Ameritech Financial Reminds Community College Students of Risk of Borrowing
ROHNERT PARK, Calif., March 9, 2018 /PRNewswire/ -- The cost of attending a four-year college has become too much for many students, as is evident by the national student loan crisis. Increasingly, community colleges are being touted as a reasonable alternative. Often local, community colleges boast lower tuition costs while offering associate's degrees or transferable credits. They can also offer more flexible schedules and smaller classes, making them appealing to nontraditional students. However, it can still be risky to take out loans for community college. Ameritech Financial, a document preparation company, helps federal student loan borrowers understand and apply for income-driven repayment plans that are intended to make monthly repayment more affordable.
"Attending a local community college can greatly reduce costs, whether students earn an associate's degree or transfer to a four-year school to continue their education," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "Community college students are not immune to the risks of borrowing for their education, however, and should be careful if they need to borrow."
The average cost of attending a public community college is about $3,500, which is less than half the average cost of a four-year public college. Many students minimize their education costs more by attending a local community college that allows them to live with their parents. While some students can work part-time and manage their course load to afford their community college education without taking out loans, many still take out loans. And with default rates approaching the high levels of for-profit schools, community college students who rely on loans should be careful.
Students funding a community college education with loans should do so through the FAFSA to take advantage of federal student aid. By completing the FAFSA, they may discover they qualify for grants or scholarships, which do not need to be paid back. If students do need to borrow, they should commit to completing their degree program; borrowers who do not graduate are much more likely to default on their loans, which can have a lasting negative impact on their credit score and financial outcome.
The Department of Education offers several income-driven repayment plans (IDRs) intended to help struggling borrowers manage their loan payments. By basing their payments on income and family size, IDRs have the potential to substantially reduce payments, enabling borrowers to afford their loans.
"Even borrowers with small balances can fall behind on their loans, but IDRs can help them stay on track," said Knickerbocker. "At Ameritech Financial, we help borrowers apply for IDRs that are meant to make repayment more affordable."
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.
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.
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]
Related Links
SOURCE Ameritech Financial
Related Links
https://ameritechfinancial.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article