While people of all ages have student loans, new research suggests that one factor affecting young adults’ high student debt may be their parents’ misfortunes in the housing market. Combined with other potential factors, this demonstrates how complex the rise of student debt is. But the deleterious effects of student loans don’t mean that debt has to be the hallmark of a generation. Ameritech Financial, a document preparation company that assists federal loan borrowers with applying for repayment plans and forgiveness programs, believes young adults should take advantage of all available resources to ease the burden of student loans.
“Many people think student debt is the defining feature of young people’s lives, but people are so much more than their debt,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “Ameritech Financial helps people understand options for making their debt more manageable, and helps them get to a place where they can think about more than just their debt.”
Research indicates after the housing crash, parents were unable to tap into their homes’ tanked equity for their kids’ college costs, and new students were forced to take on loans. Now it may seem that history is doomed to repeat itself. Except this time, the problem won’t be low home equity, it’s no home equity. MarketWatch, who reported on the research, notes the researchers found that having $10,000 more in student loans will reduce the likelihood of home ownership by more than five percentage points. Millennials and other young adults admit to delaying homeownership and citing their student loans as a cause. Will the children of the housing crash also be unable to help their kids pay for college because of delayed or deterred homeownership? And what will be the effects of this generation’s student loans?
It’s hard to say for sure. But Ameritech Financial is committed to helping people who feel like they are being dragged down by their student debt. Ameritech Financial assists federal student loan borrowers with applying for and maintaining enrollment in payment plans that could reduce their monthly payment. These payment plans, offered by the Department of Education, usually end in forgiveness after a 20- or 25-year period. Ameritech Financial also assists qualified borrowers in getting on track for Public Service Loan Forgiveness.
Ameritech Financial provides a customized experience to each client so borrowers are confident and clear about their student loan situations. Having a guide and an advocate during student loan repayment can make all the difference to borrowers who are feeling overwhelmed by their debt.
“When student loan payments are affordable, that helps bring other financial goals within reach,” said Knickerbocker. “We’re committed to helping borrowers who may have been affected by forces out of their control that led them to student loans. At Ameritech Financial, we can help young people gain control of their student loans so they have a chance to build something financially for their families and their futures.”
About Ameritech Financial
Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of people 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.
Options are available to help
Most people do not realize that there are programs designed to help those who may be struggling with their student loan payments. Thousands of borrowers have trusted Ameritech Financial to be their advocate. Click here to find out what options are available. Our services could help you get back on track.Get Started Learn More