Ameritech Financial: Even in Professions With the Highest Student Debt, Loan Payments Can Be Manageable
ROHNERT PARK, Calif., April 13, 2018 /PRNewswire/ -- Graduate degrees may promise higher earnings than bachelor's degrees, but they also typically come at a high cost. Graduate students can borrow up to higher limits than undergraduates, partly because they are considered independent students without parental assistance. A recent report revealed that some graduate degree programs result in much more debt than others, which can lead to much more difficult repayment despite higher potential earnings. Ameritech Financial is a private document preparation company that assists borrowers who are struggling with their student loan repayments to apply for federal income-driven repayment plans.
"Students usually choose to go to graduate school either because their career path requires an advanced degree or they are hoping to take advantage of higher lifetime earnings," said Tom Knickerbocker, executive vice president of Ameritech Financial. "They may be shocked to see just how much debt they are taking on to achieve those goals. If they end up with too much, they might be a good candidate for federal repayment plans."
Borrowers with advanced degrees make up a small portion of all borrowers, but they hold a greater portion of the total debt. Many such borrowers hold six figures of debt and owe over a thousand dollars each month, as is evident in the report ranking professions by student debt amounts. Optometrists came out at the top, owing an average monthly payment amount of $1,369. Following were veterinarians, physician assistants, dentists and pharmacists.
Borrowers with high monthly payments may benefit from federal income-driven repayment plans (IDRs). Such plans calculate payments based on income and family size and may end in forgiveness after 20 to 25 years of enrollment. Many borrowers with advanced degrees choose to work in the public sector to take advantage of Public Service Loan Forgiveness, in which they are required to be in an IDR.
"At Ameritech Financial, we understand that students can accumulate a lot of debt that can be difficult to pay down at the beginning of a career," said Knickerbocker. "We assist such borrowers by helping them understand their repayment options. If they decide to pursue an IDR, we also help with the application and yearly paperwork."
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.
Contact
To learn more about Ameritech Financial, please contact:
Ameritech Financial
5789 State Farm Drive #265
Rohnert Park, CA 94928
1-800-792-8621
[email protected]
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SOURCE Ameritech Financial
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