Ameritech Financial on Simplifying Federal Student Loan Repayment
ROHNERT PARK, Calif., April 4, 2018 (Newswire.com) - Federal student loans can be complicated. Borrowers may have Direct Loans, which are currently being disbursed to students. Or, they may have FFEL program loans or Perkins loans. They might have PLUS loans. Borrowers’ loans may be subsidized or unsubsidized, and they usually have multiple loans from the multiple years or semesters that they attended college. All these factors can contribute to confusion in the repayment process. Ameritech Financial is a private document preparation company that helps federal student loan borrowers simplify their student loan situation by assisting with applications for repayment plans.
“Confusion during the repayment process can prevent progress and result in delinquency,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “When it gets too confusing, borrowers should take the time to understand their loans and their options for managing them.”
When it gets too confusing, borrowers should take the time to understand their loans and their options for managing them.
Tom Knickerbocker, Executive Vice President of Ameritech Financial
College students fund their higher education with a blend of grants, scholarships and loans. Borrowers often have a unique loan situation that they are responsible for dealing with after they leave college. In especially confusing situations, borrowers may even have more than one loan servicer. Such borrowers must make multiple payments each month (one to each servicer) just to stay current on their federal student loans.
Some borrowers may welcome simplification of their student loan repayment. The Department of Education offers a variety of repayment options, also known as borrower protections. While deferment and forbearance can provide short-term relief to borrowers experiencing temporary hardship, other options can affect long-term repayment.
Consolidation is similar to the private sector’s refinance options: borrowers can consolidate their multiple federal student loans into a single Direct Consolidation Loan with a single servicer, a single interest rate and a single monthly payment. While federal borrowers cannot get an overall lower interest rate through consolidation, it is often the first step in applying for other repayment plans that can potentially reduce payments and ease financial stress.
Income-driven repayment plans (IDRs) calculate payments using income and family size information. Depending on their specific financial situation, borrowers in such plans may get a payment as low as zero dollars. Additionally, after 20 to 25 years in such a program, any balance remaining will be forgiven. Ameritech Financial is a private company that helps federal student loan borrowers complete all paperwork involved in applying for IDRs.
“There are quite a few options that borrowers can pursue to simplify and streamline their federal student loan repayment,” said Knickerbocker. “We at Ameritech Financial feel that borrowers shouldn’t let confusing loans or options get in the way of successful repayment. That’s why one of our main priorities is helping borrowers understand and apply for such options. We try to make the process of simplifying their loans as easy as possible for our clients.”
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.
Ameritech Financial is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone 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
Source: Ameritech Financial
