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Tag: income-driven repayment

  • Ameritech Financial: A Few Colleges Have Ended Student Loan Debt, Most Are Working to Reduce It

    Ameritech Financial: A Few Colleges Have Ended Student Loan Debt, Most Are Working to Reduce It

    Press Release
    –


    updated: Nov 30, 2018


    ROHNERT PARK, Calif., November 30, 2018 (Newswire.com)
    –
     Recent articles suggest that more and more colleges are doing away with loans. Though there is a focus on reducing student loan debt, few schools are actually committed to eliminating student loans. Most of the now 80 colleges that have “no loan” programs are making efforts to reduce student loan debt, especially for students who are from lower income brackets. These institutions have witnessed the rising student loan debt crisis — 44 million borrowers owe more than $1.5 trillion — and know the negative effects it is having on graduates. Ameritech Financial, a document preparation company, understands the difficulty that overwhelmed borrowers face when trying to make ends meet each month. Ameritech Financial works closely with borrowers to help them determine the best options available to them from federal programs, such as income-driven repayment plans (IDRs), that can possibly lower payments based on income and family size.

    “We appreciate that colleges are taking steps to reduce and sometimes even eliminate student loan debt,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “For many students, that was not an option and some inevitably find themselves struggling to keep up with payments. We can help them apply for and maintain enrollment in IDRs, and make sure they are maximizing the benefit available to them.”

    For many students, that was not an option and some inevitably find themselves struggling to keep up with payments.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    There are a handful of schools that give enough aid that no students are expected to have any student loan debt when they graduate. Amherst, Brown, Pomona, Stanford, Harvard and Yale all have scholarships and grants that pay for any gaps in student resources. Amherst, for example, provides more than $50 million in scholarship aid and has replaced all loans with scholarships and grants. The other colleges on this short list similarly replace financial aid loan offers with scholarship funds.

    Other colleges, such as Haverford, Northwestern, Rice and Swarthmore, for example, offer 45-60 percent of their students scholarships that replace loans. Indeed, Rice offers all students with family incomes of less than $80,000 full support with financial packages that do not include loans. Approximately 45 percent of Northwestern students were awarded $144 million in grants to eliminate loans for those students.

    Other schools on “no loan” lists are participating in a Department of Education study with a goal of reducing student loan debt and increasing the chances of better financial outcomes for students. Select students at Arizona State, for example, will receive “enhanced” loan counseling each year before receiving loans. This counseling will include learning about borrowing, repayment and budgeting. This program does not eliminate loans. In fact, only students who are borrowing can participate, though it does seek to lower total student loan debt.

    “Efforts to reduce or eliminate student loan debt are to be applauded,” said Knickerbocker. “Often, by the time borrowers call us, they are at the end of their financial rope. We act as their trusted advocate as they deal with their loan servicer, filing all the paperwork for IDRs and even helping with recertification year after year so that a borrower can get back to living their life.”

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial
    5789 State Farm Drive #265
    Rohnert Park, CA 94928
    1-800-792-8621
    media@ameritechfinancial.com

    Source: Ameritech Financial

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  • American Financial Benefits Center: For Many Vet Techs, Helping Animals Costs Financial Security

    American Financial Benefits Center: For Many Vet Techs, Helping Animals Costs Financial Security

    Press Release
    –


    updated: Nov 30, 2018


    EMERYVILLE, Calif., November 30, 2018 (Newswire.com)
    –
     Much is written about veterinarians and their student loan debt. Some consider the student loans that vets take out while earning advanced degrees to be some of the most challenging to pay off. The average student loan debt for 2016 veterinary school graduates was $167,534.89, and more than one-fifth have at least $200,000 in debt. Unfortunately, the mean salary for veterinarians was $88,770 for the same year. Sadly, veterinary technicians are just as underwater. The average pay for a vet tech is $14.26 per hour, well under $30,000 per year. According to College Calculator, it costs an average of $28,070 to earn a veterinary technician certificate, and students borrow an average of $6,642. According to dvm360, many vet techs are feeling overwhelmed by student loan debt. As thousands of American Financial Benefit Company (AFBC) clients know, borrowers overburdened by student loan debt sometimes need help navigating the many repayment programs, such as income-driven repayment plans (IDRs).  

    “Most people who go into veterinary work love animals, and it’s too bad that love and dedication to caring for animals make them susceptible to challenging financial outcomes,” said Sara Molina, manager at AFBC. “Our goal is to help clients navigate applying for and maintaining enrollment in IDRs. We can make sure they are staying up to date with recertification and that they are maximizing the benefit available to them, hopefully keeping that payment low and giving them some breathing room.”

    Most people who go into veterinary work love animals, and it’s too bad that love and dedication to caring for animals make them susceptible to challenging financial outcomes.

    Sara Molina, Manager at AFBC

    To become credentialed, vet techs must attend accredited schools. Previously, vet techs in the U.S. could earn their credentials by working a certain number of supervised hours, but that path has mostly been scrapped. Vet tech schools can cost from $4,000 to $15,000 per year and are available as both two-year and four-year programs. School has become increasingly necessary as non-credentialed vet techs are not allowed to work at veterinary hospitals in many states.

    As credentialed vet techs have become the industry standard, it has become harder for aspiring techs to skip college. Regrettably, the student loan debt associated with their credentials has also become unavoidable. An unscientific sampling suggested that vet techs suffer from many of the same poor outcomes associated with all borrowers overloaded by their debt and underfunded by their salaries. Borrowers employed in the field often have to move back home or live with roommates, skip luxuries and hope their older car doesn’t break down. Bills are an unrelenting and unwelcome reality for these student loan borrowers.

    “We feel good about continuing to help thousands of clients. Going to college shouldn’t be a life sentence,” said Molina. “We remain focused on making sure our clients understand programs which may be available to them for their benefit and assist them in taking care of their paperwork and making sure all the i’s are dotted and the t’s are crossed.”

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center
    1900 Powell Street #600
    ​Emeryville, CA 94608
    1-800-488-1490
    ​info@afbcenter.com

    Source: American Financial Benefits Center

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  • 99% Rejection Rate From PSLF Program Doesn’t Bode Well for Current or Future Applicants, Says Ameritech Financial

    99% Rejection Rate From PSLF Program Doesn’t Bode Well for Current or Future Applicants, Says Ameritech Financial

    Press Release
    –


    updated: Nov 30, 2018


    ROHNERT PARK, Calif., November 30, 2018 (Newswire.com)
    –
    Getting rejected doesn’t feel good, and it is some people’s worst nightmare. Depending on what someone got rejected from, it may feel like there are long-term repercussions to deal with from getting rejected, and in a way there is. Student loan borrowers applying for Public Service Loan Forgiveness (PSLF) programs, may have recently felt that type of rejection recently. Ameritech Financial, a document preparation service company, says getting rejected from what is supposed to be a life-bettering program may be devastating for the many borrows who experienced it.

    99% of applicants for the PSLF were denied. Only 96 borrowers out of 30,000 were accepted by the program to have their student loans forgiven after 10 years of qualified payments while working in a public service position. Many of those who applied had been working for their ten years, only to apply and find out for some reason their loans and payments weren’t the right kind needed to qualify for the loan forgiveness. Borrowers relying on things going as anticipated to plan out beyond those ten years now have to make crash course adjustments to their life. “Struggling with student loan repayment for years, then finding a way to make it better, all to find out you didn’t qualify while doing a public service, that’s a harsh idea, but for many, a harsh reality,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial.

    Struggling with student loan repayment for years, then finding a way to make it better, all to find out you didn’t qualify while doing a public service, that’s a harsh idea, but for many, a harsh reality.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    Going to college to get an education requires loans for most people. If someone doesn’t have the money to pay for it themselves, it may feel like being punished for being born into the wrong family. Getting help from a professional, like Ameritech Financial, may help borrowers better understand their situation so as to avoid a painful notice saying someone has been denied PSLF. Other federal forgiveness programs may be an option as well for borrowers, ones that can potentially lower monthly payments and get a borrower on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle, and for too many borrowers it is. That’s why we’re so dedicated to helping our clients and being a student loan advocate,” said Knickerbocker.

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

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  • Ameritech Financial: Degrees Don’t Guarantee Smooth Repayment, Especially for Minorities

    Ameritech Financial: Degrees Don’t Guarantee Smooth Repayment, Especially for Minorities

    Press Release
    –


    updated: Nov 29, 2018


    ROHNERT PARK, Calif., November 29, 2018 (Newswire.com)
    –
    The idea is to take out student loans to afford college, get a degree and then work on repayment for a few years after landing a good-paying job with the earned degree. For many student loan borrowers, that’s not the case. For borrowers of color and international students, who have higher chances of difficulty in handling the repayment period, repayment is not just a hassle but a burden. Ameritech Financial, a document preparation service company, says that a degree doesn’t guarantee a job, and an education doesn’t guarantee an easy life.

    “So many factors play into the sort of repayment a borrower will have, often well beyond a borrower’s control,” said Tom Knickerbocker, executive vice president of Ameritech Financial.

    So many factors play into the sort of repayment a borrower will have, often well beyond a borrower’s control.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    Minorities suffer the worst when it comes to loan repayment and have difficulties completing college in the first place. International students have to work on campus, receiving fewer hours and less pay than those who keep jobs off campus. When trying to pay for day-to-day necessities to avoid having to take out more loans, a student job may not be enough. African-American college graduates owed almost $7,500 more than white graduates and have an average default rate more than five times higher too. With often less-stable socio-economic backgrounds to help them afford college without loans and frequently facing discrimination in the hiring process, a hard-earned degree doesn’t necessarily mean they’ll have an easier time of bettering themselves. African-American youth are also more likely to leave college without a degree. Not obtaining a degree sadly does not mean they will be excused from loan repayment and they will likely struggle even more in repayment than their counterparts who did obtain a degree.

    It’s often recommended to get a degree to get a better job to afford a better life, but it’s not that simple. The majority of Americans will need financial assistance to attend college at an attempt at personal betterment. Many of those borrowers will struggle with repayment. Ameritech Financial may be able to help qualified student loan borrowers apply for federal income-driven repayment programs that can potentially lower their monthly payments and get them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so committed to helping our borrowers and being a student loan advocate,” said Knickerbocker.

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial
    5789 State Farm Drive #265
    ​Rohnert Park, CA 94928
    1-800-792-8621
    ​media@ameritechfinancial.com

    Source: Ameritech Financial

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  • AFBC: Johns Hopkins University May Have Just Done Away With Student Loans for Good

    AFBC: Johns Hopkins University May Have Just Done Away With Student Loans for Good

    Press Release
    –


    updated: Nov 29, 2018


    EMERYVILLE, Calif., November 29, 2018 (Newswire.com)
    –
     Not everyone can rely on scholarships to take them through school. Instead, most will have to rely on student loans to attend college, which repaying those often takes far longer than advertised as taking and costing more money. American Financial Benefits Center (AFBC), a document preparation service company that has helped many struggling student loan borrowers apply for certain federal student loan repayment programs, says that a recent donation may make a world of difference for students hoping to avoid student loans.

    At Johns Hopkins University in Baltimore, more students than ever before will have a chance to utilize scholarships to attend college, as former New York City Mayor Michael Bloomberg has announced that he will donate an unprecedented $1.8 billion to his former college. The previous largest donation to an educational institution was made by the Bill & Melinda Gates Foundation in 1999 to the tune of $1 billion over 20 years. The donation by Bloomberg, one of the world’s richest people, will give the university a chance to move away from the students’ ability to pay tuition and towards their ability to perform academically to determine admission. “It takes assistance from all varieties of groups and people to help fight the student loan crisis that America currently faces. The more help, the better,” said Sara Molina, manager at AFBC.

    It takes assistance from all varieties of groups and people to help fight the student loan crisis that America currently faces. The more help, the better.

    Sara Molina, Manager at AFBC

    The donation was only recently announced, so it will likely take a while before it is given and students can begin receiving the benefit of such a wonderful gift. Not all college attendees will be able to benefit from this donation, though. Even previous students from Johns Hopkins may not see a direct benefit from this event and will have to continue with student loan repayment. Struggling with student loan repayment is something all too many Americans have to deal with. AFBC has helped thousands of student loan borrowers apply for federal income-driven repayment plans that have potentially lowered their monthly payment and gotten them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so committed to helping our clients better their loan situation how we can and through the yearly recertification process,” said Molina.

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center
    1900 Powell Street #600
    Emeryville, CA 94608
    1-800-488-1490
    info@afbcenter.com

    Source: American Financial Benefits Center

    Source link

  • Ameritech Financial: Bipartisan Agreement Allows Student Loan Deferment for Cancer Diagnosis

    Ameritech Financial: Bipartisan Agreement Allows Student Loan Deferment for Cancer Diagnosis

    Press Release
    –


    updated: Nov 28, 2018


    ROHNERT PARK, Calif., November 28, 2018 (Newswire.com)
    –
    Cancer is a devastating diagnosis. Though individuals are more likely to survive than they were in the 1990s, more than 1.7 million cases will be diagnosed in 2018. More than 600,000 will not survive. As patients deal with the sobering news and begin treatments to beat the disease, dealing with everyday responsibilities can be nearly impossible. A recent bipartisan congressional spending agreement included a student loan deferment option for individuals who are diagnosed with cancer. Patients can defer their monthly payments during their treatment and for six months after without accruing interest. Student loan debt is the last thing patients need to deal with when fighting cancer, according to Ameritech Financial, a document preparation company that helps borrowers overwhelmed with student loan debt apply for federal repayment programs.

    “It is good to see bipartisan agreement on something we can all agree on — that patients need to focus on their health when facing cancer without the burden of worrying about their student loan debt,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “For many borrowers, struggling with student loan debt is an everyday concern. We help clients apply for and maintain enrollment in federal programs, such as income-driven repayment plans (IDRs). These can possibly reduce monthly payments based on income and family size, and leave room to deal with all of life’s ups and downs.” 

    It is good to see bipartisan agreement on something we can all agree on — that patients need to focus on their health when facing cancer without the burden of worrying about their student loan debt.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    This congressional bill is directed at younger borrowers, who hold the bulk of the $1.5 trillion in student loan debt. Though, increasingly, individuals in their 50s, 60s, and 70s, with much higher incidences of cancer, will also benefit since they hold student loan debt, as well. The details have yet to be worked out. The Department of Education (DOE) suggests continually checking in with its website. Currently, the DOE notes that there is a deferment available, but that borrowers will have to check in with their loan servicers until an assessment of the new law is made.

    Unfortunately, illnesses other than cancer do not currently qualify for this deferment. Those borrowers might qualify for a hardship deferment or forbearance. Forbearance does include accrual of interest, while some deferments do not. Again, DOE advises that borrowers who need assistance during illness check the website and speak with their loan servicers. Private loans do not have the same protections as federal loans, and this includes illness. Private lenders often offer options for postponement, but balances will typically continue to grow. On the other hand, DOE does offer IDRs for those with federal loans, which base payments on income and family size and can reduce payments to as little as zero dollars per month.

    “We are glad that cancer patients won’t be facing overwhelming student loan debt along with their disease,” said Knickerbocker. “We have potential solutions for those who are worn down by student loan debt and unable to keep up with their payments. We will be your advocates as you deal with your loan servicers, make sure all your paperwork is properly filed, and even keep you updated and work with you on your annual recertification going forward if you feel it is the best option. We have helped thousands of clients find some peace of mind and financial freedom so they can get on with their lives.”

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

    Source link

  • From Floods to Fires: Ameritech Financial Discusses What Climate Change Could Mean for Student Loan Borrowers’ Finances

    From Floods to Fires: Ameritech Financial Discusses What Climate Change Could Mean for Student Loan Borrowers’ Finances

    Press Release
    –


    updated: Nov 28, 2018


    ROHNERT PARK, Calif., November 28, 2018 (Newswire.com)
    –
     From the recent California wildfires to detrimental hurricanes like Sandy and Katrina, it has become more apparent that we may need to better prepare ourselves for these natural disasters. Scientists believe that climate change and global warming could be behind some of the disasters we are facing today. When thinking about being more prepared for emergencies, one has to think about what this means for their bottom line or, more specifically, their student loans. Ameritech Financial, a document preparation company, will continue to help borrowers overwhelmed with student loan debt apply for and maintain enrollment in federal programs, such as income-driven repayment plans (IDRs) that can possibly lower monthly payments based on income and family size.

    “No matter what happens with climate change, our goals at Ameritech remain clear,” said Tom Knickerbocker, executive vice president of Ameritech. “We help borrowers who are unable to keep up with their student loan debt. We guide our clients through the sometimes overly complex processes and act as their trusted advocate as they deal with their loan servicers.”

    No matter what happens with climate change, our goals at Ameritech remain clear.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    When feeling the heat on one’s budget, what is the first thing that comes to mind? For many, it’s housing. This is especially important for those who live on the coast or in areas that may soon become flood regions. Getting a home in these areas may be more difficult because of changes in mortgages, property value and insurance. Banks want to make sure that a property continues to hold its value. If the borrower defaults, the bank wants to know if it can get its money back from the property and if the homeowners can continue paying off their loan. Giving loans for properties in flood-prone areas will get riskier as time goes on. Interest rates will soon begin to reflect this. What if someone lives in an area with potential for fire damage, like in California? Insurance for this natural disaster will continue to rise and be more and more difficult to get. Escalating costs for wind damage, water damage and fire damage will end up getting passed onto the consumers in higher premiums.

    If insurance is rising and property value is in flux, what does that spell for everything else that goes into a home, like food and energy costs? Prices for food that is developed in areas that face natural disaster damage have already begun to increase. For example, higher temperatures can cause dehydration which prevents pollination and can lead to slowed photosynthesis. Science Magazine has also released studies about how increases in temperature will likely increase our energy demand, as well as change our ability to produce electricity and deliver it reliably. For student loan borrowers that may already struggle with their finances, increases in food and electricity could spell disaster. Income-driven repayment plans (IDRs) may be able to help. IDRs allow for student loan borrowers to possibly reduce monthly payments, which could help those battling rising costs.

    “It’s always difficult to predict when this will all happen,” said Knickerbocker. “But we will continue helping our clients, working with them for years to come and assisting them in applying for certain repayment programs.” As a culture living with climate change, people may have to start budgeting for it. They have to think about potential changes in housing, increases in food and energy costs, and even increases in medical costs. Saving for these natural disasters will be increasingly necessary, especially for those living in the most affected areas.

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial
    5789 State Farm Drive #265
    Rohnert Park, CA 94928
    1-800-792-8621
    media@ameritechfinancial.com

    Source: Ameritech Financial

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  • AFBC: Want to Be Paid to Move? Tulsa, Oklahoma, May Be Looking to Do Just That

    AFBC: Want to Be Paid to Move? Tulsa, Oklahoma, May Be Looking to Do Just That

    Press Release
    –


    updated: Nov 28, 2018


    EMERYVILLE, Calif., November 28, 2018 (Newswire.com)
    –
     Figuring out where to plant some roots and begin a new chapter in life isn’t always easy. There are all sorts of things to consider before moving and no one’s going to cover the costs to move. Or will they? American Financial Benefits Center (AFBC), a document preparation service company that has helped many student loan borrowers, says that more and more towns and states are trying out ways to entice people to move to their area and that student loan borrowers may have a golden opportunity ahead of them if they’re willing to relocate.

    Tulsa, Oklahoma, has recently created Tulsa Remote, which is a special program designed to entice people to move there. Eligible applicants who agree to move to and live in Tulsa for a year while working remotely will receive $10,000 over a period of time; $2,500 will be received in the beginning to cover relocation expenses, $500 a month for a year and then $1,500 once the program is completed. Sounds pretty good, doesn’t it? “Student loan borrowers often need all the help they can get. Even if some programs aren’t inherently designed to help them, they may find new opportunities to help ease the struggle,” said Sara Molina, manager at AFBC.

    Student loan borrowers often need all the help they can get. Even if some programs aren’t inherently designed to help them, they may find new opportunities to help ease the struggle.

    Sara Molina, Manager at AFBC

    The point of the program, of course, is not to just have people move in for a year, but to encourage them to move and stay to help with economic and community growth. Job-seeking young professionals, from researchers and writers to tech-savvy opportunity seekers that are 18 or older and willing to work for a company already based out of Tulsa County, making a pledge to move to Tulsa and live there for the year-long requirement might just be a newfound opportunity some may have hoped for. For now, only around a dozen people will be selected to participate, but Ken Levit, an executive director of George Kaiser Family Foundation, says the city hopes to have up 300 workers in the program someday. At that time, they may even open up the restrictions a little to not only have semi-locals able to relocate but some people looking to move into this opportunity.

    When student loan repayment is at the forefront of the mind, it can be hard to find opportunities that help with the situation instead of potentially making it an even harder struggle. Borrowers struggling with student loan repayment may be able to find help with the grant systems more places are starting up, but also with federal-level programs. AFBC has helped thousands of struggling student loan borrowers apply for income-driven repayment programs that have potentially lowered their monthly payment and gotten them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so committed to helping our clients better their loan situation and through the yearly recertification process,” said Molina.

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center
    1900 Powell Street #600
    ​Emeryville, CA 94608
    1-800-488-1490
    ​info@afbcenter.com

    Source: American Financial Benefits Center

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  • Ameritech Financial Talks Notable Government and Business Policies Which May Lower Student Loans Like the Student Loan Repayment Acceleration Act

    Ameritech Financial Talks Notable Government and Business Policies Which May Lower Student Loans Like the Student Loan Repayment Acceleration Act

    Press Release
    –


    updated: Nov 27, 2018


    ROHNERT PARK, Calif., November 27, 2018 (Newswire.com)
    –
    Ameritech Financial is closely following the Student Loan Repayment Acceleration Act that Senator Cory Gardner of Colorado proposed recently. If this bill passed it would allow employers to contribute up to $10,000 per year towards their employee’s student loan debt. If an employer decided to use this bill they would be able to decide whether they would match an employee’s contributions, either fully or partially, or pay a certain amount regardless of an employee’s contributions. While this Act would drastically help many borrowers if it were passed, there are many corporate policies that may help borrowers today. Ameritech Financial, a document preparation company, assists student loan borrowers in applying for federal income-driven repayment plans available now but believes legislation enabling student loan assistance benefits would also benefit borrowers.

    “Student loans are a problem that everyone is trying to solve,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “With all of the alternative plans available to a borrower and all of the new policies enacted to confront student loans, it feels like we may be making steady progress towards solving the student loan crisis.”

    With all of the alternative plans available to a borrower and all of the new policies enacted to confront student loans, it feels like we may be making steady progress towards solving the student loan crisis.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    The Student Loan Acceleration Act would be a huge benefit to borrowers, but there are already corporate policies in place which may be able to help. Companies like PwC have already created a program to help their employees repay their student loans by up to $1,200 per year. Contributions like these may become more common due to a recent IRS ruling that allowed companies to make student loan assistance a part of their tax-deductible 401(k) plans. However, these benefits only apply to people involved in specific organizations that are using this ruling.

    One of the most successful policies for student loan assistance may be the income-driven repayment (IDR) plans available to all borrowers of federal student loans. Aligning with an IDR can potentially lower a student loan borrower’s monthly student loan bill to 10 to 15 percent of their monthly discretionary income and result in federal student loan forgiveness after remaining in the plan for 20 to 25 years. The navigation of the different options and completion of paperwork may be difficult or overwhelming for some, but the program provides a long-term solution to pay down student loans while having the repayments adapt to a borrower’s individual situation. IDRs are currently available to most borrowers who have federal student loans, though due to bad information given by some student loan servicers, many borrowers may not realize the options available to them.

    “We see the difficulties that student loan borrowers face and we are happy that so many people are doing all they can to help solve the student loan problem,” said Knickerbocker. “We hope to help student loan borrowers find the plan that they need in order to regain control over their own finances.”

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

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  • Making Poor Assumptions About Student Loan Borrowers’ Financial Situation Does No One Any Favors, Says AFBC

    Making Poor Assumptions About Student Loan Borrowers’ Financial Situation Does No One Any Favors, Says AFBC

    Press Release
    –


    updated: Nov 27, 2018


    EMERYVILLE, Calif., November 27, 2018 (Newswire.com)
    –
    The majority of Americans attending college will need some sort of financial assistance. People who don’t need financial assistance for college, or much else in life, and sometimes even people who also need help, seem to harshly judge those who don’t fit their image of who needs assistance and who doesn’t. American Financial Benefits Center (AFBC), a document preparation service company that has helped many struggling student loan borrowers says judging borrowers from a distance is all too easy compared to how much harder it is to get them the help they need.

    With the average cost being around 10k just for in-state colleges, that says a lot about why the majority of Americans will be needing help. Not all borrowers will take out a loan to cover the full cost of their higher education, but even a few thousand may take longer than anticipated to pay off, which means paying off the accumulated interested, as well.

    People deserve to have a quality life, regardless of where they started, and student loan repayment often threatens people’s standard of living when it shouldn’t realistically do so, through no fault of the borrower.

    Sara Molina, Manager at AFBC

    “People deserve to have a quality life, regardless of where they started, and student loan repayment often threatens people’s standard of living when it shouldn’t realistically do so, through no fault of the borrower,” said Sara Molina, manager at AFBC.

    The trouble with trying to decide who deserves assistance, student loan related or not, is that it’s very easy to not fit the preconceived notion of what it means to look poor. When someone is walking around with designer clothes, designer accessories, and looking healthy, bright, and clean, it can be difficult to picture them needing financial assistance. But appearances can be deceiving. Someone wearing all designer stuff could have any number of reasons for owning them. Shopping at second hand or discounted overstock stores, or being gifted items is a great way to get ahold of luxury items and an all too good way to have people judging an individual. Not to mention, affording a few brand name items is still remarkably cheaper than affording a college education.

    With the recent college semester bringing the total student loan debt amount to over $1.5 trillion, more people are making the choice to better themselves through higher education. A college degree of some sort is deemed a necessity by most of society, and too often people are looked down on when they struggle with repayment of loans they took out to try and meet those expectations. AFBC has helped thousands of struggling student loan borrower’s apply for federal income-driven repayment programs, that have potentially lowered their monthly payments and gotten them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so dedicated to helping our clients apply for much-needed repayment programs and through the yearly recertification process,” said Molina.

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center

    1900 Powell Street #600

    Emeryville, CA 94608

    1-800-488-1490

    info@afbcenter.com

    Source: American Financial Benefits Center

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  • Student Loan Debt Significantly Lowers the Ability to Start a Business, Says American Financial Benefits Center

    Student Loan Debt Significantly Lowers the Ability to Start a Business, Says American Financial Benefits Center

    Press Release
    –


    updated: Nov 26, 2018


    Emeryville, CA, November 26, 2018 (Newswire.com)
    –
    ​​Starting a business can be an arduous task for the average person, but for someone carrying student loan debt, it may feel impossible. A borrower with $30,000 in student loans is 11 percent less likely to start a business than someone who was able to graduate debt free, according to Karthik Krishnan, an associate professor of finance at Northeastern University. The average graduate from the class of 2017 walked away with $37,172 in debt — and that extra $7,000 is certain to reduce the chances of entrepreneurship even further. American Financial Benefits Center (AFBC), a document preparation company, believes that entrepreneurship is important for an economy to flourish and shouldn’t be held back by student loan debt.

    “Starting a business takes time, resources, and money,” said Sara Molina, Manager at AFBC. “If someone is working two jobs to pay off debt, they have no time. Their resources are already limited by their debt. And most likely most of their money is going to their debt and the necessities.”

    Starting a business takes time, resources, and money. If someone is working two jobs to pay off debt, they have no time. Their resources are already limited by their debt.

    Sara Molina, Manager at AFBC

    Borrowers who are working on paying off their loans may not have the capital to invest in a business and may have a significantly harder time getting a business loan from a financial institution. With half of small businesses failing by their fifth year, many would-be entrepreneurs with debt may be less likely to take on the risk of a new business, as well. Small business owners are the ones hit particularly hard by student loan debt, according to a study by researchers at the Federal Reserve Bank of Philadelphia and Pennsylvania State. While that may make the problem sound less significant, it’s actually an important distinction; small businesses are one of the top sources of employment in the United States, not to mention most business start-ups tend to start small. Researchers found that the number of small businesses with one to four employees dropped 14 percent between 2000 and 2010 and warn that this trend of fewer small business startups could have an extensive impact on the economy as a whole.

    Student loan borrowers who are interested in starting their own business, but who don’t feel they have the ability to do so, may benefit from applying for an income-driven repayment plan (IDR). An IDR takes into account a borrower’s family size and discretionary income and can potentially offer significantly lower monthly payments. After 20 to 25 years of qualifying payments, the debt may end in the forgiveness of any remaining federal student debt.

    “Small businesses are so important for the local economy,” said Molina. “Their impact creates a ripple effect into the national economy. It’s essential that people who have the drive to start a business are able to get their dream off the ground. We truly believe IDRs can offer entrepreneurs some much-needed assistance.”

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center

    1900 Powell Street #600

    Emeryville, CA 94608

    1-800-488-1490

    info@afbcenter.com

    Source: American Financial Benefits Center

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  • Ameritech Financial: Billions of Robocalls Scamming Consumers, Including Student Loan Borrowers

    Ameritech Financial: Billions of Robocalls Scamming Consumers, Including Student Loan Borrowers

    Press Release
    –


    updated: Nov 26, 2018


    ROHNERT PARK, Calif., November 26, 2018 (Newswire.com)
    –
    Right now, about 30 percent of all cell phone calls come from robocall scammers. Next year, that number will increase to half of all calls, according to First Orion. The ability of scammers to mask caller identity is a main reason for this huge increase in fraudulent calls. Scam robocalls play upon the anxiety, greed, or naivete of callers. The most common calls are for cut-rate healthcare, telecom “warnings,” “free vacations,” and “help” with student loan debt. Individuals with student loan debt, in particular, are convenient marks for scammers, since their debt so often overburdens their ability to pay for it. Ameritech Financial, a document preparation company, assists borrowers in applying for and maintaining enrollment in federal repayment programs, such as income-driven repayment plans (IDRs) that can possibly lower monthly payments based on income and family size.

    “Scam calls range from being simply annoying to being devastating for those who fall victim to their deceptive practices,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “It makes sense that many of these calls involve student loan debt, since it is such a widespread challenge for millions of Americans. For those overwhelmed by student loan debt, one way to lower the risk of falling for a scam is to better understand your options. We can help you decide which is the best IDR for you, and make sure you continue to maximize the benefits available to you for the life of the loan.”

    It makes sense that many of these calls involve student loan debt, since it is such a widespread challenge for millions of Americans.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    Neighborhood spoofing allows robocalls to look like local calls. Ninety percent of fraudulent robocalls will come from a familiar area code in 2019, according to The Inquirer. These calls are continuing to increase in sophistication. Scammers employ the same A-B testing as marketers, constantly shifting to techniques that are most effective. In one highly unnerving call, scammers appear to be calling from the phone number of the person receiving the call. Scammers then say that their cell phone account has been flagged for security purposes. They eventually ask for social security information or credit card numbers to clear up this non-existent issue. 

    There were nearly 500 million robocalls in October relating to healthcare, nearly 10 percent of the 5.1 billion robocalls to Americans that month. The scams are fooling some people because it is open enrollment for many health insurance plans. They often suggest that existing healthcare accounts have been compromised, or they offer extremely low-priced plans. Scammers almost always attempt to get consumers to share sensitive information.

    Stressed out student loan borrowers are also prominent on the radar of scammers. One fraudulent robocall suggests that the Department of Education is no longer accepting entry into the Public Service Loan Forgiveness program. The call entices borrowers to sign up for long-term forbearance and stop future payments. Similar to the other scams, the idea is to string callers along until they give up credit card or social security information.

    “It looks like these scams are only increasing in number and sophistication,” said Knickerbocker. “Fortunately, even if you can’t keep up with your student loan debt, you have better options than answering unsolicited phone calls. We can be your trusted advocate as we help you navigate your student loan debt and repayment options. IDRs might be a great way for you to lower your monthly payment enough to take control of your financial circumstances. We can walk you through the entire process so that you can get back to living your life.”

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

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  • Ameritech Financial: Ohio Student Loan Borrowers May Not Need to Choose Between Repayment and Buying a House

    Ameritech Financial: Ohio Student Loan Borrowers May Not Need to Choose Between Repayment and Buying a House

    Press Release
    –


    updated: Nov 26, 2018


    Rohnert Park, Calif., November 26, 2018 (Newswire.com)
    –
    Immigration between states is nothing new as people are always looking for a situation that suits them better. Some states have better job prospects for certain fields, others may have more affordable housing. The reasons people move vary, but they move because they’re seeking something better. That’s fine and good for states that have large stable populations already, but some lower population states are struggling to keep people around. A recently proposed Ohio bill may have at least part of a solution for that. Ameritech Financial, a document preparation service company, says prospective home-buyers may have more options if they’re stuck dealing with student loan repayment.

    Senate Bill 334, which was introduced on November 13th of this year, would potentially help around 400 low- to middle-income families afford housing better by canceling out much of their student loan costs. Depending on the cost of the house, there might be some loans to repay afterward, still, but the amount would be greatly minimized. Home buyers would have to live in the purchased home for 5 years for the full effects to set in. But for locals struggling with long-term living situation choices, this could be a huge boon. Even better, it would also work with the first-time buyer programs currently available in Ohio, as well.

    The student loan issue at hand will need several options to help get it under control, and I’m happy to see different groups taking the initiative to assist.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    This idea came from the already instated Maryland SmartBuy program from 2016. So far, it has been so successful that it has had another $3 million added to its funding to expand the program further. For people struggling to afford homeownership due to student loans in those states, it may be what they need. It may even encourage other states to follow suit. “The student loan issue at hand will need several options to help get it under control, and I’m happy to see different groups taking the initiative to assist,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial.

    For borrowers in other states who are struggling with student loan repayment, there may be options for help at the federal level. Ameritech Financial helps qualified student loan borrowers apply for federal income-driven repayment programs that can potentially lower their monthly payments and get them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so committed to helping our clients and being a student loan advocate,” said Knickerbocker.

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

    Source link

  • Student Loan Repayment Isn’t Only a Problem for the Young, Says Ameritech Financial

    Student Loan Repayment Isn’t Only a Problem for the Young, Says Ameritech Financial

    Press Release
    –


    updated: Nov 25, 2018


    ROHNERT PARK, Calif., November 25, 2018 (Newswire.com)
    –
    People say stuff like “it’s only downhill from here”, trying to say that it gets easier. In theory, as people have had more time to climb their professional ladder, save up some money, and get comfortable in their home, it should be easier later on in life. But for older student loan borrowers that is not necessarily the case. Ameritech Financial (ATF), a document preparation service company, says that student loan repayment can have hurdles that are hard to pass at any age.

    Many people hear that it will take them about ten years to repay their student loans when they first take them out, as that’s supposed to be the estimated amount of time. But for many borrowers that’s not the case. Every missed payment pushes out the end of the repayment period, and a minimum payment likely won’t cover much of the principal, if it touches any at all. Which then leads to borrowers owing for decades longer than they would have anticipated when they first took out that loan. It doesn’t paint a very happy picture of the future that way.

    Regardless of who the loan was taken out for, paying off student loans later in life interferes with a lot of things. Saving for retirement, potentially forcing someone to live in a less comfortable situation when they’ve worked so hard to afford some time to rest, and many other reasons make repaying student loans later in life trickier. Not that repayment is an easy situation in general.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    Other times it’s not even their college experience that older people may be paying for, but those of their children or grandchildren. With ParentPLUS loans, a parent or guardian can take our loans in their name to pay for a dependent’s education. It may be much easier on the college attendee, but then comes the trouble of repayment for the ones who took it out. This is especially true if they took out multiple loans to put multiple people through college.

    “Regardless of who the loan was taken out for, paying off student loans later in life interferes with a lot of things. Saving for retirement, potentially forcing someone to live in a less comfortable situation when they’ve worked so hard to afford some time to rest, and many other reasons make repaying student loans later in life trickier. Not that repayment is an easy situation in general,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial.

    Struggling with student loan repayment isn’t exclusive to any age group. ATF helps qualified student loan borrowers apply for federal income-driven repayment programs that can potentially lower their monthly payments and get them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so committed to helping our clients and being a student loan advocate,” said Knickerbocker.

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

    Source link

  • Ameritech Financial Talks Small Business Saturday

    Ameritech Financial Talks Small Business Saturday

    Press Release
    –


    updated: Nov 23, 2018


    Rohnert Park, CA, November 23, 2018 (Newswire.com)
    –
    During the holidays consumers are bombarded by advertisements for this season’s holiday shopping. At the top of the list, Black Friday. But with all those rampant Black Friday sales nearly behind us, it is time to look ahead at Saturday and what Small Business Saturday (SBS) is all about. During this time of year, people may find it difficult to juggle paying off student loans and affording those holiday essentials. For those who find themselves struggling to keep up with their student loan debt during the holidays and beyond, Ameritech Financial is a document preparation company that assists federal student loan borrowers with applications for income-driven repayment plans (IDRs) offered by the Department of Education.

    Small Business Saturday is held to promote shopping local and buying local. “Shopping local is good for the local economy and our local small business owners,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “But it can be more expensive and make student loan borrowers hesitate.” By participating in Small Business Saturday, individuals are helping bolster the local economy, and in effect their whole community. While being able to zip over to the department store or gaze at the aisles and aisles of gifts can be easy, being able to support local businesses is exactly what the holidays are all about.

    Shopping local is good for the local economy and our local small business owners.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    One of the best ways to help is by just going out and finding small businesses in the local community. If there is a store that is new in the area, now is the chance to see what they have to offer. Shopping local can also be a unique experience, as products may not be found anywhere else. Thinking of getting something more individualized for gift recipients this year? Think about shopping local. If high student loan payments get in the way of shopping local, borrowers with federal loans may consider federal IDRs that can reduce payments to 10 to 15 percent of discretionary income and end in forgiveness after 20 to 25 years of enrollment.

    “With the help of an IDR, student loan borrowers might even have some money left over to use when shopping on Small Business Saturday,” said Knickerbocker. “Ameritech helps clients during this season and throughout the year to stay on track for student loan forgiveness, which might allow them to spend a little more on gifts if they want to. Because who doesn’t want to spread some cheer this holiday season?”

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial

    5789 State Farm Drive #265

    Rohnert Park, CA 94928

    1-800-792-8621

    media@ameritechfinancial.com

    Source: Ameritech Financial

    Source link

  • Student Loans: A Quick Head Start or Long Term Problem? AFBC Weighs In

    Student Loans: A Quick Head Start or Long Term Problem? AFBC Weighs In

    Press Release
    –


    updated: Nov 23, 2018


    EMERYVILLE, Calif., November 23, 2018 (Newswire.com)
    –
    EMERYVILLE, Calif., November 23, 2018 (Newswire) -​​Student loans have a bad reputation at this point, and it’s not entirely undeserved. But is it the loans themselves that are an issue, or the industry that makes them a necessity and that handles repayment? American Financial Benefits Center (AFBC), a document preparation service company that has helped many struggling borrowers, says that every issue has multiple facets to it for people to consider.

    A recent study following 20,000 students over a five year period found that taking out loans lent itself to students being able to accomplish more things during their time at college. They were able to work less and provided extra financial security if an emergency came up. Not having to focus as much on working outside of schooling also meant less stress from that job, allowing students to better focus instead on studying. Aside from making attending college less stressful, students who took out student loans on average earned more credits per school year and higher grades overall.

    There’s good and bad to every decision, even student loans. It’s just a matter of deciding if the good and bad are worth it to an individual.

    Sara Molina, Manager at AFBC

    As a result, the researchers concluded that schools that attempt to discourage students from taking out loans may be doing them a disservice in the long run. Student loan borrowers often lament their loans during the repayment period, thinking about how they’d likely be able to better afford things if they weren’t focused on their loans. However, in the cases that borrowers are able to get jobs thanks to their degree, that statement likely isn’t true because they wouldn’t have that job if it weren’t for attending college with a loan. “There’s good and bad to every decision, even student loans. It’s just a matter of deciding if the good and bad are worth it to an individual,” said Sara Molina, manager at AFBC. 

    But a degree-related job doesn’t necessarily make repayment easier. Many borrowers still struggle to make ends meet and need some sort of assistance during the repayment period. AFBC has been there for thousands of struggling student loan borrowers, to help them apply for federal income-driven repayment programs that have potentially lowered their monthly payments and gotten them on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so dedicated to helping our clients in the ways that we can,” said Molina.

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center

    1900 Powell Street #600

    Emeryville, CA 94608

    1-800-488-1490

    info@afbcenter.com

    Source: American Financial Benefits Center

    Source link

  • ATF: Fifth in Population, Thirty-Third in Size, But Can Pennsylvania Really Be the Worst State for Student Loans?

    ATF: Fifth in Population, Thirty-Third in Size, But Can Pennsylvania Really Be the Worst State for Student Loans?

    Press Release
    –


    updated: Nov 22, 2018


    ROHNERT PARK, Calif., November 22, 2018 (Newswire.com)
    –
     With 50 states in our country, of course one of them is going to rank the worst in a few categories. The worst may depend on who is asked, and those that live in the mentioned state may have a slightly biased opinion. Ameritech Financial, a document preparation service company that works with struggling student loan borrowers, say “the worst” will always change based on what angle is being looked at. But an editorial piece written by a Pennsylvania local goes on about why Pennsylvania is the worst state when it comes to student loan problems.

    “Every state has problems on some level, and that includes how colleges and funding interact with college attendees. States with larger populations are going to have more problems because it’s hard to get more cohesive work done when there are many parts,” said Tom Knickerbocker, executive vice president of Ameritech Financial.

    Every state has problems on some level, and that includes how colleges and funding interact with college attendees. States with larger populations are going to have more problems because it’s hard to get more cohesive work done when there are many parts.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    The average graduate in Pennsylvania has about $36,000 in student loans. With a student loan amount matching the average salary, that’s a heavy burden to bear. Having the kind of loan amount to repay heavily limits how much that borrower can participate in the economy. Not being able to save up, buy a house, a new car or afford replacements of much truly limits not just the local and national economy but the borrowers’ quality of life. The editorial went on to place much of the blame on state officials, saying the continual cutting and freezing of state funding for colleges resulted in shifting the financial responsibility onto students and parents. Auditor General Eugene DePasquale has acknowledged that there is a problem with funding, but is worried about colleges taking the received funding and spending it on flashy attractions to encourage students to attend rather than working on funding a quality education for students.

    The student loan debt crisis that the country is currently facing is going to take many groups working together and a fair amount of time. But borrowers currently struggling in the face of repayment don’t have time to wait for things to get better. Ameritech Financial may be able to help qualified student loan borrowers better their situation by helping them apply for federal income-driven repayment programs. These programs can potentially lower monthly payments and get a borrower on track for student loan forgiveness after 20-25 years of being in the program. “We believe student loan repayment shouldn’t have to be a struggle. That’s why we’re so dedicated to helping our clients and being a student loan advocate,” said Knickerbocker.

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial
    5789 State Farm Drive #265
    ​Rohnert Park, CA 94928
    1-800-792-8621
    ​media@ameritechfinancial.com

    Source: Ameritech Financial

    Source link

  • American Financial Benefits Center Shares Some Strategies to Take Control of Student Loans

    American Financial Benefits Center Shares Some Strategies to Take Control of Student Loans

    Press Release
    –


    updated: Nov 22, 2018


    EMERYVILLE, Calif., November 22, 2018 (Newswire.com)
    –
    Having student loans is common, but knowing successful repayment strategies is not. Knowing the different options available for private and federal loans can reduce repayment by thousands of dollars, provide a flexible repayment schedule, or allow a borrower to have greater control over their finances. Despite this, either due to a lack of knowledge or due to receiving bad information from a servicer, many borrowers are not implementing the repayment strategy that would help them pay off their debt best. American Financial Benefits Center (AFBC), a document preparation company, suggests looking into repayment strategies, such as alternative repayment programs, to potentially find more efficient ways to lower their student loan payments.

    “For many borrowers, the right repayment strategies are kept oddly out of reach,” said Sara Molina, Manager at AFBC. “Since student loans dictate the finances of millions of Americans, every step toward improving them could be a step in the right direction.”

    For many borrowers, the right repayment strategies are kept oddly out of reach. Since student loans dictate the finances of millions of Americans, every step toward improving them could be a step in the right direction.

    Sara Molina, Manager at AFBC

    The first strategy that borrowers may want to consider is borrowing as little as possible while prioritizing federal loans over private loans. Federal loans generally have a lower interest rate than private loans and have access to alternative repayment methods known as income-driven repayment plans (IDRs). An IDR potentially reduces a borrower’s monthly student loan payments to 10 to 15 percent of their monthly discretionary income and leads to student loan forgiveness after 20 to 25 years in the program. By aligning with IDRs, borrowers can form an effective long-term strategy to pay off their student loans without letting student loans dictate their financial life.

    Many students may need more help than what the federal loans can provide for higher education and seek out private loans, as well. Private loans often have a higher interest rate than the federal loans and do not have the repayment options that the federal loans have. Because of this, the most popular repayment strategies for private loans require making extra payments and reducing the debt quickly.

    There are three popular strategies that can be implemented to reduce private student loan debt: The debt avalanche, the debt snowball, and loan refinancing.

    1. The debt avalanche – This strategy requires that extra payments be made to the loan with the highest interest, reducing the interest paid over time. A borrower may need to inform their servicer to apply any extra payments toward the loan with the highest interest, instead of dividing it among all loans.
    2. The debt snowball – This strategy requires that extra payments be made to the loan with the smallest balance, removing smaller loans quickly. A borrower may need to inform their servicer to apply any extra payments toward the loan with the smallest balance, instead of dividing it among all loans.
    3. Refinancing lumps some or all of the student loans together into one loan with a potentially lower interest rate depending on a borrower’s credit rating or the credit rating of their co-signer. Refinancing federal loans into private loans, unfortunately, removes alternative repayment options like IDR or deferment, so it should be viewed as a last effort after the borrower is sure they can successfully repay the loan.

    With these strategies, it may be possible to significantly reduce the amount a borrower will repay for their student loans no matter what their loan type happens to be.

    “Education is often considered necessary. Knowing the best way to pay off student loans could be just as necessary,” said Molina. “We want borrowers to know the best options available to them to let them take control of their student loans, take control of their own finances, and take control of their financial well-being.”

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center

    1900 Powell Street #600

    Emeryville, CA 94608

    1-800-488-1490

    info@afbcenter.com

    Source: American Financial Benefits Center

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  • Ameritech Financial: Two Texas Bills Propose Free College for Some Students

    Ameritech Financial: Two Texas Bills Propose Free College for Some Students

    Press Release
    –


    updated: Nov 21, 2018


    ROHNERT PARK, Calif., November 21, 2018 (Newswire.com)
    –
     Ameritech Financial is closely monitoring developments in legislation proposed in Texas to help residents pay for higher education. Texas state Senator Judith Zaffirini has authored two bills. The first proposes to pay for community college tuition for students meeting certain conditions. The second, and much more ambitious, bill proposes to give Texans meeting certain conditions, whose annual household income is under $150,000, free tuition to universities. For years, states have squeezed funding for higher education, placing a heavy economic burden on students and families as they pursue higher education. Recently, though, states have noted the economic drag this places on their economies and have made efforts to reduce the strain of student loan debt on borrowers. Ameritech Financial, a document preparation company, helps borrowers overwhelmed by student loans apply for and maintain enrollment in federal programs, such as income-driven repayment plans (IDRs), that can possibly lower monthly payments.

    “We carefully watch for developments in the student loan industry and are encouraged that states are attempting to build solutions for students and their families,” said Tom Knickerbocker, executive vice president. “We seek potential solutions for our clients, acting as a trusted advocate, assisting with the paperwork and navigating the sometimes overly complex processes required by loan servicers. Our goal is to assist our clients in gaining back some financial freedom by helping them apply for federal programs aimed to possibly lower their monthly payment based on income and family size.”

    Programs like these can indeed lower costs which can have a dramatic effect on overall student loan debt.

    Tom Knickerbocker, Executive Vice President of Ameritech Financial

    Texas Senate Bill 33 calls for free tuition to community colleges for Texas residents. Students must have graduated from high school or received an equivalency certificate within the last 12 months. Further, students must be enrolled in an eligible associate degree program or certificate. These students must be enrolled at least part-time and apply for financial aid. Convicted felons and those convicted of certain drug crimes are ineligible. Additionally, students who already have a degree or more than 90 college credits are also ineligible. Students must maintain satisfactory progress and the stipend expires on the third anniversary of the initial disbursement.

    The even more ambitious Texas Bill 32 gives residents free tuition to all low- and middle-income students to Texas universities if household income is below $150,000. The bill requires students to apply for financial aid, and the grant then covers any remaining tuition cost. The eligibility requirements are similar to Senate Bill 33, except the program allows students to participate if they have less than 135 credit hours. It also allows a longer period of time for completion, with the stipend ending at the fifth anniversary after the first disbursement.

    “Programs like these can indeed lower costs which can have a dramatic effect on overall student loan debt,” said Knickerbocker. “We remain committed to helping individual clients find potential repayment solutions so they can get back to pursuing their dreams.”

    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.

    Ameritech Financial Newsroom

    Contact

    To learn more about Ameritech Financial, please contact:

    Ameritech Financial
    5789 State Farm Drive #265
    ​Rohnert Park, CA 94928
    1-800-792-8621
    ​media@ameritechfinancial.com

    Source: Ameritech Financial

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  • Legislation Offers Reprieve for Cancer Patients With Student Loans; American Financial Benefits Center Praises New Law

    Legislation Offers Reprieve for Cancer Patients With Student Loans; American Financial Benefits Center Praises New Law

    Press Release
    –


    updated: Nov 21, 2018


    EMERYVILLE, Calif., November 21, 2018 (Newswire.com)
    –
     Cancer is hard enough to deal with on its own, so thankfully new legislation has been signed into law that will decrease the financial burden caused by undergoing cancer treatments for thousands of Americans paying down student loans. American Financial Benefits Center (AFBC), a document preparation service company that has helped many student loan borrowers apply for federal repayment programs, applauds this new law that allows cancer patients to put student loans into deferment while undergoing treatment.

    “People shouldn’t have to worry about things like student loans if they’re in cancer treatment fighting for their life. This legislation looks like a slam dunk,” AFBC Manager Sara Molina offered when told about the new law.

    Nothing is going to make a cancer diagnosis less scary, but at least because of this new law, patients with student loans will have less financial stress while working through their treatment.

    Sara Molina, Manager at AFBC

    The Deferment for Active Cancer Treatment Act was introduced by Reps. Ileana Ros-Lehtinen (R-FL) and Ed Perlmutter (D-CO) and signed into law on Sept. 28, 2018. The bill will allow student loan borrowers with cancer to place student loans in deferment, pausing their responsibility to make monthly payments while their focus and finances should be aimed squarely at the medical procedures they need in their fight for survival. If their loans are subsidized, they will not accrue interest during this time. Additionally, surviving patients will receive a six-month grace period after completing their treatment. The bill allows cancer patients to focus on their health instead of their monthly student loan bills. Or, more accurately, it allows them to focus on their health instead of their student loan bill without the negative financial consequences of skipping payments.

    This new legislation provides relief for people actively undergoing cancer treatments like chemotherapy or radiation therapy that can last up to four hours a day. Additionally, the six-month grace period is vital because after fighting for their lives, people may need time to get back into the mix of their career in order to reach the level of income they had before treatment. After those six months are up, survivors could choose to look into an income-driven repayment plan, or IDR, aimed to allow them to make more affordable loan payments based on their income and family size. With such a plan in place, financial stress from student loans can become a much smaller burden.

    “Nothing is going to make a cancer diagnosis less scary,” Molina added, “but at least because of this new law, patients with student loans will have less financial stress while working through their treatment.”

    About American Financial Benefits Center

    American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

    Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

    American Financial Benefits Center Newsroom

    Contact

    To learn more about American Financial Benefits Center, please contact:

    American Financial Benefits Center
    1900 Powell Street #600
    Emeryville, CA 94608
    1-800-488-1490
    info@afbcenter.com

    Source: American Financial Benefits Center

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