Six Years After Student Debt Reached $1 Trillion, Ameritech Financial Encourages Borrowers to Assess Their Own Debt

ROHNERT PARK, Calif., April 27, 2018 /PRNewswire/ -- It's been six years since the national student debt totals surpassed $1 trillion, though student debt has been a problem far longer than that. While many factors may contribute to the upward trajectory of both national and personal student debt, the fact is that the numbers continue to rise and could drastically impact the economy. Ameritech Financial, a document preparation company that helps borrowers with federal repayment plan applications, encourages borrowers who are struggling in repayment to understand their own loan facts and options.

"Such big milestones for something so negative as student debt can provide a good opportunity for borrowers to touch base about their own debt and take action if necessary," said Tom Knickerbocker, executive vice president of Ameritech Financial.

Student loans in individuals' households have grown to make up the second-largest expense next to rent or a mortgage. Such a burden may make saving, preparing for the future or paying down other debt more difficult. In fact, many borrowers are delaying life milestones because of their debt. However, federal student loan borrowers have access to borrower protections that are intended to help them in repayment.

Federal options such as deferment or forbearance allow borrowers to temporarily postpone their repayment. Such options are beneficial when borrowers cannot make their payments for a short period of time. For longer solutions to unaffordable student loan payments, borrowers have access to a variety of repayment plans. Income-driven repayment plans (IDRs) are flexible plans that base payments on income and family size and end in forgiveness after 20 to 25 years in the program.

Ameritech Financial is a private company that helps borrowers navigate their federal options and understand them in the context of their own situation. The company assists those who wish to apply for a federal repayment plan with the application documents and yearly recertification as long as they wish to remain in the program.

"When hearing about national statistics, it can be comforting to get perspective on your own debt and how it fits into your overall finances," said Knickerbocker. "That's what we do at Ameritech Financial. We hope that our clients can avoid feelings of dread when they see shocking headlines about student debt and feel that they have theirs under control."

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
customer.service@ameritechfinancial.com

Related Links

Ameritech Financial home page

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SOURCE Ameritech Financial