Ameritech Financial: Student Loan Borrowers With Various Debt Levels May Benefit From Income-Driven Repayment
ROHNERT PARK, Calif., Feb. 16, 2018 /PRNewswire/ -- Student loan borrowers may be wondering how they can make their debt more manageable. Borrowers of federal student loans have several different options for repayment, including income-driven repayment plans (IDR). But if a borrower is wondering whether an IDR is right for that individual, the answer is: it's all relative. That is, depending on the situation, borrowers of many different levels of debt could potentially benefit from an IDR. Ameritech Financial, a private document preparation company which assists student loan borrowers in applying for and maintaining enrollment in repayment plans, suggests that borrowers of all different debt levels consider an IDR.
"Many student loan borrowers might not even know what an income-driven repayment is or how it may help their situation," said Tom Knickerbocker, executive vice president of Ameritech Financial. "At Ameritech Financial, we help borrowers understand whether these available programs may help them manage their loans."
IDRs can benefit borrowers of different levels of debt for several reasons. Like the name suggests, the repayment plan calculates a borrower's monthly payment based on their income. But IDRs also take into account family size. So if a borrower with a large family and low income entered into an IDR, that borrower could see their payment lower. On the other hand, even borrowers with higher incomes might benefit from IDRs if they have very high loan balances.
Ameritech Financial helps borrowers understand, select and apply for these income-driven repayment plans. The company helps borrowers maintain enrollment for as long as needed, too. Ameritech Financial also reminds borrowers that IDRs set up borrowers for loan forgiveness after a period of repayment of 20 to 25 years. These repayment plans are all offered by the Department of Education. However, Ameritech Financial is a private, independent company which is not affiliated with the Department of Education or any student loan servicer.
"The truth is, what's a manageable loan for one person may be totally unmanageable for others," said Knickerbocker. "Ameritech Financial provides a personalized approach to our clients so they can feel secure they are applying for a plan that works best for them."
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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