Ameritech Financial Wishes Students Luck With College Decisions, Helps Borrowers Who Are Struggling With Loan Repayment
ROHNERT PARK, Calif., April 16, 2018 /PRNewswire/ -- College Decision Day is fast approaching and high school students across the nation may be feeling the pressure. May 1 is the deadline for students to choose a college and officially accept an offer. Choosing a college is an important decision and may be overwhelming. Students must balance academic programs with financial aid offers from each school. Many will end up with sizeable student loan balances. Ameritech Financial, a document preparation company specializing in federal repayment plan applications, reminds students that the Department of Education has a variety of repayment plans that may help if their college experience leaves them with unmanageable student debt.
"Students should do everything they can to minimize the debt they leave college with," said Tom Knickerbocker, executive vice president of Ameritech Financial. "There are so many variables involved when estimating college finances four or more years out that it's easy to take on more debt than originally planned."
Deciding on which college to attend can set the stage for a student's future. The academic program can determine job prospects and future earnings. Students may have applied to schools based on academic programs, but the decision about which to attend may come down to finances, which requires a different kind of planning.
Financial aid award letters outline the estimated costs of attending each college — but only for the first year. Tuition may increase in subsequent years or scholarships and grants may not be offered in the future. Students should also pay close attention to any gaps in funding and how much of the aid offered is in the form of loans. Ultimately, it may come down to net cost.
Choosing a higher-cost college that offers more scholarships and grants and fewer loans than a cheaper school may be the best option. However, those scholarships and grants may not be offered in subsequent years, so students should be aware that they may need more loans later.
Ameritech Financial suggests that even after the decision has been made, students should minimize their debt. Making budget-conscious decisions about housing, food and entertainment can help keep costs down. Minimizing time spent at college will also help, as each term adds to the total cost of college. Students who do end up leaving college with high debt or end up in low-income jobs may find relief in federal income-driven repayment plans that cap payments based on income and family size.
"It's nearly impossible to accurately estimate how much college is really going to cost," said Knickerbocker. "Students might not realize how much they will spend on food or they might end up in more expensive living situations than they predicted. Whatever happens, loans can affect students for decades after school. If they end up struggling with that debt, Ameritech Financial can help them understand and apply for federal repayment options."
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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