EMERYVILLE, Calif., October 3, 2018 (Newswire.com) - Ideally, landing a job that pays decently would be enough to handle student loan repayment and would help eliminate a lot of borrower worry. But in some instances, that better payout may hurt more than it helps. American Financial Benefits Center (AFBC), a document preparation service company, says that in some instances, borrowers may be hesitant to seek a higher-paying job because it might hurt their repayment plan.
“Student loan repayment isn’t an easy, clear-cut path with a one-size-fits-all solution to it,” said Sara Molina, manager at AFBC. Getting bonuses at a job or raise sounds great at first. More money usually means affording a better quality of life or having money to save, instead of living paycheck to paycheck. But if someone is receiving some sort of financial assistance, a raised income could mean losing that assistance. Unless the increase is enough to eliminate the need for any financial help, losing that assistance could put someone in an even worse situation than what they were in before.
This isn’t to say that people don’t deserve more money for continued good work, but it’s another facet to look at when considering the crisis that is student loans in our country. For student loans, at least, being in an income-driven repayment plan may still help more than those it doesn’t due to also being calculated based on family size. AFBC has worked with thousands of student loan borrowers to help them apply for federal income-driven repayment plans, potentially lowering their monthly payments, and getting them on track for loan forgiveness after 20-25 years of being in the program. “At AFBC, we think that student loan repayment shouldn’t have to be a struggle and that’s why we’re so committed to helping our clients in the ways we can,” said Molina.
Student loan repayment isn't an easy, clear-cut path with a one-size-fits-all solution to it.
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).
To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
Source: American Financial Benefits Center