Ameritech Financial on Student Loan Repayment Accountability and Risk-Sharing Proposals
ROHNERT PARK, Calif., April 12, 2018 (Newswire.com) - Higher education is a risky investment for students who take out loans to fund their college experience. The Brookings Institution believes that schools offering student loans to their students should share that risk and let that accountability fuel improvement that can help students toward successful careers. Ameritech Financial, a document preparation company that assists with federal student loan repayment plan applications, reminds borrowers that if they can't afford their student loan payments, they may be eligible for a more flexible repayment plan.
"Student loans are a big burden and borrowers don't always feel prepared or well-equipped for repayment," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "They may benefit from some extra support, especially if they end up with a lower income than they had expected."
Student loans are a big burden and borrowers don't always feel prepared or well-equipped for repayment.
Tom Knickerbocker, Executive Vice President of Ameritech Financial
The risk-sharing proposal would require institutions to partially repay the federal government when a cohort of borrowers does not make enough progress on their student loans within 15 years of graduating. The hope would be that institutions would be proactive about improving educational outcomes for students to better set them up for success after they leave college.
As it is, unemployment rates for college graduates are low. However, those numbers include those who are underemployed, which means college graduates end up in jobs that typically do not require college degrees. Such jobs tend to offer lower wages, which can make student loan repayment difficult. The Brookings Institution risk-sharing idea may inspire schools to help students get jobs appropriate to their education level.
Borrowers who feel their student loan payments are too high or who may be struggling in repayment may consider looking into federal income-driven repayment plans (IDRs). Such plans base payments on income and family size and can potentially reduce payments to as low as zero dollars for certain situations.
"IDRs have helped a lot of borrowers stay current on their loans," said Knickerbocker. "At Ameritech Financial, we help borrowers understand and apply for IDRs. We hope our clients feel like their loans are manageable."
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
Source: Ameritech Financial
