Ameritech Financial: Borrowers Are Responsible for Paying Their Student Loan Debt
ROHNERT PARK, Calif., March 20, 2018 /PRNewswire/ -- Student loans are a contentious issue, and people on all political sides are chiming in. Debates fill the news about why student loan debt is so high and about possible solutions. Some things most people agree on are that higher education is essential for low-income individuals to have any chance at social mobility and that borrowers are responsible for the loans they take out. While many have been defrauded — another contentious topic — most recognize that they took out the debt and are responsible for paying it back. Ameritech Financial supports federal student loan borrowers through the repayment process by helping them prepare documents for federal repayment plan applications.
"The student loan borrowers we talk to on the phone often cannot afford their loans, but they want to be able to," said Tom Knickerbocker, executive vice president of Ameritech Financial. "We hear about the relief experienced by our clients who had not been able to stay current on their loans, but with our help and the federal income-driven repayment options, they were able to turn that around."
While some borrowers feel that they should not have to repay their debt for many reasons, including being defrauded by a school or not completing a degree program, all borrowers signed the promissory note and are therefore responsible for paying back the debt. It's important to understand that whoever signed the promissory note is responsible; therefore, parents who signed for loans for their child's education are responsible for paying down those loans.
Whether or not borrowers feel responsible for their debt or can afford it, many might not make payments because "it freaking sucks." However, not paying down that debt can have serious consequences. Delinquency can result in credit score cuts, and default can get even worse with wage garnishment. Borrowers with federal student loans whose payments are too high to handle may consider federal repayment plans.
Countless borrowers have found income-driven repayment plans (IDRs) to be valuable options. Such plans calculate payments using income and family size information, which can reduce payments to as low as zero dollars.
"With IDRs, paying down student debt may be much easier," said Knickerbocker. "At Ameritech Financial, we help borrowers understand IDRs and apply for them. We are very glad to be able to help our clients in their repayment process and hope that they feel successful when they make their student loan payments to their servicer every month."
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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https://ameritechfinancial.com
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