Ameritech Financial Supports Federal Student Loan Borrowers Whose Debt is From Community College

ROHNERT PARK, Calif., April 4, 2018 /PRNewswire/ -- Community colleges may represent savings for students who can live at home while completing courses that give them credits that they can transfer to a four-year college. That approach is gaining traction, but community college may not always be the cheap option for some. Students who need to take out loans for community college may face difficult repayment later. Ameritech Financial, a document preparation company that assists borrowers with federal repayment plan applications, reminds borrowers that if they are having trouble making their student loan payments, there are a variety of federal options that may help.

"We encourage all students to do what they can to reduce the costs of college and therefore reduce their loan obligations," said Tom Knickerbocker, executive vice president of Ameritech Financial. "But there are many ways that students may walk away with more debt than they anticipate. We're here to help if that debt becomes unmanageable and if a borrower needs a little extra assistance in navigating the repayment landscape."

Community colleges typically cost much less than traditional four-year schools. When students live near a community college, they can reduce costs even more by living at home. However, students who do borrow to fund a community college education should minimize that debt by seeking scholarships and grants (often through completion of the FAFSA) and by completing their program as quickly as possible. Borrowers who extend their education may accumulate more debt. And those who do not complete the program may not see high enough earnings to afford to pay down their debt.

Community colleges may rely on remedial coursework to help prepare underprepared students for college-level work. A recent report described how schools have been over-enrolling students in those programs which charge students for taking the classes but do not provide credits toward graduation or transfer. These courses may extend the time students need to complete their program as they must first complete the remedial courses before those required by the program. That extra time and those extra courses add to the cost of college.

Federal student loan borrowers who find themselves with student debt they have trouble paying down may consider federal repayment options. Countless borrowers find value in income-driven repayment plans (IDRs) that base payments on income and family size, catering repayment to each borrower's unique situation. Such plans even end in forgiveness of any remaining balance after 20 to 25 years in the program.

"At Ameritech Financial, we help borrowers understand and apply for IDRs that might help them better afford their payments," said Knickerbocker. "Higher education remains essential for higher earnings throughout life, but the costs can become prohibitive for many. While community college may reduce costs for some, community college students are not immune to student debt and should be careful about borrowing even small amounts."

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.

Ameritech Financial is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone 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]

Related Links

Ameritech Financial home page

SOURCE Ameritech Financial

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https://ameritechfinancial.com