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Can Student Loans Lead to Foreclosures?

For many parents, sending kids to college is a large added expense. But for some parents, taking on

this expense may even resultin foreclosure of their homes according to an analysis by Ameritech Financial, a document preparation company. Ameritech Financial said that parents should consider student loans carefully, and think about applying for income-driven repayment plans to remain financially sound.

Parents might be inclined to apply for additional loans to fund their child’s education according to Tom Knickerbocker, EVP of Ameritech Financial, “because they think their kids aren’t ready to deal with the financial consequences of missing payments on loans, or worse.”

One way of solving this dilemma would be to get student loan borrowers to apply for income-driven repayment plans that may reduce their monthly student loans, Ameritech Financial advised.

Read Full Article [Source: www.dsnews.com]

The post Can Student Loans Lead to Foreclosures? appeared first on B2B Labs.

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Known for wearing plaid and sweater vests before they were popular, Ben Bradley is managing director of Macon Raine, Inc. (www.maconraine.com) - a management consulting, marketing and demand generation firm for technology organizations. He is a graduate of the University of Iowa and was a member of the undergraduate Iowa Writer’s Workshop. His interests include the intersection of technology and marketing. Because he was never very good at sports and doesn’t have many hobbies, his primary interests include the role of marketing on internal technology adoption, micro-finance, military uses of technology and media, self-organizing networks, network and physical security, collaboration and groupware. He frequently lectures his children on a variety of topics. Bradley was raised in Wheaton, Illinois and currently resides in Glen Ellyn, Illinois with his wife, two children and a purebred Latvian Goathound named Stella.