Ameritech Financial: As Collective Student Loan Debt Passes $1.5 Trillion Mark, Federal Repayment Programs Take the Spotlight

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May 10, 2018, 08:00 ET

ROHNERT PARK, Calif., May 10, 2018 /PRNewswire/ -- Another day, another dollar in student loan debt. The collective student loan debt in the United States has surpassed 1.5 trillion dollars and is climbing. While some might be thunderstruck by this huge number, individual borrowers often do have options for making repaying their loans more manageable. Most of student loan debt held today is made up of federal student loans, which are loans either issued directly from or guaranteed by the federal government. To address the national student debt issue, federal programs are in place and should remain in place. Ameritech Financial, a document preparation company which helps student loan borrowers apply for federal repayment programs, reminds borrowers that national repayment programs exist to address this national student loan issue.

"Borrowers in all 50 states — and beyond — have federal student loans which are contributing heavily to this ridiculously high student loan number. But the government also has programs in place to help borrowers," said Tom Knickerbocker, executive vice president of Ameritech Financial. "The question is whether borrowers are accessing these programs or even know that they're there."

For borrowers who are in default or nearing default on their federal student loans, it's likely they are not utilizing repayment programs meant to benefit them. Programs like income-driven repayment plans, which base monthly payments on income and family size, reduce payments for qualified borrowers to what is often a more affordable amount. Certain borrowers may even have a payment as low as zero in these plans. While the plans do not speed up loan repayment, they do help keep individual borrowers in good standing with their loans and out of the financial minefield of default.

This does present a bit of a conundrum for taxpayers in general, who may be concerned about the toll of such a huge collective student loan balance on the national budget. However, federal student loan borrowers are taxpayers, too, and given that there are tens of millions of borrowers, repayment programs that help them maintain financial stability are important.

Programs like income-driven repayment are, however, not necessarily known to borrowers; additionally, for some, understanding the programs proves too daunting for borrowers to attempt to navigate alone. Ameritech Financial is a private, independent company that helps federal student loan borrowers apply for certain repayment and forgiveness programs. The company provides each client with a financial analysis and then assists with document preparation in selecting an appropriate repayment plan, applying and recertifying enrollment.

"Scaled down to the individual borrower, this massive student loan debt becomes a manageable number if handled well," said Knickerbocker. "Ameritech Financial provides services to guide and support borrowers who are interested in applying to access repayment programs that may better help them stay current and even get them on track to forgiveness."

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