawed way of going about student loans here in the United States, and the evidence is that so many borrowers are in distress about their debt," said Tom Knickerbocker, executive vice president of Ameritech Financial. "But that doesn't mean it's all doom and gloom for borrowers — there are ways to improve their loan situation, especially for federal borrowers."

The Times articles noted that the judges determined "that the best student loan repayment system is one that is simple, that is based on students' incomes, that spreads loan payments over longer periods and that's able to collect payments automatically through the tax system." Swedes, for example, are in repayment for an average of 22 years.

The article did mention the American option of income-driven repayment for federal student loans. And some of the criteria for optimal repayment can, in fact, be found in income-driven repayment. Income-driven plans base monthly payments on income and family size and extend repayment to a period of 20 to 25 years. However, the plans are not the default for borrowers; borrowers must apply to them and many don't know they exist. The Times piece notes that income-driven repayment is too confusing for some borrowers to use for their benefit or relief.

Ameritech Financial is a private, independent company which helps federal student loan borrowers select and apply for income-driven plans. The company provides each client with a financial analysis and document preparation services related to income-driven plan applications and recertifications. Ameritech Financial monitors each client's applications and, if they are successfully enrolled, keeps track of their plans so no deadlines are missed. Clients of Ameritech Financial retain control of their loan accounts and are responsible for making any payments to their servicer or servicers.

"The United States may not have the best system in the world, but borrowers owe it to themselves to make use of the programs we do have that support them," said Knickerbocker. "Ameritech Financial wishes to be a part of that support, assisting borrowers in a professional capacity to apply for and stay in a better repayment setup."

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
[email protected]

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SOURCE Ameritech Financial