Targeted Assistance With Paperwork Benefits Students and Borrowers; Ameritech Financial Provides Such Assistance

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May 04, 2018, 01:00 ET

ROHNERT PARK, Calif., May 4, 2018 /PRNewswire/ -- From applying for federal student aid through repayment, the student loan process can be complicated. Students and borrowers may get overwhelmed and miss out on beneficial programs. A recent report showed that low-income community college students in California are missing out on millions of dollars' worth of Pell grants. Also, support in filling out the FAFSA combined with guidance on available grant aid led to increased college enrollment in several states. Ameritech Financial is a private document preparation company that helps struggling federal student loan borrowers understand and apply for federal income-driven repayment plans. Such plans are intended to ease repayment stress.

"Whether borrowers know their options or not, they might need some help through the application process to get into a repayment plan that works for them better than the Standard Repayment," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "We help with each step of the IDR process, including the required yearly recertification."

Several years ago, researchers did an experiment to see if low-income students were more likely to go to college if they had help filling out the FAFSA. The results showed that with assistance, students were more likely to complete two years of college following the experiment. On the other hand, participants who received information about available financial aid but no assistance with the FAFSA did not experience those outcomes.

Students who might benefit from federal programs might not know about them or might not realize how they would be beneficial. That goes for loan repayment, as well. Federal student loans have several options for managing them. Deferment and forbearance are short-term solutions to delay payments and are typically not advised for long periods of time. Federal repayment plans are intended to help borrowers afford their payments long-term.

Specifically, income-driven repayment plans base payments on income and family size and can end in forgiveness after 20 to 25 years in the program. Such plans can reduce monthly payments, but require yearly paperwork. While that may sound intimidating to some borrowers, many have found enrollment in IDRs helps them stay current on their loans. With the right support, continued enrollment can benefit borrowers.

"At Ameritech Financial, we help borrowers understand IDRs in the context of their situation, and we help them navigate the application process," said Knickerbocker. "Each application might require different documents, and we assist our clients in gathering the appropriate ones for their application, year after year."

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]

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Assistance with Paperwork Benefits Borrowers
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