Amid Uneven Student Loan Servicer Practices, Ameritech Financial Fills Gap in Student Loan Industry
ROHNERT PARK, Calif., April 12, 2018 /PRNewswire/ -- Student loan servicers greatly affect borrowers' repayment outcomes, a new piece in the New York Times about a recent study suggests, and even outcomes vary wildly between borrowers depending on what information they get from the servicer. One of the key differences was whether struggling borrowers were directed to an income-driven repayment plan or not. Ameritech Financial, a document preparation that helps align student loan borrowers with federal repayment programs, recognizes how crucial income-driven repayment is to certain borrowers' success.
"Ideally, someone who is in income-driven repayment should never fall behind on their loan payments, and that is what this new data is showing us," said Tom Knickerbocker, executive vice president of Ameritech Financial. "But not every borrower is given the opportunity to even consider income-driven repayment, let alone enroll. Ameritech Financial bridges that gap."
The study discussed in the piece reveals what Ameritech Financial has known and used to drive its mission: that income-driven repayment benefits borrowers immensely, but borrowers aren't always given the opportunity to take advantage of this important resource. Servicer practices on informing borrowers about income-driven repayment plans can vary between servicers and, as the article relates, even between employees within one servicer.
Ameritech Financial, on the other hand, is not a loan servicer but focuses on providing support around income-driven repayment in order to help borrowers better their repayment experiences. Clients of Ameritech Financial receive guidance and concrete support in identifying, applying for and recertifying enrollment in income-driven repayment plans. These plans, offered by the Department of Education, formulate a borrower's payments based on income and family size. Borrowers in these plans are also positioned to receive loan forgiveness after a 20- to 25-year repayment period in their respective plan.
Ameritech Financial is a private, independent company that has no affiliation with the Department of Education, any government agency or any loan servicer. Ameritech Financial, thus, finds itself uniquely positioned to help borrowers apply for plans that may be financially helpful.
"Receiving help from another, independent source like Ameritech Financial may be of interest to borrowers who may not be receiving adequate help elsewhere," said Knickerbocker. "Ameritech Financial fills a need in the student loan industry in that way."
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.
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]
Related Links
SOURCE Ameritech Financial
Related Links
https://ameritechfinancial.com
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