State Funding Linked to College Tuition, but Borrowers Should Focus on Their Own Repayment, Says Ameritech Financial
Rohnert Park, CA, June 4, 2018 (Newswire.com) - College students can leave college with anywhere from no debt to over a hundred grand of student loan debt. While scholarships, savings, and parental assistance can all influence how much a student borrows, two major contributing factors are tuition and living costs. The cost of living depends on the area — places like the San Francisco Bay Area and Manhattan have a high cost of living. Tuition, it turns out, is linked to state funding. Ameritech Financial, a document preparation company that assists borrowers with federal repayment plan applications, reminds federal student loan borrowers that income-driven repayment plans may relieve some financial stress.
“Students can’t really control how much their school will charge them for tuition, but they can control how they repay the loans they take out to cover it,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial.
Students can't really control how much their school will charge them for tuition, but they can control how they repay the loans they take out to cover it.
Tom Knickerbocker, Executive Vice President of Ameritech Financial
During the Great Recession of 2008, many states pulled funding from higher education, and most are still at pre-recession funding levels. To make up for that loss of funding from states, institutions had to raise tuition. Schools are still increasing their tuition each year and students often rely on student loans to cover the costs. However, some states are investing in higher education more than others. For example, Wyoming and Illinois spend the most per student compared with all other states.
While states could increase their funding to help lower tuition costs, Ameritech Financial encourages individual borrowers who are struggling with student debt now to be proactive about managing their debt. Federal income-driven repayment plans (IDRs) can help federal student loan borrowers reduce their payments and get on track for potential loan forgiveness. Such plans calculate payments on income and family size and require annual recertification.
“At Ameritech Financial, we help borrowers apply for IDRs that can potentially reduce payments and hopefully improve their financial situation,” said Knickerbocker. “We hope that our services will enable them to work toward their goals and not worry as much about their student loans.”
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.
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
Source: Ameritech Financial
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