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SOURCE Ameritech Financial
ROHNERT PARK, Calif., March 2, 2018 /PRNewswire/ -- Newly minted Chairman of the Federal Reserve Jerome Powell expressed concern this week that student loans could be hindering future economic growth because of their impact on borrowers' financial lives. While Powell noted he understood that it was in only Congress' purview to take action on this matter, student loans might be a problem for the nation's growth later on. Powell's comments may come as no surprise to those who are following the rise of student loans and the often-negative impact they have on borrowers' lives. Support and resources to help borrowers are well worth it. Ameritech Financial, a document preparation company that assists federal student borrowers in applying for repayment plans, supports expanding protections and options for student loan borrowers.
"The idea that student loans could have palpable effects on the economy is not at all shocking to me, just based on what I've seen as well as what I've read about the lives of student loan borrowers," said Tom Knickerbocker, executive vice president of Ameritech Financial. "Luckily there are options for student loan borrowers who are feeling the weight of their loans and we definitely support the expansion of those options."
Ameritech Financial provides assistance to federal loan borrowers who need help navigating repayment options. Income-driven repayment plans (IDRs) are offered by the Department of Education and require applications and recertification to become enrolled and maintain enrollment. Ameritech Financial is a private, independent company that helps borrowers to select, apply for and recertify their enrollment for as long as needed. IDRs can potentially lower payments, even as low as zero dollars per month, for qualified borrowers. Borrowers in IDRs are also positioned for loan forgiveness after 20 or 25 years of repayment if they remain in the program.
While federal student loan borrowers enjoy protections and options for repayment and forgiveness, it's clear that many borrowers are not getting the help they need and are feeling the negative financial effects that Fed Chairman Powell alluded to; and things might only get worse as student loan delinquency and default increase.
"Ameritech Financial supports maintaining borrower protections and repayment options, not just for the good of the borrower but for the good of the economy," said Knickerbocker. "That being said, our immediate concern is helping borrowers get to a good financial place where they are in control of their student loans."
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.
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive #265
Rohnert Park, CA 94928
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