Ameritech Financial Reminds Borrowers of Link Between Student Loans and Mental Health
ROHNERT PARK, Calif., Feb. 28, 2018 /PRNewswire/ -- Student loan borrowers are no stranger to financial stress. High balances and payments and potential difficulties finding a job that enables successful repayment are just a couple of the factors leading to financial stress from student loans. That stress can manifest itself as loss of sleep, depression, and even the tendency to turn down travel or self-care opportunities. Ameritech Financial, a document preparation company in the student loan industry, can help borrowers understand and apply for repayment options that may reduce that stress and improve their lives overall.
According to a survey, 83 percent of respondents have felt that they couldn't relax due to their student loans. Additionally, 50 percent of respondents shared that their student loans have caused them to feel depressed. Another study showed that people with debt are three times more likely to have a mental illness than those without debt.
"It's troubling that student loans and mental health are so closely connected," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "However, there might be a silver lining: if borrowers can manage their loans, they can potentially reduce their financial stress and improve their mental health. But if they need help, they should know there's help out there."
Borrowers struggling with federal student loans have access to various repayment plans through the Department of Education. In addition to the Standard, Extended, and Graduated plans that base payment amounts on the principal and payoff term, the Department offers some plans based on the borrower's income.
Income-driven repayment plans (IDRs) calculate payment amounts on income and family size and may end in forgiveness after 20 to 25 years. The potential reduction in amount due on those plans may afford borrowers room in their finances to pursue other financial goals or simply dedicate some resources to their mental health.
Note: Borrowers concerned about serious mental health issues should reach out to a mental health professional.
"While we can't help directly with mental health, at Ameritech Financial we can help borrowers understand their repayment options," said Knickerbocker. "Our specialty is in helping borrowers apply for and stay enrolled in IDRs, and if that helps reduce financial stress, then that's even better."
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
Related Links
https://ameritechfinancial.com
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