Professional Athlete Uses Initial Paycheck to Pay Off Sister's Student Loan; Ameritech Financial Addresses a More Likely Scenario for Borrowers

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Jun 22, 2018, 01:00 ET

ROHNERT PARK, Calif., June 22, 2018 /PRNewswire/ -- For a select few college athletes, student loans are not a problem. Full scholarships allow many to focus on their sport while pursuing a college education. For an extremely limited number of college athletes, a career in professional sports may even present itself. This is the case for former University of Fordham football player Chase Edmonds, who was recently selected by the Arizona Cardinals in the fourth round of the National Football League's amateur draft. This alone makes Edmonds special, but how he chose to spend his initial paycheck has made the star athlete stand out for reasons separate from the football field. Rather than buying himself a car, home, or the expensive trappings of an affluent lifestyle, the rookie paid off his sister's $80,000 student loan. Ameritech Financial, a document preparation service company that specializes in working with applications for income-driven repayment plans, understands that a methodical repayment of student loans is a much more likely scenario for those graduating college with debt.

Edmond's story exemplifies the amount of stress that a student loan can cause for an individual or family. The football star had promised, when he was ten years old, that he would one day pay off his sister's debt. This kind of long-standing desire indicates a financial burden on the family. Edmonds was able to alleviate this hardship because of his athletic prowess — an option unavailable to the vast majority of college students. For those unable to crack an NFL roster, long-term planning may be the best way to live with student loans. Tom Knickerbocker, Executive Vice President of Ameritech Financial, understands that stress levels may be significantly higher for those without a pro athlete in the family.

"What Edmonds did was an amazing example of generosity," started Knickerbocker, "but the reason it has made national news is because to most people it sounds like a fairy tale or a dream come true. For others without this opportunity, the stress of that debt may become overwhelming."

Edmonds' sister owed a significantly higher amount than the national average, but even half of her $80,000 balance could be enough to financially cripple a recent graduate. For many college athletes who do not earn an athletic scholarship to their school, the burden may be even worse, as often these athletes must stay in college an extra semester or year to earn their degree. This extra time is often paid for by extra loans. Upon graduation, many former college athletes find themselves in debt without a six-figure paycheck to help. This can cause financial damage that takes years — or even decades — to rectify. One course of action is to enroll in an income-driven repayment program that allows a person to climb out of debt with a monthly payment based on income and family size.

Ameritech Financial is a private company that assists borrowers in filling out applications for federal income-driven repayment programs. The company, says Knickerbocker, "may help those in debt to create a comfortable relationship between their debt and their income by working with them to submit a repayment program application. We try to present people with a way to let the two coincide so that they might live their life without the stress of a huge debt."

While Edmond's sister no longer has to deal with the burden of student loans, those who do may benefit from a turn towards an income-driven repayment plan that may provide relief from a confusing and expensive student loan system.

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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Paying Student Loans with Money from Pro Football Career
Credit: cpreiser000/Bigstock

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