Ameritech Financial Supports Parents Saving for Their Children’s Futures
"Saving for college can be tough, but it's natural for parents who took out loans to pay for their own higher education to not want their kids to experience a similar debt burden," said
Funding a college education can be tricky, especially when families can't cover the whole cost. A recent survey showed that more than half of 529 plans have less than
Parents who decide to go the 529 plan route will need to choose one of two plan options: prepaid tuition or savings plan. Parents who prepay tuition typically lock in current prices, but their child may only be able to use that money at in-state public colleges. The savings plan is an investment account similar to a 401(k) and the recipient will be able to use those funds at any public or private school in the nation.
When parents have their own student loans but want to put aside money for their children, they may need help balancing the two. Ameritech Financial can assist borrowers in applying for federal income-driven repayment plans that may lower their monthly payments enough to free up some extra money to go into a savings account or 529 plan. The company also helps graduates who may have ended up with higher monthly loan payments than they anticipated.
"Getting a college degree can increase anyone's lifetime earnings, but large student loan payments may take a big portion of that," said Knickerbocker. "The lower their loan payments, the more borrowers will be able to focus on their career instead of the debt. Ameritech Financial can help borrowers reduce that monthly debt burden."
About Ameritech Financial
Ameritech Financial is a private company located in
Ameritech Financial is a member of the
Ameritech Financial prides itself on its exceptional customer service.
Contact
To learn more about Ameritech Financial, please contact:
Ameritech Financial
1-800-792-8621
[email protected]
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SOURCE Ameritech Financial
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