Streaming and video posting services have been making celebrities out of everyday people. But the cost of starting on the path to becoming an internet celebrity is often too great for many to bear. It may take a long time before most content creators are able to cover their living expenses through streaming or video creation. The expenses that come while someone chases this career, like student loans, may be expensive enough to make a borrower reconsider their dream. Ameritech Financial, a document preparation company, may be able to help content creators find the right repayment plan to help them continue their dream.
“Pursuing art and fame can be a difficult business,” said Tom Knickerbocker, executive vice president of Ameritech Financial. “If individuals dedicate themselves to a career of internet stardom, then they can mitigate some of the financial risks that come with that by joining the right student loan repayment plan.”
While many expenses that come from the web streaming or video content creator life might cause problems, student loans may not have to be a large a part of that problem. Ameritech Financial may be able to help content creators with their applications to get on the right income-driven repayment plan (IDR) to be able to sustainably handle their debts. Using an IDR, borrowers should be able to repay their student loans, whether they are grabbing a million views per video or just a few. If a content creator decides that his or her situation has changed, then that individual can request a recalculation of his or her payment before the next annual recertification is due. Using this plan, as long as the borrowers still have the passion to pursue their career, then they should be able to more easily make their monthly loan repayments.
Federal student loan borrowers can apply for an IDR at any time, but if they get confused about the options or what documentation to supply, it may help to reach out to a professional. Ameritech Financial is a private company not affiliated with the Department of Education or federal student loan servicing companies. The company specializes in helping borrowers understand IDRs and gather the necessary paperwork for the application process. Clients will even receive assistance each year for the required income and family size recertification.
“It might be hard to pursue a career in the arts or in entertainment and feel like there is any job security,” said Knickerbocker. “For each of our clients, we help them apply for a repayment plan that will hopefully work best for their financial situation and goals.”