Ameritech Financial Advocates for Successful Federal Student Loan Repayment to Support Personal Financial Responsibility
ROHNERT PARK, Calif., April 6, 2018 /PRNewswire/ -- Personal finances are just that: personal. In most cases, success or failure in an individual's personal finances only affects that person's own financial future. However, sometimes certain jobs may require a certain level of financial responsibility. Namely, any position in which an individual will be responsible for a client's finances, such as an accountant or lawyer, should be able to prove financial responsibility. When student loans make success in personal finances difficult, it may be challenging to pass that employment test. Ameritech Financial, a document preparation company specializing in federal repayment plan applications, reminds borrowers who are struggling with their payments that they have access to federal repayment programs that may reduce their payments and bolster financial success.
"Jobs are necessary for financial success," said Tom Knickerbocker, executive vice president of Ameritech Financial. "When personal finances get in the way of getting a job, it can be a vicious cycle of not being able to improve your finances in order to get a job that will allow you to improve your finances by providing necessary income."
Financial success relies on staying current on all expenses and debt obligations. That includes student loan payments as well as housing costs, expenses, credit card debt and car loans. Staying current on everything may be challenging for some individuals, but there are ways to improve success rates.
First, individuals may try to boost their income. They can do so by either asking a current employer for a raise (though they should make sure they have the skills or accomplishments to support the request) or get a side gig. Another strategy is to reduce expenses. Things like phone bills and internet may be negotiated lower. Car loans or mortgages may be refinanced, as can private student loans.
Federal student loan payments may also be reduced through federal income-driven repayment plans (IDRs). Such plans base payments on income and family size and can reduce payments to as low as zero dollars in certain circumstances. Furthermore, after remaining in the program for the entire 20- to 25-year term, any remaining balance will be forgiven. IDRs can help borrowers struggling with finances to stay current on student loans while potentially also allowing them to better manage their other debt using funds freed up from a student loan repayment reduction.
"At Ameritech Financial, we help borrowers understand IDRs and how they may fit into their personal financial situation," said Knickerbocker. "When it comes to personal finances, we hope to help our clients feel success not only with their student loans but with their other financial goals as well."
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.
Ameritech Financial 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).
Ameritech Financial prides itself on its exceptional customer service.
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
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