Don't Let Student Debt Stop a Resume-Boosting Internship, Ameritech Financial Says
ROHNERT PARK, Calif., July 27, 2018 (Newswire.com) - Taking an internship after college can be a great way to boost a resume, gain insightful experience and network for the next phase of a career. The problem is low pay or no pay at all. Internships are a classic trade-off. Recent graduates gain experience and connections that they would otherwise not have and businesses get cheap labor and potential new employees who have already been trained. There is an inherent inequality in this system, however. Ameritech Financial, a document preparation company that assists student loan borrowers with federal repayment plan applications, hopes that all students — not just the ones who can easily afford it — can take advantage of valuable internship programs.
“Students with resources have big advantages over lower-income students, and one advantage that gets overlooked sometimes is that they can afford to work a low-paying or non-paying internship after college,” Ameritech Executive Vice President Tom Knickerbocker commented.
A major contributing factor to the viability of an internship for a recent graduate is student debt. The degree to which borrowers can afford to spend time working a low- or non-paying internship depends on the degree to which debt shapes their financial reality. Students who can afford college without taking out student loans are more likely to take an internship because they do not have to worry about a monthly payment for loans and are more likely to receive assistance from family members.
Students with resources have big advantages over lower-income students, and one advantage that gets overlooked sometimes is that they can afford to work a low-paying or non-paying internship after college.
When students graduate with debt (2017 students who borrowed for college graduated with an average of $39,400 of it), they are more likely to enter straightaway into the full-time workforce. This disallows them the opportunity to build their resume with internships, while possibly compelling them to take a subpar job which could stagnate their career for years to come. They may suffer from a lack of networking and valuable on-the-job training, factors that could add years to the time it takes to establish a desirable career.
For students like this, income-driven repayment plans (IDRs) may offer a way to enter the internship market. IDRs formulate a monthly payment on a loan that is based on income and family size while working toward eventual loan forgiveness if the borrower remains enrolled in the plan. “IDRs might help level the playing field,” Knickerbocker began, “because they may help a recent grad afford to take an internship that could really help them establish a career. With low monthly payments that are based on your income, that valuable internship is a lot more possible for everyone, not just students with the means.”
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.
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive #265
Rohnert Park, CA 94928
Source: Ameritech Financial