ROHNERT PARK, Calif., April 30, 2018 /PRNewswire/ -- In the past decade, the U.S. has seen an increase in college attendance which has helped fuel the student debt problem. Meanwhile, trade jobs are underfilled as high school students are pushed toward a four-year college path, potentially doomed to deal with student debt for decades. Ameritech Financial, a document preparation company that helps federal student loan borrowers with federal repayment plan applications, recommends that young adults who struggle with higher education debt look into income-driven repayment plans (IDRs).
"There is a big push these days toward trade jobs as the student debt crisis grows," said Tom Knickerbocker, executive vice president of Ameritech Financial. "Students have been told that the key to success is a college education and that loans will help them achieve that. But student loan horror stories might be changing the conversation."
Trade jobs are rising to the forefront of the higher education conversation. Such careers can be as lucrative as those that require a college degree, and they are attainable at a lower cost than traditional colleges. While they often do require education after high school, such education is much cheaper: certificates, certifications or associate degrees are often enough and can be half as expensive as a four-year college tuition.
However, students who do not see trade jobs as a viable option or simply go to college to figure out what they want to do often end up with a lot of debt. Furthermore, students who do not finish college have the hardest time paying down their student debt. In fact, about 30 percent of students who go to college don't earn a degree within six years. Advocates of the trade job pathway suggest that had they pursued a trade job right out of high school they would be in a better financial situation now.
Regardless of their college outcome, student loan borrowers who are struggling with their debt may find relief in a federal income-driven repayment plan. Such plans base payments on income and family size and can reduce payments to as low as zero dollars for certain situations. Ameritech Financial is a private company that helps borrowers understand IDRs and fill out the application paperwork.
"Without a plan going into college, the debt that students accumulate can turn out to be an obstacle rather than a catalyst," said Knickerbocker. "Students who are not sure what they want to do should weigh all their options, including college and trade schools. Those who do end up with debt they can't handle should know about federal repayment options that can help them cope with the 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:
5789 State Farm Drive #265
Rohnert Park, CA 94928
SOURCE Ameritech Financial