Ameritech Financial Helps Federal Student Loan Borrowers Understand Confusing Repayment Options
ROHNERT PARK, Calif., Feb. 8, 2018 /PRNewswire/ -- An audit by the Department of Education's Office of Inspector General revealed that communication regarding the federal student loan repayment options has been lacking. The programs — such as income-driven plans, which are just some of the eight total repayment options — seem to be a source of confusion to many individuals, including borrowers, lawmakers, and even the Department of Education. Ameritech Financial, a document preparation company specializing in income-driven repayment plans, helps clients understand those options and guides them in the process of applying for enrollment and re-enrollment each year.
"When the government doesn't fully understand the programs it creates, it's no wonder borrowers are confused about them, as well," said Brandon Demond Frere, CEO of Ameritech Financial. "We get so many calls from people who have high student loan payments and they either don't know their options or get overwhelmed when they try to learn about them on their own."
The Consumer Financial Protection Bureau has been documenting symptoms of the lack of understanding of the programs since 2011, amounting to 44,000 consumer complaints, according to a report that the Bureau released in 2017. Those complaints portray general servicing failures and various problems surrounding the IDR and loan forgiveness processes.
For borrowers, this confusion is not news. Many borrowers have had trouble understanding the details and requirements of the different repayment and forgiveness programs. However, the government only recently learned that they did not fully understand the impact those programs would have financially.
While the Office of Inspector General has recommended Department of Education publications to be written in nontechnical language going forward, it's unclear whether that will be enough. Brandon Frere suggests that borrowers seek help from professionals in understanding federal programs that may help them with their student loans.
"Borrowers calling into Ameritech Financial speak directly with student loan application professionals," said Frere. "Our goal is that our clients fully understand the available programs and apply for the one that best fits their unique financial situation."
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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