The New Year is upon us and, for many, that means setting New Year’s resolutions. About 80 percent of Americans are making financial resolutions this year. More than other generations, millennials are resolving to pay off their student loan debt. To help make sure these resolutions don’t get forgotten within a couple months of 2018, Ameritech Financial, a document preparation company that specializes in federal student loan repayment plan applications, suggests borrowers make a plan that fits their student loans and financial situation.

Short- or long-term, big or small, financial resolutions can be anything from saving money to paying off debt. However, when it comes to student loans, family finances can be tricky to manage. Is it better to attack those student loans or focus on other debt? Or is it better to save as much money as possible? Answering questions like these may lead to identifying some financial goals, but the work doesn’t stop there.

“The trick to successful resolutions is making a plan and following through,” said Tom Knickerbocker. “Putting those financial goals on the resolution list is a great start, but managing finances can be hard, especially when you factor in high student loan payments. Having a plan is definitely a key for success.”

No matter what the financial goal is, the first step is often to analyze the situation and determine what needs to be done or what the options are. This means tracking expenses and income and coming up with a budget that frees up some finances to go toward that resolution. When student loans are involved, borrowers should take a close look at their loan accounts, paying special attention to things like balances, interest rates, and current repayment schedules.

“At Ameritech Financial, we get a big picture look at our clients’ finances to see where the student loans fit in,” said Knickerbocker. “Knowing where your finances stand is essential for the next step: come up with a plan of action that works with student loans instead of against them.”

Federal student loan borrowers who feel they need more room in their budget to work toward their goals may benefit from looking into federal repayment plans, especially those that calculate monthly payments based on income and family size. Ameritech Financial specializes in helping clients understand, apply for, and stay enrolled in those programs year after year so they can continue to work toward their financial goals.

“There’s nothing worse than feeling trapped by the student loans that were supposed to open doors,” said Knickerbocker. “When they hold you back from financial goals, something needs to change. We help borrowers who seek to rein in their student loan payments so they can focus on their goals.”

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.