ROHNERT PARK, Calif., April 27, 2018 /PRNewswire/ -- Going to medical school in America can be one of the most expensive education endeavors a student can undertake. Since many folks don't have an extra hundred thousand dollars or two to put towards school, these costs become debt. However, such big student loan balances may be a roadblock for medical professionals as they progress in their career. Ameritech Financial, a document preparation company that helps student loan borrowers apply for federal repayment plans, encourages borrowers looking to advance their medical careers to look into repayment options that may help them to do so.
"Doctors looking to start their own practice may be finding roadblocks if they have high amounts of student loan debt," said Tom Knickerbocker, executive vice president of Ameritech Financial. "But the right repayment situation may help bring borrowers closer to their goals."
Even with higher salaries than many other professions, doctors who borrowed upwards of $100,000 or $200,000 may find themselves struggling with monthly payments. Also, if a doctor wishes to buy into a medical group or found her own practice, having such large amounts of debt may slow the achievement of one of these goals. Whether it has to do with having the cash to cover payments or the presence of such high debt preventing further lending to finance a new business, student debt may get in the way.
Federal student loan borrowers who have medical school debt holding them back may benefit from a healthier repayment situation. The Department of Education offers various repayment and loan forgiveness options to federal loan borrowers. Ameritech Financial is a private, independent company not affiliated with any government agency which helps borrowers navigate their repayment options and apply for income-driven repayment plans.
Income-driven repayment plans allow borrowers to make payments based on income and family size. Doctors with high loan balances may find these types of options more affordable than the Standard plan payments. Certain repayment plans may also position borrowers for loan forgiveness years down the line. Ameritech Financial helps borrowers identify an appropriate plan, apply for the plan and recertify enrollment in the plan yearly if the borrower wishes to stay enrolled.
"Small practices are just as important as the big medical establishments, and we hope that student debt isn't the factor holding doctors back from starting their businesses," said Knickerbocker. "Ameritech Financial helps borrowers access their full range of repayment opportunities through application support."
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