ROHNERT PARK, Calif., April 25, 2018 /PRNewswire/ -- The world is changing as technology advancements propel us toward robotics and artificial intelligence. Such advances will change how Americans interact with technology and they will change the types of skills that are required for jobs in the future. Ameritech Financial, a document preparation company that helps borrowers with federal repayment plan applications, understands that college education will be increasingly necessary to support technological changes. The company reminds those with student loans that if they struggle with their payments, the Department of Education offers a variety of income-driven repayment plans that may provide relief.
"It sounds like science fiction, but robotics and AI are becoming more present in our society and will greatly affect the role of higher education in preparing students for the workforce," said Tom Knickerbocker, Executive Vice President of Ameritech Financial. "For example, more students may study computer science or engineering to go into those fields. Those college paths may result in sizeable student debt."
Skilled jobs that were previously rooted in industry may shift to robotics and programming, which require some degree of higher education. In addition to those hard skills, and because robots and AI may occupy current skills-based jobs, employers are seeking employees with creativity and critical thinking, traits unique to humans. Such soft skills are often honed in college.
However, the cost of college is increasing. Colleges are expected to increase their tuition while financial aid has failed to increase along with it. That may result in students graduating college with growing student loan balances. When a college education is necessary to keep up with advances in the workplace, the student debt "crisis" can only get worse.
Student loan borrowers who struggle with their debt may find relief in federal income-driven repayment plans (IDRs). Such plans base payments on income and family size and can end in forgiveness of any remaining balance after 20 to 25 years of enrollment in the program. Reducing the financial stress associated with high payments can allow borrowers to focus on success in their careers and family life.
"College is becoming more necessary as time goes on, but student debt may dissuade a lot of prospective students from attending college," said Knickerbocker. "That can only hurt our future as a technologically advancing country. At Ameritech Financial, we help borrowers understand federal repayment options and assist them in applying for programs that may benefit them so that they will hopefully feel more financially secure and better able to successfully repay their student 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.
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