Ameritech Financial Encourages Teachers to Learn Their Options for Managing Federal Student Loans

ROHNERT PARK, Calif., May 8, 2018 /PRNewswire/ -- Teachers are a necessary part of American society as every child is expected to complete grade school. While teachers are required to earn at least a bachelor's degree, they may accumulate a lot of debt in the process. With low starting salaries, teachers may have an especially difficult time paying down that debt. Ameritech Financial, a document preparation company that helps borrowers understand and apply for federal repayment plan applications, reminds those who may be struggling to repay their federal loans that they may find relief in income-driven repayment plans and other programs.

"I can't imagine that teaching would be easy, but teachers often face challenges outside the classroom," said Tom Knickerbocker, executive vice president of Ameritech Financial. "Besides not having enough supplies for students, they often don't get paid enough to live comfortably without a secondary source of income. That shouldn't happen."

The average starting salary for college graduates with a bachelor's degree is about $50,000, while the average starting salary for teachers is about $38,000. That difference can greatly affect teachers' ability to pay down their loans, especially if they received an advanced degree or certification on top of their bachelor's degree. Additionally, teachers who wish to progress in their careers are often encouraged to pursue more education.

Many teachers have to work multiple jobs to keep up with their monthly payments. Those additional hours may get in the way of grading papers or being available for students or parents outside of class time. It can certainly get in the way of any advanced coursework intended to advance a teaching career.

Teachers have a variety of options for dealing with their debt, but they might not know about them. Several programs, both federal and state-sponsored, will forgive student loans of eligible teachers. Federal income-driven repayment plans (IDRs) are available to any federal student loan borrower. Such plans may reduce payments by basing them on income and family size. Paired with Public Service Loan Forgiveness, teachers may see loan forgiveness after 10 years of eligible employment.

Ameritech Financial is a private company that helps borrowers understand federal IDRs. The company helps with applications to enroll in such programs and also helps eligible borrowers remain aligned with PSLF loan type and repayment plan requirements.

"It's hard being a teacher when you don't have the resources you need to devote your attention to your students," said Knickerbocker. "At Ameritech Financial, we help teachers and others who may be struggling with their student debt to apply for IDRs that might help them afford their payments better. We hope that being in such plans can let them focus on what's important: teaching the next generation."

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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Teachers May Benefit From Federal IDRs
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SOURCE Ameritech Financial