Ameritech Financial Encourages Student Loan Borrowers to Set Realistic Goals for Repayment

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Jun 05, 2018, 02:16 ET

ROHNERT PARK, Calif., June 5, 2018 /PRNewswire/ -- The key to reaching any goal is in setting goals that are realistic. When it comes to financial goals, such practice is essential as failing to reach goals can delay financial progress. While student loans represent one of the largest financial obstacles in adults' lives today, setting realistic goals for repayment is important. Ameritech Financial, a document preparation company that assists borrowers with federal repayment plan applications, encourages borrowers to look at all their options for repayment and how they interact with their other goals.

"College is supposed to help Americans earn more money in their lifetimes and achieve big personal goals like buying a house or building wealth," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "But student loans may hold people back from working toward those goals. With an appropriate plan, we believe that any borrower can get on track."

Setting financial goals can help individuals focus on managing their finances to work toward those goals. Debt payoff is a common goal, as is saving for retirement or for a house. Those are lofty goals, but reachable if planned well. Setting smaller goals to track progress and gain momentum can help individuals on the road to achieving those larger goals. For example, the goal to buy a house may include smaller goals to reduce debt, improve credit, and save money for a down payment and other associated costs.

Many student loan borrowers set a goal to pay off that student debt as quickly as possible. They may use a payoff strategy, which typically requires extra payments to knock out each loan one at a time.

Borrowers who struggle to make their minimum payments or who would prefer to prioritize other financial goals may opt for a different repayment plan. Federal income-driven repayment plans (IDRs), for example, calculate payments based on income and family size and can end in forgiveness after 20 to 25 years of enrollment. Although repayment is extended, payments are often reduced, freeing up some budget room for borrowers to focus on other financial goals.

"At Ameritech Financial, we help borrowers understand IDRs in the context of their financial situation and how they might affect financial goals," said Knickerbocker. "We help those who wish to apply for an IDR to complete the application paperwork, and we assist with the yearly recertification documents, as well, for as long as they want to stay in the program."

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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