American Financial Benefits Center Reminds Borrowers That a Loss of Income Can Be Reflected in Student Loan Payments

EMERYVILLE, Calif., April 4, 2018 /PRNewswire/ -- Many Americans don't have enough saved to cover a $1,000 emergency expense. A sudden loss of income or employment may have a similar effect as an emergency expense and be equally distressing. For student loan borrowers, an income drop may mean their current payment isn't feasible. American Financial Benefits Center (AFBC), a document preparation company that helps student loan borrowers apply for and recertify enrollment in federal repayment programs, reminds federal borrowers that a lower income may mean a lower payment for qualified individuals.

"We've helped our clients successfully apply for repayment plans that base payments on income and family size," said Sara Molina, Manager at AFBC. "These federal plans can be extremely helpful to people who have lost their job or taken a pay cut."

AFBC is a private company which has helped federal student loan borrowers apply for income-driven repayment plans (IDRs). AFBC continues to assist clients by helping with the recertification process, a necessary step to remain in IDRs year after year. Federal student loan borrowers who experience a loss in income who are not yet in an IDR but experience a drop in income can apply for a plan if necessary.

AFBC helps its clients recertify income in order to stay in their current IDR. During the recertification process, a drop in income can be reflected in the paperwork. Qualified borrowers may receive a lower monthly loan payment given their new financial circumstances. If a different kind of income-driven plan could be more beneficial, AFBC clients are welcome to request assistance with an application for the new plan.

"Experiencing a drop in income can be a very stressful experience," said Molina. "But AFBC clients and all federal student loan borrowers should know that they might have options to make their monthly loan payment better suited to their new situation."

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).

Contact

To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
1-800-488-1490
[email protected]

Related Links

AFBC home page

SOURCE American Financial Benefits Center

Related Links

http://afbcenter.com