One Way to Decrease Student Loan Debt? Online Learning, Suggests Ameritech Financial
ROHNERT PARK, Calif., July 23, 2018 (Newswire.com) - Due to pressures resulting from higher tuition costs and larger student debt, institutions of higher learning are implementing measures to make going to college more efficient and affordable. The California State University (CSU) system is expanding and more energetically promoting a program that allows students to take one free online course each semester. This program is most useful when required traditional courses are closed or when available courses don’t line up with students’ busy academic schedules. With nearly 500,000 students currently enrolled at CSUs, this could significantly impact cost and graduation efficiency for students, lowering levels of student loan debt for thousands of students. For the millions of current borrowers with overwhelming levels of student loan debt, Ameritech Financial, a document preparation company, aligns student loan borrowers with federal programs that could potentially lower their monthly payments.
“It is encouraging that colleges are beginning to respond to the student loan crisis with many initiatives, including lowering costs and strengthening student graduation rates,” noted Tom Knickerbocker, executive vice president of Ameritech Financial. “This is good news for those still in college. But for those who are already struggling to back pay their student loans, many don’t know about income-driven repayment plans (IDRs), or how a document preparation company like ours could help them.”
Part of a larger initiative to decrease the amount of time that students spend in pursuit of a degree and increase graduation rates, students will be allowed to take one free online course per semester. A similar program has been in place since 2013, but now full-time, in-state students with at least a 2.0 GPA will be able to choose from more than 3,000 online courses offered throughout the CSU system. Students opting for free online courses can take a self-test to see if online education fits their learning style.
It is encouraging that colleges are beginning to respond to the student loan crisis with many initiatives, including lowering costs and strengthening student graduation rates.
The program will be promoted on social media and all CSU academic advisors are being trained so they can fully explain the program to students. This expansion is part of a national trend. Texas, Hawaii, Illinois, Nebraska and New York offer similar course-share programs. And, despite tradition, all institutions of higher learning are under pressure to expand and promote online offerings to increase student graduation rates and efficiency and decrease student cost, ultimately decreasing the burden of student loan debt. Until debt levels can be decreased, possibly lowering monthly payments with IDRs remains an option for borrowers.
“New technology and trends are slowly addressing the student loan crisis,” Knickerbocker reflected. “It will be interesting to see if these attempts can help students graduate with significantly less debt. Until then, we can help borrowers apply for and maintain enrollment in IDRs that can possibly provide some financial breathing room.”
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