ROHNERT PARK, Calif.,
June 13, 2018 /PRNewswire/ -- With
student loans in America currently totaled at $1.5 trillion dollars, student debt is quickly
becoming a national problem, and it seems to hit women and
minorities hardest. Indeed, women hold two-thirds of all
student debt, and it is unclear when reform will take place to
alleviate these issues. Instead of waiting for a bill to pass, like
the Employer Participation in Student Loan Assistance Act, perhaps
there are more immediate solutions. For example, Ameritech
Financial is a document preparation company that helps federal
student loan borrowers apply for federal income-driven repayment
plans that are intended to relieve financial stress from student
loans.
Women represent 56 percent of students enrolled in the fall
of 2016 but hold more student loan debt than men,
while African-American BA graduates default at five times the
rate of white BA graduates. Those high balances can be difficult to
pay off, especially considering the persistent wage
gap between men and women, and how those inequalities worsen
for blacks and Hispanics. Minorities also have difficulty paying
off their loans, which is evidenced by their high default rates and
a study that reports black graduates default more than
white dropouts. There's no easy fix for student loan inequalities,
and any future legislation should be analyzed closely to avoid
compounding the situation. Many of these students seek help
understanding their options with student loans, but they do not
know where to begin. Fortunately, Ameritech Financial offers a wide
variety of assistance to women and minorities of all
backgrounds.
"Student loans can help bridge the economic gap many people face
when they start thinking about attending higher education. It's a
shame when those same loans deter individuals from really putting
their best foot forward in life," said Tom
Knickerbocker, executive vice president of Ameritech
Financial.
The Department of Education offers several income-driven
repayment plans (IDRs) that differ in the details. However, all
share the basic principle that payments are calculated as a
percentage of discretionary income, which uses income and family
size information, and any remaining balance is forgiven after 20 to
25 years of enrollment in the program of choice. Borrowers may see
a reduced monthly payment through enrollment in an IDR, which can
likely help them improve their overall financial situation.
"No matter what your college experience looked like, federal
IDRs are intended to be an available option to help improve student
loan repayment outcomes," said Knickerbocker. "At Ameritech
Financial, we help any struggling borrower to understand and apply
for an IDR that will hopefully improve his or her personal
financial situation."
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.
Ameritech Financial Newsroom
Contact
To learn more about Ameritech Financial, please contact:
Ameritech Financial
5789 State Farm Drive #265
Rohnert Park, CA 94928
1-800-792-8621
media@ameritechfinancial.com
Related Images
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Women and Minorities Burdened by Student Loans
Credit: Wordley Calvo
Stock/Bigstock
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SOURCE Ameritech Financial