Student Loan Debt Will Soon Cross a New Milestone and Ameritech Financial Says This Negative Milestone Could Have Disastrous Consequences

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Oct 08, 2018, 08:00 ET

ROHNERT PARK, Calif., Oct. 8, 2018 /PRNewswire/ -- Huge milestones in history are often celebrated, like the United States celebrating its 240th birthday. But in the case of the student loan debt eventually crossing $2 trillion, many people are lamenting their future instead. Ameritech Financial, a document preparation service company, works with struggling student loan borrowers to help them apply for federal repayment programs.

"There's no doubt that there is a student loan debt crisis that millions of Americans are struggling with and, currently, it's only getting worse," said Tom Knickerbocker, executive vice president of Ameritech Financial. This has been an ongoing problem for several years now, which just about any student loan borrower could talk about from personal experience. But only recently have official statements and studies shown exact figures. Student loans were expected to be paid off within 10 years, as that is the standard repayment period, but with information released from the Department of Education, it has been found that even if only undergraduate school was paid for with student loans, only half of those borrowers had paid off all of their student loans within 20 years.

Comprehending a number like $2 trillion isn't easy for everyone. That's a government-sized project that individuals are carrying on their backs. The potential economic crash from that kind of weight is estimated to be on par with the 2008 economic depression. Many families never truly recovered from the crash 10 years ago and another one so quickly will be devastating to America.

A student loan reform is needed but it may not come soon enough for many borrowers. For borrowers currently struggling, they may be able to get help from companies like Ameritech Financial. Ameritech Financial helps student loan borrowers apply for federal income-driven repayment plans that can potentially lower their monthly payments and get them on track for student loan forgiveness after 20-25 years of being in the program. "We don't think student loan repayment should have to be a struggle, which is why we're so committed to helping our clients and being a student loan advocate," said Knickerbocker.

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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SOURCE Ameritech Financial