ROHNERT PARK, Calif., April 20, 2018 /PRNewswire/ -- For students in many fields of graduate study, having debt is the norm - student debt, specifically, especially when it comes to master's and professional degree programs, where funding is often scarce. Student loan borrowers who were in master's degree programs should be aware of repayment options available to them, especially because they often face such steep monthly payments. Ameritech Financial, a document preparation company that helps federal student loan borrowers apply for repayment plans, encourages former grad students to explore their choices for loan repayment.
"Graduate students often take on a high amount of debt in the hopes of achieving a high enough salary to counter-balance it," said Tom Knickerbocker, executive vice president of Ameritech Financial. "But it doesn't always go to plan, and another solution is needed."
Solutions for federal student loan borrowers include a wide range of repayment and forgiveness programs which are offered by the Department of Education. One type of repayment plan is called income-driven repayment, which describes a few different plans that require borrowers to make payments based on income and family size. Borrowers in income-driven plans are also positioned for loan forgiveness at the end of 20 or 25 years of payments in such plans.
Because former graduate students in particular often have high balances relative to their incomes, income-driven repayment might be worthy of consideration for these types of former students. It's important to note that those who finished their degrees and others who did not finish are all eligible to apply for federal repayment and forgiveness options.
That said, income-driven repayments do require an application to enroll. Some borrowers may be unsure of the process and in need of additional assistance. Ameritech Financial helps borrowers select a plan, apply for the plan and recertify enrollment in the plan on a yearly basis if the borrower wishes to remain enrolled.
"Graduate students who are feeling overwhelmed by their debt are not without options when it comes to their federal loans," said Knickerbocker. "Ameritech Financial provides guidance and excellent support to borrowers of a wide range of education backgrounds and levels of debt."
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.
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]