ROHNERT PARK, Calif. - April 24, 2018 - (Newswire.com)
Columbia University’s medical school announced recently that the school is implementing a new scholarship program that would replace loans with scholarship funds for students who qualify for financial aid. This new effort to reduce loans will likely be welcome by many medical students attending Columbia since medical students are known to have notoriously high loan balances upon leaving school. Student loan borrowers who already have their debt may be wondering about their options, though. Ameritech Financial, a document preparation company which assists student loan borrowers in applying for federal repayment plans, reminds federal student loan borrowers to consider utilizing repayment resources to better their financial situations.
“Medical students often take on these big balances to go through school, and it may be a few years after they graduate before their earning power really gears up,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “Former med school students who have federal loans don’t have to be drowning in that debt, though.”
Columbia’s new program should be a boon to their students who qualify. Some students who do not qualify for financial aid but who still can’t afford the school’s price tag may end up with loans, though. Despite this, many would-be student loan borrowers may end up graduating medical school debt free. Considering the average total loan balance for med school students is around $200,000, that’s no small thing.
Current borrowers who were not able to participate in programs like Columbia’s new one may be curious about what to do with their medical school debt. To address their debt, federal student loan borrowers may wish to turn to income-driven repayment plans. These plans base monthly payments on income and family size. Doctors who are in their residencies, for example, may not have salaries high enough to comfortably make the necessary payments on such sky-high balances without adjusting for income.
Ameritech Financial is a private company which aims to help student loan borrowers improve their repayment situations by helping them apply for income-driven repayment plans. Ameritech Financial offers clients a financial analysis and document preparation assistance for initial plan applications. Borrowers who successfully enroll in a new plan and choose to stay in that plan also receive document preparation support from Ameritech for yearly recertifications.
“We need doctors and we need doctors who aren’t overwhelmed by their debt,” said Knickerbocker. “That’s a healthier society all around.”
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
customer.service@ameritechfinancial.com
Related Links
Ameritech Financial home page
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Original Source: Ameritech Financial: Treating Medical School Debt With Repayment Options May Help Federal Student Borrowers
