Rohnert Park, CA /PRNewswire/ - A master's degree in nursing isn't required to practice nursing, but many nurses choose to pursue an advanced degree to advance their career and boost their wages. Like all advanced degrees, students in Master of Science in Nursing programs often rely on student loans, which can cost a lot of money in the long run. Ameritech Financial, a document preparation company that helps federal student loan borrowers apply for federal repayment plans, reminds borrowers with advanced degrees that if they find themselves struggling with the additional debt, they may have federal options intended to relieve the strain.
"Nursing is a valuable, challenging and important occupation," said Tom Knickerbocker, executive vice president of Ameritech Financial. "When nurses are stressed about their student loan debt, it can make their job to care for others' health more difficult. Thankfully, nurses may be eligible for a variety of federal programs that may help them with their debt."
According to a recent report, 69 percent of nurses who graduated with a master's degree used student loans to fund their education. Of those, most expected to have between $40,000 and $54,999 of student debt. While about one-fifth of graduating nurses had that much debt, about 44 percent graduated with higher debt.
Federal student loan borrowers have access to several repayment plans if they are struggling with the payments in the Standard Repayment plan that all borrowers begin repayment in. Nurses with Perkins loans may be eligible for full discharge of that debt. Others may be eligible for other forgiveness programs, such as those through military service or other government-sponsored programs.
Those with federal Direct loans may benefit from an income-driven repayment plan (IDR). Such plans calculate payments based on income and family size. Nurses in IDRs may also be eligible for Public Service Loan Forgiveness (PSLF) depending on their employment situation. Ameritech Financial is a private company that helps borrowers navigate, understand and apply for IDRs and PSLF.
"Nurses do a lot of good in any given community," said Knickerbocker. "At Ameritech Financial, we hope to help reduce the financial stress that nurses may feel from their federal student loans by assisting with federal repayment options. We believe that all borrowers should be able to focus on their career rather than the stress they feel from their student debt."
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.
Ameritech Financial is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone 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.
SOURCE: Ameritech FinancialCopyright 2018 PR Newswire. All Rights Reserved