Student Loan Debt Crisis Reaches $1.5 Trillion: How Can Ameritech Financial Help?

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Jun 15, 2018, 01:00 ET

ROHNERT PARK, Calif., June 15, 2018 /PRNewswire/ -- The history behind the student loan debt crisis is long and varied, depending on the source. Many agree student loans began in the 1800s at Harvard University and for the most part, student loans had a positive start. Currently, student loan debt totals $1.5 trillion dollars, but it doesn't need to have a bad ending. A potential solution to current borrowers' problems is to seek out a new loan plan, such as those offered by the Department of Education. Ameritech Financial is a document preparation company that assists borrowers with applications for federal income-driven repayment plans (IDRs) that are intended to help alleviate the burden of their debt.

"It's not always easy to ask for help, and sometimes borrowers feel so overwhelmed with their current financial situation that they don't know where to begin," said Tom Knickerbocker, executive vice president of Ameritech Financial. "The fears of never being able to pay back their loans, defaulting or even ruining their credit score are all real concerns for those with student loan debt. Our goal is to help our clients strategize and apply for programs that would hopefully prevent that."

Before student loan debt became a crisis, going to college was seen as a public good because many of the graduates of the 19th century who attended college would give back to their communities, for example, as teachers or ministers. At that time, colleges were largely tuition-free to support the mission of these students. Then the perception of college changed in the early 20th century because students were going more for the experience, such as to make friends or explore their options and to attain wealthy professions.

By 1927, public opinion was swayed by famous figures, such as John D. Rockefeller, who was a proponent for tuition and student loans, because he saw college as becoming a personal pursuit and no longer a public good. Experts argue that making colleges geared toward public service again could result in tuition-free institutions that would allow students to gain educational experience and, in turn, communities would benefit from their service. Until then, it could be advantageous for graduates with overwhelming student loans to educate themselves about IDRs and become more financially literate. Ameritech Financial is a private company that assists borrowers in understanding IDRs and completing the necessary application paperwork.

"At Ameritech Financial, we nurture borrowers' understanding of their loans and the different paths they have to repayment. We look at the big picture of their finances, and help them decide whether an IDR may be applicable to their situation," said Knickerbocker. "It can be worrisome not understanding their options, especially when they are living paycheck to paycheck. Choosing a new route with their repayment plan may alleviate their 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.

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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Student Loan Debt is a Weight on Borrowers
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SOURCE Ameritech Financial