EdDep Temporarily Halts Student Income Verification Process for Financial Assistance

To help low-income students gain access to financial help that would enable them to enroll in college, the Education Department made temporary changes. The changes aim to reduce the barriers mostly found in the income verification process, which makes it difficult for students with financial needs to qualify for financial aid.

Moreover, the Education Department has noted that enrollment numbers for higher education in colleges are down. Apparently, as a result of the still ongoing COVID-19 pandemic, about 200,000 students of color and from low-income households are encountering difficulty in providing the documentations required in the income verification process.

Rationale Behind the Temporary Suspension of Income Verification Process

Here’s the thing, the income documentation requirements are different for applicants whose household incomes qualify them for tuition fee assistance by way of Pell Grants. However, approval of the tuition fee assistance is subject to verification that requires submission of certain documents such as copies of income tax returns and other proofs of eligibility.

On the other hand, students whose household incomes do not qualify for Pell Grants are excluded from the income verification process. The exclusion makes it easier for this subset of students to easily access other forms of student financial aid.

The income verification system therefore disproportionately burdens low income students, particularly persons of color, considering that the pandemic has been tough on everyone. More so for students who come from low income families.

Richard Cordray, the COO od the Education Department’s Office for Federal Student Aid said it’s imperative for them to provide students with a straightforward approach to acquiring financial aid, to ensure that those greatly in need can carry on with their college enrollment.

Are Financial Aids & Student Loans Allowed to be Used for Stock Investments?

Student Investing in Stocks

 

When the student loan budget and financial help give you too much cash, you may find the notion to spend money on.

Is that legal?

No, you are not violating any laws if you utilize student loans or financial help to make investments.

However, does this mean that you need to?

You will find arguments in favor of investing extra student loan profits, and many contrary to it.

But generally, the dangers are higher — especially once you think about the brief time horizon you are going to need to make investments.

Prerequisites for Utilizing Student Loans

The principles for utilizing student loans for functions unrelated to instruction — especially those like investing in shares — are still something of a grey place.

Although there’s absolutely no particular prohibition on investment together with all the funds, you will find principles for how the funds have been utilized.

The particulars will depend on if your loan is either private or federal.

Federal student loan principles and legislation

In accordance with the U.S. Department of Education site, Federal Student Aid, national student loans may be used for the following functions:

“You might use the cash that you get just to cover education expenses in the college that given one of the loans.

Education costs consist of faculty fees such as lodging, room and board, fees, books, equipment, gear, determining child care costs, transport, and lease or cost of a computer.

Speak to someone in the financial aid office at your college if you want additional information.”

And we could see in the description:

The intended goal of national student loan profits would be just targeted on school-related expenses.

Even though there might be some wiggle room in the event the loan figures exceed the actual expenses, then there might be a few dangers related to utilizing the funds for functions like investing in shares.

The site does not go into detail in this respect, however, the possibility shouldn’t be fully disregarded.

In case the specific federal loan that you have communicates a subsidized rate of interest, it can be likely that the rate will be raised to an unsubsidized degree upon detection of your investment action.

Personal student loan principles

The principles on the usage of student loan funding from private sources, such as banks, will likely be decided by the specific institution where you are receiving funding.

While loan arrangements might be rather regular, certain provisions will be different from 1 lender to another.

As an instance, a loan arrangement from 1 lender might be loosely secured, opening the potential for utilizing funds for your investment. Another might be more special, such as a listing of prohibitions that could stretch to investments as well as other non-educational applications.

Before you consider investing in personal student loan financing, you should first carefully analyze every supply in your loan arrangement.

If this agreement involves a particular provision forbidding investing capital, or perhaps actions loosely associated, doing this can encourage retribution.

As an instance, the lender could reserve the right to call from the mortgage immediately upon detection of this abuse of capital.

The Way You Might End up with Excess Borrowed Funds

It could be a lot much easier to wind up with excessive student loan profits than you believe.

You use to borrow a specific quantity of money, according to printed costs connected with your school of presence.

However, these expenses may wind up being less than expected (having an equal probability of these being greater).

But if they’re lower, you will end up with surplus funds.

Among the most usual ways that occur is by using at-school living costs. While fees and tuition might be simpler to estimate exactly, board and room may differ.

By way of instance, you may forgo a typical meal program in favor of exercising your meal alternatives. You might even discover savings by buying used books on new ones. And there is always the chance of further funds coming from out of scholarships.

If you discover yourself with fresh loan increases, it will obviously give you increased funding flexibility. That may include things like investing in shares.

In concept:

You must consider returning the funds to the creditor, whether for national or private loans.

This may ultimately lower the quantity of indebtedness following graduation, in addition to an accumulation of attention between then and now.

 

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Why You May Consider Purchasing Student Loans

Regardless of any risks related to investing pupil loan proceeds from shares, there are definite benefits.

Deferred interest until the alliance

Federal student loans particularly accept payment of interest prior to graduation.

This offers you unobstructed usage of any surplus funds even though you’re still in college. You’re able to spend the cash without difficulty for making payments.

This alternative is typically more restricted with personal student loans, so which will necessitate a partial or complete payment of interest in college attendance.

Nevertheless, the fundamental notion is that you may invest your cash during the time of deferral.

“Comparatively” reduced Rate of Interest

Present rates on federal student loans vary from 5.05 percent to 7.6 percent (private student loan prices may vary significantly in either way).

Those might not be too low as prices of mortgages or auto loans, but they’re a great deal lower than credit cards.

In case your loan carries a rate of interest of 6 percent, and you’re able to put money into stocks in the historical average yield of 10 percent each year, you will have a net 4 percent return on investment every year.

Obtaining a jump start on investment

It is a common understanding that investing functions better than the sooner in life you begin.

If you’re able to get moving before you graduate from college and land your initial full-time occupation, you are going to be ahead of your peers.

Should you choose $50,000 in student loans, however, be able to save $2,000 annually for four decades, you will get $8,000 — and investment earnings — at the time you graduate. It is definitely not a chance, but it’s going to be a good start in your investment potential.

It is going to also provide you with the choice to prepay a few of your student loan debts upon graduation.

Why You Don’t Need to Invest in Student Loan Lending

Regardless of the possible advantages of investing pupil loan profits, the plan isn’t without danger. And they are substantial.

Poor investment operation

In the previous semester, we researched the advantage of having a greater rate of return in your investment in case you are paying interest on your accounts.

That is the positive outcome.

Nevertheless, it’s just possible you will earn less.

As an instance, while paying 6 percent on your loans, then you can just make 3% in your own investment actions.

Losing money in your investments

In the event you get into investing in a poor time on the current marketplace, it is possible you have a negative rate of return for your cash.

You might even find the entire worth of your investment drop from 10%, 20%, or even more. That’ll leave you in a much worse place than you’d be had you invested in the very first location.

In the utmost, you may wind up losing all of the money you tried to commit, possibly by being too aggressive or by simply making poor investments.

That would give you the worst result possible.

Bankruptcy is not a likely alternative

Unlike the majority of other sorts of debt,” it’s extremely difficult — almost impossible — to release student loan debt from the bankruptcy.

This agreement is bad enough in the event you’ve got a massive quantity of student loans and bad financial prospects upon graduation.

In the event the debt comprises investments that went sour, then you’re going to be made to honor obligations money that never supplied you with a significant benefit.

Put a different way:

Even when your investment actions perform badly, you will nevertheless be bound to create well about the student loan that you used to create investments.

You can endanger your education

This is a true extreme result, however, one that is highly possible yet.

In the event you get obsessed with investing pupil loan profits, you might end up reducing the quantity of money used for your own education.

This could lead to more time in college (requiring extra funding) or foregoing expenditures required for your schooling.

Things to do with Excessive Financial Aid

Are there uses for surplus student loan profits and financial help compared to investing?

Although it’s likely you may get some benefit by investing surplus profits, the dangers involved must make you correctly gun shy.

Some choices include:

Employing the funds for living the college life

You are likely to be in college for four decades, and you ought to need to create this as comfortable and effective as possible.

Applying funds for investment can decrease the total amount available for this purpose. It can even leave you fighting in some specific regions of your school life.

Place the surplus funds into investments that are safe

While it might not make sense to earn cash in a savings account or CD paying 2 percent if you are paying 6 percent on student loans, but at least there is zero possibility of losing cash.

Meanwhile, you’re going to be maintaining the choice to use the amount at all necessary, and at any moment.

It may work as a crisis fund for faculty, and it is almost always a great choice to get.

Repay the fresh funds

In a certain way, this approach will leave you prepared for cooperation.

Should you use less cash than you obtained in advance proceeds, you are going to decrease the total amount of student loan indebtedness.

As you need to start repaying any outstanding leader, and interest, when you graduate, your own post-college life is going to be better for returning to the money.

Last Ideas

Should you possess un-used student loan funding, and you are thinking of investing in them in the long run, carefully consider out the dangers. You might want to hire professional stockbrokers like AJ Bell (see https://www.asktraders.com/broker-reviews/aj-bell-youinvest/ to learn more about them) to handle your portfolio to avoid mismanagement.

There are surely those we discussed previously.

But there is also the potential that the rules on national student loans will become more unique and twist up later on.

If they do, you’ll end up wrapped in unapproved loan usage, with no simple way out.

Utilize student loan profits and financial help for what they’re intended. You will have tons of time to develop and construct your investment portfolio once you graduate.

 

Independent, Self-Supporting College Students Eligible To Receive $1.4K Stimulus Checks

The enacted $1.9 trillion relief package has entitled self- supporting students paying more than half of their expenses to receive $1,400 in stimulus checks. This denotes that those shouldering half or less than half of their college expenses are still classified as parent-dependent students and there fore not entitled to the stimulus checks. In such cases, parents or guardians whose income are below the threshold prescribed as a condition for eligibility will be entitled to the $1.4k stimulus relief.

Actually, parents or guardians deemed eligible to receive the stimulus check will receive upmto $1,400 for every dependent child, which they could spend the way they see fit.

What Other Benefits are Available to Independent, Self-Supporting Students?

An independent student is one who files his or her own income tax return annually, even if occasionally asking for financial assistance from his or her parents or guardians. Aside from the stimulus checks, the $1.9 trillion American Rescue Plan provides other measures that have direct financial impact on college such unemployment insurance and child tax credits.

Indirectly, both independent and dependent college students will benefit from the nearly $40 billion funds allocated to colleges and universities, as half of the funds will be set up as emergency financial aid for students, while the remaining will make way for student debt cancellation.

What Does the American Rescue Plan Mean for the Education Sector

As much as $170 billion of the American Rescue Plan will be allotted specifically to state colleges and universities. The funds will be doled out in the form of endowments to target schools and to a large number of Pell Grant recipients. The recipient schools will then award the endowments to students who have been struggling with their college education due to the pandemic. Students looking to be considered for thr endowments and other financial aid should submit their FAFSA for this school year, since college administrators will be leafing through FAFSA applications.

Hardship Loan Modification : A Financial Solution Available to Victims of Natural Disasters

The heavy flooding in New South Wales this month of March, left many Australians in financial hardship as a result of the damages to property and possessions. While there are financial assistance available to help flood victims recover from the disaster, they also need to seek solutions that would lessen the monthly payments due on their home mortgage and/or car loan, while still working toward financial recovery. One such solution is to negotiate for a hardship loan modification with the lender as a way to prevent one’s loan from going under water as well.

What is a Hardship Loan Modification?

In Australia, there are laws that enable consumers to seek relief from financial distress after sustaining damages caused by a natural calamity. Through a hardship loan modification arrangement, a consumer who purchased items on finance like a car, can negotiate with the loan provider for a temporary pause on payments, or for a reduction of monthly payments

The purpose of a hardship loan modification is to workout an affordable finance that will make monthly loan payment less difficult for the borrower. That way, while going through financial difficulties and working toward improving a financially troubled condition, a borrower will have more time to settle his loan at reduced payments; instead of seeing his loan balloon with the addition of past due interest and penalty charges.

The National Credit Code and the National Consumer Protection Act of 2009 are examples of laws that empower Australian consumers to negotiate for a hardship variation of a car loan. Moreover there are industry codes that require lenders to work with borrowers seeking for a hardship variation on their car loan.

While lenders cannot refuse to consider an application for a hardship loan modification, they have their own set of standards for determining if a borrower qualifies for approval of such a request. In most cases, lenders require financial documentation as proof to determine if the borrower has real need to have his financial obligation modified.

Some Examples of Hardship Loan Modifications to Negotiate with a Lender

The National Loans Australian gives some examples of hardships loan modifications that a car loan borrower may negotiate with a lending institution. As these are only examples, a lender could offer other options aside from the following:

Extension of the loan term in order to reduce the monthly payments but only for a short duration; along with schedules for gradual increases at some future date until such time that the arrears have been paid.

Reducing the monthly payments without changing the term of the loan, but with larger payments due on some future dates until an up-to-date payment status is achieved.

Hardship Loan Modification is Not the Same as a Loan Refinance

National Loans Australia points out that a hardship loan modification is different from a loan refinancing deal.

A refinance can be negotiated with another lender in case a borrower is not amenable to the modifications offered. Besides, banks and financing institutions usually require partial payment of the principal and interests as part of a refinance scheme. That way, only the remaining balance will go forward under new terms and conditions and with reduced amounts of monthly payments.

Education Institutions Receive Flexible Funding Under Biden Administration

Through the $1.9 T stimulus fund that Congress passed via a reconciliation process, Biden’s administration will allocate $35 billion to education institutions. President Biden will make good on his promise to the community colleges and the minority-serving institutions like the Historically Black Colleges and Universities (HBCU).

 

Additionally, part of the allocation includes supplementary support to students in the amount $1,700 in financial aid in meeting their college expenses. Actually, the $900 billion COVID-19 relief fund approved by the Trump administration last December includes funding for financial assistance to students currently enrolled in higher education levels.

December Coronavirus Relief Fund is Now Available

According to the Education Department the $21.2 billion relief included in the $900 billion COVID-19 relief is now available to higher education students seeking for financial assistance.

As opposed to the previous grants under the CARES ACT, the $21.2 billion fund qualifies more students in becoming eligible to receive emergency student grants. Even universities and colleges will have greater flexibility on how they could spend their respective grant money.

However, it is not sure whether undocumented students are now eligible since they have been disqualified to receive help under the previous administration.

ACE senior VP Terry Hartle and Justin Draeger, president of the NASFAA, under the previous CARES Act, undocumented students not eligible to receive student grants from the CARES Act. Based on their analysis of current guidelines released by the Education Department, there is still no mention whether undocumented students are qualified or not.

Under farmer Education Department Secretary, Betsy Devos, the Education Department insisted that undocumented students did not migrate legally. That being the case, they remain disqualified from receiving andy federal aid in accordance with the federal law.

Managing Student Finances

When it comes to sports betting, or gambling in general, it is imperative that you only register and play at trusted gambling sites. Bandar bola, for instance, is a trusted and credible online soccer gambling provider in the Asian sports betting market pulling in new bettors and keeping their existing ones.

While sports betting at sites like bandar bola could be very entertaining and potentially lucrative, having a good money management system or plan will ensure you don’t use funds that aren’t meant for gambling and that you stay within your gambling budget.

Besides making sure that you play at a credible and reliable getting site like bandar bola, a money management plan is equally important.

Managing Your Finances

For many of us, managing finances could be very complicated. However, we could educate ourselves on how to responsibly and prudently manage our finances to prevent possible mistakes, not only when we engage in gambling but also in our daily living. If we make this kind of mistakes, it could take years for us to recoup.

Many students seek for financial aid since getting a higher education could be quite expensive. But, efficiently managing our finances could very much be helpful which we should learn early on in our life. Students then need to have financial education or financial literacy in order to have a healthy and stable financial future. And when they decide to engage in gambling as a recreational activity, they could easily create a plan to manage their funds.

Below are some financial management tips to help not only students but anyone to manage finances well. Even bettors could implement some of these tips when managing personal and gambling funds.

  • Open an Account. Opening a bank account would allow you to have an easier time to manage your finances. Begin by with a checking account and onto a savings account.
  • Set Realistic Financial Your Goals. When you set a financial goal/s, you are making a wise move as it could be rewarding and worthwhile. Rather than, spending aimlessly, you have a clear goal and something to work for. You first have to determine your objects in order for you to be able to set a financial goal. Jot them down, make a plan, prioritize them and establish a milestone to help you reach them.
  • Create a Reasonable Budget. Creating a reasonable and realistic budget as well as strictly staying within budget will very much help you avoid spending on unnecessary things and avoid missing paying your bills and loans. Such mistakes could ruin your credit history which would affect your ability to take out a loan to buy a car or a home, to rent a house, or even to secure a job.
  • Spend Responsibly and sensibly. You might think that making small purchases is ok, but when you add them up, you’d be surprise how much you’ve actually spent. Cut down on small unnecessary purchases. Apart from you being able to save money, you also will be living a lifestyle that is healthier.

 

Greece to Utilize Online Casino Potential to Solve Financial Problems

Flag of Greece

 

Greece is seeking new businesses and hedging markets to help decrease its debt crisis and also stick to stipulations put forth within the nation’s bailout funding.

And today, after floating the concept of internet gaming this past year, the Greek government states it is moving ahead with legislation to permit Internet casinos.

Deputy Prime Minister Tryfon Alexiadis indicated the coming invoice will demand iGaming permits to be issued to qualified operators at a price of $3.3 million and capped at a minimal speed of $1 million yearly.

In complete, Greece quotes that earning casinos online can create supplementary earnings of around $550 million annually.

Great Expectations

The financial predictions and monetary advantage of iGaming being circulated by Ukrainian authorities may appear somewhat too optimistic. To achieve a half-billion bucks, not only do taxpayers will need to participate en masse, however, operators may also have to be enticed.

Alexiadis did not release details about how online gaming could be ordered and if it would let global or European Union acquaintances take part.

With today under 11 million taxpayers, which can be smaller than the inhabitants of Ohio, a 3.3 million entrance fee and ensured tax of $1 million from the year may not have gaming firms running towards throwing their cash from the bud.

That said, the financial meltdown in Greece has resulted in a gaming addiction outbreak. As stated by the Treatment Center for Dependent People in Athens, the normal age when an individual begins gaming is only 20, several five years younger than in 2010. Addicts seeking help also have improved 5 percent over precisely exactly the exact identical period of time.

 

ALSO READ: Trump Announced Multi-Million Dollar Aid Package For U.S. Farmers

 

Budget Bailout

Prime Minister Alexis Tsipras of this Syriza political party (also Called the Coalition of the Radical Left) reassumed the workplace in September, less than a month following his resignation.

Tsipras gets the apparently hopeless function of directing Greece from bankruptcy. As a result of the work of the former Finance Minister Yanis Varoufakis, a gifted economist whose experience is an in-game concept, Greece left its six-year downturn in 2014, however, the extrinsic debt stays and it continues to rise.

Varoufakis managed to pay back bailout loans in the European Union, International Monetary FundEuropean Central Bank throughout his almost long-term overseeing the nation’s finances.

Greece is currently in the middle of its own “Third Economic Adjustment Program” in the 3 associations. So far, the state has obtained $260 billion in bailout cash. The New Democracy (ND) party, the minority group at the Hellenic Parliament, is calling for more conservative principles to steer the financial recovery.

Last week, even the ND chosen Kyriakos Mitsotakis because it is chief. Mitsotakis stems from among Greece’s most influential and most powerful political families, his dad Konstantinos having previously served as the prime minister.

There are 75 members of those 300-seat Parliament that are a part of the ND party, a radical minority in contrast to the 144 chairs inhabited by Syriza politicians.

Mitsotakis intends to provide you a “dependable option for the nation’s government” to “generate growth and rejuvenation” in the upcoming calendar year.

Like how online casinos did to South Africa (Kiff Slots has a comprehensive comparison of the best online casinos for South Africans), online gaming in Greece will probably play a little part in that expected comeback.

 

Donations Pour In for Biden Transition as Trump Blocks Federal Funding

With Trump refusing to acknowledge defeat, the federal funds for Biden’s transition team remains inaccessible; but the President-elect appears well-prepared.

As opposed to Trump’s purpose of raising funds to be used mainly for settling unpaid obligations related to his election campaigns, the Biden-Harris team has been raising funds to use for the transition process. The main purpose of which is to proceed with the selection of a core group of people whom Biden will appoint as members of his administration starting January 20, 2021.

Right after Joe Biden and Kamala Harris were proclaimed as President-elect and Vice President-elect, they held Zoom events requesting for donations that will enable the Biden-transition team to move forward with the legal processes. That way, the newly elected president can have a smooth transition into office as President of the United States (POTUS).

As Trump continues with his self-serving action, the Biden-Harris team refuses to be cowed by the lame duck politician as doing so will only put the American people at a disadvantage. Technically, Donald Trump is already on AWOL as he has been spending most of his time at the golf course, whilst continuously proclaiming victory via tweets; still ignoring the worsening health crisis faced by the American public and the economic hardships brought on by the pandemic.

Trump-in-Denial Continues to Disregard the Presidential Transition Act of 1963

As it is, the General Services Administration under Trump is slowing down, if not blocking, the release of $9.9 million in transition funds due to the incoming Biden administration.

The release of the funds are actually mandated under the Presidential Transition Act of 1963, which directs the GSA to provide the President-elect and his transition team with facilities and services, including office space and equipment, as well as funds to use as payment of expenses related to traditional and legal transition procedures.

The Biden-Harris Fundraising Events Have Already Surpassed the Goal

According to the people handling the funds, the Biden-Harris transition team has collected more than their original goal of $7 million as of November 6. With the donations, they were able to employ legislative affairs groups that act as assistants to Biden nominees when they face confirmation hearings at the Senate.

One of Biden’s donors, who has been active in helping the Biden-Harris team attain the target goal of $7 million, is Ms. Penny Pritzker, who, according to reports, has a net worth of 2 billion dollars. Ms. Pritzker was the former Secretary of Commerce during Obama administration and a close relative of Illinois Governor J.B. Pritzker.

According to a November 06 update, the funds raised has already surpassed the $7 million mark, as donors who have contributed funds for the Biden-Harris transition team, include an assortment of media and public relations executives, lobbyists, Wall Street financiers and lobbyists.

Facts about government funding

Would you like to use state funding? For small and medium-sized enterprises (SMEs), for the self-employed, and for freelancers, there are several government funding programs that can be used to finance almost all commercial or entrepreneurial projects.

The entrepreneurs can choose between low-interest loans, indemnities, guarantees, subsidies, equity capital, and grants.  Aside from knowing about government funding, you may also check Forex broker reviews.

People who are suitable for this funding

  • Small and medium-sized companies
  • Self-employed people
  • Freelancer
  • Entrepreneurs and those who want to become one
  • Individuals who plan to become one of the current small businesses

The objective of the funding

The federal government, the federal states, and the EU provide funds and guarantees to support and strengthen medium-sized businesses in Europe. With this, the government agencies want to ensure that SMEs develop positively in the long term, strengthen their position in the market, and expand their competitiveness and form networks.

Government funding for many purposes

The state supports SMEs by co-financing operating resources, innovations, research projects, inventory increases, development costs for new products and processes, pre-financing for orders, and consolidations. Business growth or securing a location cost money, so the funds can be used for the following projects, among others:

  • Acquisition of a competitor or supplier, also as active participation in a company
  • Corporate succession
  • Purchase of a plot of land or commercial property including the development costs, possibly in addition to individual renovations
  • Construction costs for new construction, conversion, renovation, or renovation of a building
  • Office equipment and other furnishings for the business premises
  • Equipment of the company or shop
  • Construction and expansion of the warehouse
  • Operating resources so that ongoing business operations are guaranteed, if necessary refinancing of expensive current account obligations
  • Computers, printers, other hardware, and software,
  • Acquisition of machines, systems, and other equipment
  • Acquisition and, if necessary, individual conversion of company vehicles
  • Leasing costs for vehicles and machines
  • Expenditure on patents, licenses, and other intangible investments
  • Development and expansion of a broadband network, all digitization measures

Which industries are funded?

Traditionally, many craftsmen are among the SMEs. However, not only handicrafts are publicly funded, but also companies from trade, industry, and the service sector. Hotels, cafés, and restaurants as well as professions can also take part in one of the funding programs. Certain funding conditions apply to agricultural businesses and care facilities.

USDA Rectifies Exclusion of Specialty Crops From Coronavirus Relief

Last July, the USDA announced that more than 40 specialty crops previously excluded from the Coronavirus Food Assistance Program (CFAP), will become qualified. Finally, on August 11, the USDA released a complete list of more than 40 specialty farm commodities and has given advice that the department’s Farm Service Agency (FSA) is currently accepting applications up to September 11, 2020.

 

Specialty crop farmers whose CFAP applications were denied, have to file new applications. Crop producers who qualified to receive CFAP financial assistance based on qualified conditions , but seeking to acquire funding for specialty crops that have become eligible, do not have to file a new application. They only need to get in touch with their local FSA and request for the amendment of their application.

A complete list is available at the USDA’s FSA website, to which some examples of the specialty crops added include but are not limited to: alfalfa sprouts, almonds, artichokes, anise, apples, cilantro, collards, coriander, garlic, grapefruit, eggplant, guava, greens, dandelion, leeks, lemon, leeks, lettuce, onions and more.

Whereas before, the USDA approved CFAP applications for specialty crops only if the need for relief is due to the following:

The specialty crops had suffered a 5% or more decline in price, from mid-January to mid-April, due to the COVID-19 pandemic. Although applications based on this reason will still be considered, specialty crop producers may be requested to present bills of sale as proofs in support of such claims.

Specialty crop producers who suffered losses due to spoiled shipment after the pandemic had closed down their marketing channel. However, producers may be requested to submit documentation as proof of non-payment or obtain from the intended buyer a written explanation for the non-payment.

Specialty crop that were already for shipments but failed to leave the farms, or remained unharvested and unsold for lack of marketing channel, as a result of the COVID-19 lockdowns. However, the USDA said may request supporting documentations when assessing substantial claims on a cases-by-case basis.

What are Specialty Crops?

The oversight in granting direct payment was mainly due to the Specialty Crops Competitiveness Act of 2004 of the Farm Bill. to which the legal definition of specialty crops refers to “Fruits, vegetables, dried fruits, horticulture, floriculture, and nursery crops.

To be considered as specialty crops, the produce must have been cultivated, managed and used by individuals for purposes of producing food supplements, non-lab medicines and for aesthetic gratification or enhancement. When used as ingredients of processed products, the special substance must constitute more than 50% of the specialty crop in terms of weight without its added water content.

Part of the oversight was that majority of the specially crops are currently being cultivated, managed and sold by young Americans who became first generation farmers, as well as farmers of color. As a result, many were automatically excluded by the CFAP system.

Nonetheless, the matter was brought to the attention of the USDA by The National Young Farmers Coalition, which estimated that about three-quarters of the their members had also experienced lost sales after the COVID-19 measures resulted to closures of restaurants, specialty shops and farmers markets.

Trump Announced Multi-Million Dollar Aid Package For U.S. Farmers

The United States hopes to provide support to farmers in the midst of the corona crisis with nearly 20 billion U.S. dollars. In addition, food should be distributed to those in need.

 

The United States hopes to spend 19 billion US dollars to help support farmers in the midst of the corona catastrophe. This was said by President Donald Trump during a press conference at the White House. The government also extends financial aid to small business and entrepreneurs in response to businesses affected by the COVID-19 measures.

Agriculture Secretary Sonny Perdue mentioned that $16 billion will be used directly on farms. It is said that $3 billion is used to dairy products, meat, and other food commodities from farmers which will be provided to those in need.

In view of the advancement of the corona pandemic in the United States, Trump stated that he hopes the death toll in the country will remain below 100,000. The president stressed that every death is too much, he added: “At present, we may move to about 60,000, or maybe 65,000.”

Currently, according to data from Johns Hopkins University, the number of confirmed Sars-CoV-2 infections in the United States exceeds 692,000, and more than 36,700 people have died associated with Covid-19 thus far. The U.S. has surprisingly the highest number of infections and deaths in the world.

Trump is confident that his country will effectively combat the virus spread. Crucial improvement has been shown during the past days, and the “light at the end of the tunnel” will soon be seen. Trump said: “We did it right.” It managed to save the lives of millions of American citizens.

Trump Announced Guidelines To Bring US Back To Normal

Trump presented guidelines in April that will restore the United States to normal in three phases and slowly reopen the overall economy. Accordingly, starting from May, a moderate easing policy should be implemented first. Gatherings exceeding ten people need to be refrained. One example is, dining places, movie theaters and worship places could only operate if there is assurance of social distancing among visitors.

Vice President Mike Pence quoted experts saying that the United States has enough tests to meet the guidelines for the first phase.

Some states have answered to Trump’s plan and said that they wanted, to some extent, rest the current corona precautions. Governor Greg Abbott also added that shops in Texas will reopen soon. Governor Ron DeSantis of Florida opened stores to the communities, parks and beaches, as long as they can provide the required safety measures.

Trump has earlier expressed solidarity with anti-lock protesters on Twitter. Trump wrote on Twitter: “Free Michigan!” and “Free Minnesota!”-Governors Whitmer and Walz, both Democrats, have taken strict protective measures.

Final thoughts

At this time, COVID-19 proves to have a huge effect on forex trading and financial markets. Forex brokers and financial advisors said the impact will continue for a long period but are confident that all nations will be able to surpass this event and will be on the road to economic recovery.

Looking for good Forex brokers? Compare Forex brokers at wecomparebrokers to help you place your investments at the right place.

Coronavirus Forbearance of Student Loans

The U.S. Dept. of Education recently published information about student loan forbearance in response to the impact of the ongoing coronavirus crisis.

The Coronavirus and Forbearance is in connection with the Congress-approved CARES Act, signed into law by president Donald Trump last March 27, 2020 The law includes broad relief for borrowers who have been granted federal student loans. The CARES Act has automatically placed student borrowings under administrative forbearance, which means students and/or parents are allowed to temporarily stop making monthly payments on educational loans, up to September 30, 2020.

 

Although the CARES Act was enacted March 27, 2020, the date of effectivity for the suspension of payments was made retroactive from March 13, 2020.

Other Questions Raised in Connection with Student Loans and Financial Aid

Some students have put forward questions about the possibility of increasing the financial aid received, after their parents lost their jobs as a result of the coronavirus crisis.

In response to such queries, the U.S. Education Department recommends communicating with the financial aid office of the school. The department gives assurance that there are flexibility measures in place to enable students to stay in school and finish their course.

Generally, the recommendation is for students and/or parents to get in touch with schools via their website and inquire about the coronavirus-related guidance outlined for students, particularly with regard to student financial loans granted by private financial institutions.Under the forbearance scheme, students who will continue payment of their loans amid the health crisis, will not pay interest due on the loan.

The Education Department stated that although most schools transitioned to conducting classes through online systems, many continue to stay open in order to provide students not only answers to their questions but also assistance.

Why Financial Aid Becomes Difficult For Small Businesses

Have you been denied a loan? Don’t worry, it’s not yet the end of the line. There are still ways for you to take out the funds you need. Consider other financial institutions. While banks deny you a loan, there are others who can look beyond your financial situation. Talk to Non-traditional financial institutions like Loose Lending (https://looselending.com/).

What to do next if your application for a mortgage loan is denied

Six Reason Your Loan Application Is Rejected

1. Bad Personal Credit
Your personal credit rating has a huge impact on lending, even if your company has been in the market for a long time. This principle follows the logic that if you are not in control of your personal creditworthiness, you cannot guarantee it for your company. If poor personal creditworthiness prevents you from getting funding, you should review your creditworthiness and take steps to improve it.

2. Business Is Too Young
If your company is relatively young or a start-up, you probably don’t have a long-standing credit history. This is often an exclusion criterion for many banks that do not want to bear the increased risk due to requirements. In the case of young companies, in particular, banks pay attention to realistic forecasts of sales development or profitability, assuming understandable hypotheses.

3. Risk Like Industry
Many industries are often classified by banks as being more risky than others. A good example of this are transport companies where you can find a high failure rate. If your company is in one of these industries and you were therefore rejected for a bank loan, you should find out more about specialized lenders for your industry.

4. Insufficient Securities
A certain minimum of security is required for most forms of traditional financing. If the necessary collateral is insufficient, you will be dismissed as a small or young company and in particular as a freelancer in most cases. In this case, you should look for alternative methods, such as pre-financing your open customer invoices.

5. Problems with Capital Flow
For almost all lenders, capital flow is a key unit for lending. This is not just about whether you can cover your operating expenses, but also the repayment of your interest including a buffer. Strong variances in cash flow (e.g. due to seasonal factors) are often an exclusion criterion for most lenders. It is not for nothing that poor capital flow management is one of the most common reasons why companies fail.

If you have problems getting funding due to a lack of or a large variation in the flow of capital, you should take a closer look at how liquidity shortages can be overcome. On the one hand, you can try to turn your claims into cash faster and grant your customers shorter payment terms or warn you faster. In some cases, however, this does not make sense, since it can damage the relationship with your customers in the long term. In these cases, it makes sense to consider other options such as financing bills that do not affect customer relationships, but which will quickly help you overcome losing streaks.

6. Incomplete Credit Application and Documents
Unfortunately, incomplete documents are one of the most common reasons for rejecting loans for freelancers and small businesses. Missing or inadequate documents are often an automatic knock-out criterion for many banks because important and necessary background information is missing.

The most important supporting documents include a realistic business plan, income tax returns from the past 3-5 years, business account histories, as well as historical profit and loss accounts and balance sheets. In addition, contracts (e.g. leasing contracts), licenses and industry-specific documents can be requested.

Understanding Pre-Settlement Car Accident Loans

What’s a pre-settlement loan? What does “car accident loan” mean?

Car Accident Loan is a type of pre-settlement financing which is generally a loan for pending litigation. For the plaintiffs involved in the lawsuit, this is a safe cash loan, for those who don’t want to wait for the settlement of their case (to be paid). Litigation Finance offers litigation loans that show victims of car accidents paying bills and may have a little cash to keep than initially expected.

It’s quite simple to take out a car accident settlement loan. No credit checks, absolutely no needed documents to prove income, and no fees. Should you have hired an attorney to file a lawsuit and now need the money, you could be qualified for presettlement funds.

Plaintiffs who encounter financial issues in litigation often resort to pre-settlement funds when they end up short in cash or resources to meet their news. While litigation loans are becoming more popular, several people are not so familiar with the way they work.

Therefore when going over the facts about funding a car litigation case, refer to the matter as a car crash loan, that would make things easier.

But why will I be needing this type of pre-settlement loan?

Do you need any funds at this time? Regardless if to pay bills or any legal fees or perhaps you just want to have a little money cushion, a car crash loan could be a good option to consider. In addition, a car accident could result in personal injury or even death, regardless, this can lead to absence from work and thus no pay. Without money coming in, it’s making both ends meet could be a challenge.

If you want to relieve the pressure brought on by the incident, a pre-settlement loan could be the right decision for you.

Will I need a lawyer?

You will be needing a lawyer. At this point, you should, in fact, have one already.
Any pre-settlement financing firm only works if involved in an ongoing lawsuit. This means that you have filed a lawsuit, just waiting for the case to go to court.

Car Crash Loans are made for clients who not simply have attorneys but who will support the entire legal financing process. Plaintiffs will not be able to obtain a car accident loan and will not have a lawyer present, regardless of the amount of settlement they expect. This is to protect victims of accidents and litigation financing companies from investing in pending cases.

Your lawyer will provide the financing company with some information about your case in order to properly evaluate your claim and determine how much money you can borrow to settle your pending settlement. Should you have a strong case and that you currently need money, talk to your lawyer so that he or she understands that the matter is urgent. For sure, your legal counsel will understand your financial situation and assist you in your efforts to obtain a car accident loan.

Application? Funding the company?

It all seemed rather confusing. You don’t have to be confused. Pre-settlement financing is basically a cash advance loan for the amount you expect to settle before the lawsuit is finally resolved.

As far as applications are concerned, you may encounter simple, fairly simple documents. Typically, the information you need to fill in will be your basic contact information, the type of case you are suing, and the lawyer’s name and phone number. Application fees or credit checks should not be charged.

However, when it comes to financing a company, you may have plenty of options, which, of course, seem overwhelming. But keep in mind that while there are some unscrupulous financing companies out there, there are some that are really useful. Most reputable fund companies want you to get a fair deal; At first, it may seem like an overload of information, but asking the right questions – whether it’s your lawyer or an Internet search – can indicate that you’re focused on your choices.

The most important thing when choosing a funding company is to make sure they are a direct source of funding, rather than a broker sending your case to another private funding company. The best financing companies will be able to give you the right loans to meet your needs.

Isn’t the car crash lawsuit funding another thing that puts pressure on me?

Perhaps the biggest benefit of getting a car accident loan is a peace of mind. Worried about the details of the lawsuit can lead to seemingly endless stress. Coupled with economic pressures, it is also enough to instill unfathomable fears. Pre-settlement loans can explain the relief burden and give you breathing space.

Basic Requirements For Student Financial Aid Eligibility

Every business needs to be protected from certain risks to stay away from financial loss. To do this, businesses need a particular type of insurance depending on the kind of business environment they’re in. A hotel insurance, for instance, is a kind of insurance that’s purposely designed for hotels to meet their needs. Normally, it is written as a bundle or package policy, wherein a single policy encompasses numerous separate coverages. These individual coverages within a policy are frequently tailored for a specific situation of a hotel.

Businesses and entrepreneurs have a lot of options in terms of insuring their business as well as in securing funds to promote, improve, or expand their business. This is different for individuals who are still in school, especially students headed for college since getting a college education and getting through it could be very pricey.

Why Consider Financial Aid?

Most often, when parents and students think about college, they might feel a great deal of stress and pressure particularly on how to come up or where to get the needed money to afford tuition, lodging and accommodation, books, school supplies, as well as other school-related fees. It is known that college could be incredibly expensive, which is why increasingly more students rely on financial aid to somehow fill in the space between what they could manage to pay for and the price of college.

The procedure for applying for a financial aid isn’t that confusing so long as you are correctly educated about it and have all the basic requirements. Moreover, there are numerous funding alternatives that could make meeting the expense of a college education possible for just about any student and their parents.

The most usual available kinds of financial aids are grants, scholarships, and student loans. Grants and scholarships don’t have to be paid back. Loans, on the other hand, have to be paid back, typically after they’ve completed college. Each type of aid require different kinds of requirement so make sure you read up on this.

Basic Requirements For Federal Student Aid Eligibility

The basic requirement for federal student aid are on citizenship and requirements connected to the capacity of the student to benefit from a college education:

  • Must be citizen of the United States, a permanent resident or a qualified non-citizen
  • Should have an unexpired Social Security number, excluding students who are from the Freely Associated States
  • Should have a diploma in high school, an acknowledged equivalent of a diploma in high school such as a GED certificate, or have finished a curriculum in high school for home schooled students
  • Must be enrolled, or accepted to be enrolled, as a student in an qualified course or certificate program at a university or college eligible for a federal student aid.

FAFSA Filing Season is Now Open – The Importance of Filing as Early as Possible

The Free Application for Federal Student Aid or FAFSA filing season for the 2020-2021 school year, opened last October 01, 2019. Those intending to apply for financial aid to pay for college education should complete and submit their
FAFSA as early as possible.

Although the FAFSA filing cycle goes on for a period of 18 months from the October 01 starting date, completing an application sooner than the June 30, 2019 deadline is the best way to increase one’s chances of securing financial assistance.

First off, it should be clear that financial aid is college education money that does not have to be repaid. Although nearly all FAFSA applicants qualify for some form of financial help, most need-based aid and grants are awarded by states on a first-come-first-serve basis.

According to a recent report from Sallie Mae (SML Corp.), the private lending company that handles loans availed by college students, around eight (8) in every ten (10) American families seek for financial aid through scholarships and grants. Yet more than half of those families were constrained to take out student loans. This suggests that most need-based applicants had missed out on free financial aid offered by the federal government, by the state and/ or by different private sectors.

It is also important to know every state reserves the right to set a deadline that may be earlier than the federally prescribed end of the 18-month FAFSA season.

FAFSA State Deadlines for School Year 2020 – 2021

In some states like Alabama, Arizona, Colorado, Georgia, Hawaii, Nebraska, New Hampshire, New Mexico,Rhode Island, South Dakota, Utah, Virginia, Wisconsin and Wyoming, seekers of college education financial aid must first check with their state’s Federal Student Aid Administrator, as the deadline may be dependent on some other documents required by the state government.

Other states give advice for applicants to submit as early as possible after October 01, because the available financial grants are awarded on a first-come, first-served basis until depleted. The list includes Alaska, Arkansas, Illinois, Indiana, Kentucky, Nevada, North Carolina, North Dakota, Oklahoma, Oregon, South Carolina, Tennessee, Vermont and Washington.

Some U.S. regions specifically set a FAFSA deadline for priority considerations. This denotes that those who submitted after the deadline and after the priority applicants have been served, can still apply until the end of the FAFSA season. States that maintain deadlines for priority listing include Connecticut, District of Columbia, Idaho, Kansas, Missouri, Montana, Texas

States with Specific FAFSA Deadlines:

California — March 02, 2020 for most state financial aid programs:

Delaware — April 15, 2020, by midnight CT.

Florida — May 15, 2020 (date processed).

Iowa — July 1, 2020, by midnight CT.

Louisiana — July 1, 2021 (recommended).

Maine – May 1, 2020, by midnight CT.

Maryland – March 1, 2020, by midnight CT.

Michigan – March 1, 2020, by midnight CT.

Minnesota – 30 days after term starts, by midnight CT.

Mississippi – June 1, 2020, by midnight CT.

New Jersey – April 15, 2020, by midnight CT

New York – June 30, 2021, by midnight CT. Additional forms might be required.

Ohio – Oct. 1, 2020, by midnight CT.

Pennsylvania – Aug. 1, 2020, by midnight CT

Tennessee – Feb. 1, 2020.

West Virginia – March 1, 2020.

Senior Citizens Going Back to College, Consider Grants for Non-Traditional Students

About a decade ago, going back to college was a popular feature of senior citizen retirement plans. In 2007, the National Center for Education Statistics had tracked a steady increase in the number of older adults ranging in ages between 50 and 64, who went back to higher educational institutions to pursue a degree. About 625,000 seniors went back to college in 2007, which peaked to as many as 8.9 million by the year 2010.

However, the years thereafter saw the numbers started going on a continuous decline.

Presumably, the effects of the 2008-2009 Great Recession took a toll on the economic resources of older adults; making it impossible for the next wave of retirement-eligible seniors to include going back to college as a future plan.

Due to this, higher education authorities saw the need to focus on the needs of older college students. In the Hechinger Report published by a non-profit news organization that gives attention to inequality in education, Mark Kantrowitz, SVP and publisher of Edvisors.com said

”Most older adults assume that just because they are no longer 17 years old, or are not working, they do not qualify for financial aid,”

Financial Aid Available to Older Adults Seeking to Continue and Complete Higher Education

Senior citizens planning to go back to college should know that there are several financial aid packages available to them. Be it federal, state, or private grants, older adults should explore financial aid under the non-traditional students category.

Federal Grants – Information about federal grants can be accessed by filling out the Free Application for Federal Student Aid (FAFSA), which is the initial step to determining the federal grant that best suits one’s financial need.

State GrantsAll state governments receive federal funding in the form of block grants, or grant-in-aid in specific amounts. State and local authorities allocate them as grants for various programs; including providing support to both traditional and non-traditional students needing financial assistance.

Private Grants – Public and private colleges and universities are likewise important sources of financial aid available to older adults. Most of which are endowments coming from private individuals or foundations. Seniors can find out about current non-traditional educational grants by inquiring from the institution’s Financial Aid office.

Cashing Out the Equity Value of an Owned-Property as an Additional Source of Funding

Although educational grants can help older adults pay for college tuition, pursuing a degree gives rise to other expenses that could eat away money allotted for basic needs.

One way by which senior citizens can augment their economic resources is by cashing in on the value of their property. This can be done by taking out a loan against an owned-home, but without being burdened with monthly payments to settle the obligation.

An equity release though is available to older adults aged 55 or above who currently live in an owned-home. That is because the financing scheme works on the principle that a real estate usually appreciates in value.

The total amount due as payment for the cash borrowed can be deferred upon the sale of the property held as collateral. Selling transpires once the senior borrower passes away; or has entered an assisted living facility.

However senior citizens should take note of the costs they have to shoulder before they can close an equity release deal. As the expenditures include various fees such as legal, valuation, processing, consultation and/or completion fees, as well as building insurance, it would be best to get a hold of an equity release calculator cost determinator, before agreeing to a lender’s offer.

Student Financial Aid – Grants, Scholarships, Student Loans and Work-Study Programs

Companies like American Pride Legal Funding could arrange for immediate settlement loans for vehicular accidents. Such source of finance could be very helpful especially for individuals who don’t have enough or extra money to pay for unexpected expenditures. There are other lending companies who also offer loans for various intents like for paying off credit card debts or utility bills, home renovation, and more.

For students, especially those attending college, having a financial aid to help pay for their education is something that many would wish to have. Financial aid supports and make it possible for students to pursue their studies in a university, college or trade school, which is one of the most crucial and weight pillars of the system of higher education in America.

Various forms of financial aid for students like scholarships, grants, as well as loans with low interest rates allow individuals to attend and hopefully finish a higher education that will, all being well, direct to a fulfilling career and life.

Financial Aid – What is it?

College or university schooling, including vocational courses, offers a lot of students with stepping stones to gratifying and fulfilling job opportunities as well as heightens their chances for incomes that are higher, superior career satisfaction, and more content lives. However, millions of students in the US as well as across the globe find it arduous to meet the expense of their education by themselves.

Financial aid, in simple term, is money for college. It is a type of funding that is typically loaned or granted to students with the intention of taking up higher learning in a college or university or a vocational training or course. A financial aid could be from numerous various sources, which includes private organizations, schools, and governments. Several of these financial aids are considered gifts that don’t need repayment, while other types of student financial aid entail repayment frequently at low interest rates.

Types of Financial Aid for Students

Students could choose from various types of financial aids. In numerous circumstances, a college student could apply and be assisted by a combination of available financial aid types, depending on the college course you decide to pursue as well as if you are qualified or not for any merit- and/or financial aid that is based on need.

  • STUDENT GRANTS

It is a key type of financial aid in the federal level. Similarly, numerous state governments as well as private organizations bestow student grants. A student grant is gift in monetary form that need not be repaid and is generally bestowed to students based on their degree of financial need, GPA, field of study, and other factors.

  • SCHOLARSHIPS

Scholarships are greatly valued wherein a great number of organizations and institutions award them. Similar to grants, a scholarship is a monetary gift that don’t need to paid back. It is frequently given based on a student’s achievement whether academically, in athletics and sports or the arts. At times, scholarship is given as a prize for winning a competition, or based on other factors like area of study or race.

  • STUDENT LOANS

This a type of financial aid that majority of students get since most of them qualify. Student loans are meant to be repaid in fixed payments on a regular basis. It is at times sponsored by the government and are granted based on a student’s income and/or the income of the family, credit history, and other factors. A maximum loanable amount each year is usually set. Banks also offer student loans but it comes with a higher rate if interest.

  • PROGRAMS ON WORK-STUDY

By having a part-time job, this program allows a student to have an income while attending college. Typically, these part-time jobs are located within the campus or close to an organization or institution connected to a curse of study of the student. Students usually make use of their income to cover the expenses on books, transportation, and other expenditures for school needs.

Understanding the Importance of GPA: Why It Can Impact Your Financial Aid

GPA, which stands for for Grade Point Average is a standard method of measuring the academic achievement of a student in the U.S. for both secondary and college levels.

A satisfactory GPA in addition to other requirements asked for by an educational institution, presents a gauge of satisfactory academic performance. It is an important basis not only for for college admission but also in seeking financial aid to complete a course in higher education.

 

 

This denotes that a student who was able to secure financial assistance must strive to maintain a GPA considered as acceptable by institutions involved in awarding financial support. Otherwise, failure to maintain a GPA at the required satisfactory level can result to losing the financial support counted on as means of completing a college degree or course.

Ways to Avoid Losing College Financial Aid as a Result of Unsatisfactory GPA

The moment a student enrolls in college or university that facilitated the granting of a financial aid, it is important for that student to familiarize him or herself with the standards required by the institution. That is because standards of satisfactory progress depends on the policies outlined by the college or university in which a student is enrolled.

Another important matter to keep in mind is that the calculation of a student’s GPA at high school level, is different at college level. The A to F grading system, when given an equivalent score using a 4-point scale still depends on the number of units represented by each course.

When speaking of number of units, also known as course credits, it refers to the number of hours of lecture and homework devoted by a student every week to complete a subject during a school year or semester.

Number of units is usually three in every secondary level course. Yet this is not always the case in college courses, because course credits or number of units could vary even by a fraction. Variations in number of units or course credits therefore can affect a GPA that a student presumed as already satisfactory.

Knowing how to calculate one’s GPA can help in raising one’s awareness of whether he or she is on track, or falling below the standard required by the educational institution.

 

The most important action that can help a student maintain satisfactory academic progress is to communicate to financial aid officers, advisers and professors any problems encountered in relation to one’s academic endeavours.

As a rule, colleges and universities notify students if it seems they are at risk of failing to meet the satisfactory academic progress required by the school. That way, the students will have time to seek consultations on out-of-the ordinary problems that may be preventing a student from maintaining satisfactory academic performance that is necessary in keeping one’s financial aid intact.

Student Financial Aid : A Solution to Higher Education When Chosen Wisely

Receiving student financial aid is an important solution to problems faced by prospective college or university students. Yet more often than not, student loans also pose as additional stressors once financially indebted students actually enter life on campus. While they go through feelings of desolation by being away from home and family, students are also faced with difficulties in coping with new situations and with different kinds of people, and most of all, with tougher academic requirements.

Dr. Victor Schwartz of The Jed Foundation, a non-profit organization formed to provide protection and emotional health support to adolescents and young adults, opines that financial struggles affect different aspects of a student’s life on campus. Simple things such as food availability and housing security may be provided with solutions by taking on multiple jobs. As they struggle to balance those with academics, they are not getting enough rest or sleep. All of which leads to physical stress and mental anxiety.

Currently, several Democratic presidential candidates are promising education reforms regarding free college tuition, and of eliminating student debts altogether. In the meantime, since they are still political promises that may or may not be fulfilled, university and college students have to face the reality that their struggles continue.

Students Likely to be Hit with Mental Health Problems

Apparently, students coming from low income families who view college education as a way of improving their status in life are the most affected. Although student financial loans give them a chance to fulfill their aspirations, visions about a better future becomes blurred once the toll of financial and academic struggles affect their mental well being. After all, how they fare with their higher learning will affect their chances of landing higher-paying jobs once they complete their college education.

Often times, students who rely on a combination of academic scholarships and student loans become vulnerable to feelings of anxiety and depression. Not a few are aware that they are already experiencing mental health problems that require professional counselling. As they try to cope with both academic and financial struggles on their own, their anxiety about the future worsens, making them doubt altogether whether or not the future will be worth all the trouble they are currently going through.

Choosing the Right Educational Institution by Looking Into Those that Provide Sufficient and Proper Student Support Services

The Jed Foundation recommends that one way of alleviating and avoiding anxiety over student financial aid loans, is to choose from educational institutions wisely. The foundation forewarns that for-profit colleges are likely to have fewer mental health services to offer as support, when compared to private schools or colleges that are part of a large system that receives funding support.

Still, such may not always be the case. University Primetime, a popular source of higher education news gathered statistical data in analyzing the rising rates of depression in campuses. Based on their statistical analysis and survey, college news website released a list of educational institutions in which cases of depression among students are high.

The published list named the University of California, Berkeley, New York University, Cornell University, Duke University and the Pennsylvania State University, as the top five higher education institutions in which mental health issues are becoming prevalent. A problem that most universities and colleges must address by improving the mental health services made available to students.

Financial Aid Options for College Students

Clickfunnels trial is a great way to test out the superlative and suitable builders of sales funnel/landing page in the market which is an advantage for many entrepreneurs. If only such trials were possible for students entering college to dummy run possible financial aids, then they would get to really experience and understand which options are best for them.

Students could be overwhelmed in searching for ways and means to compensate for college tuition and other fees since there are various possibilities to choose from, from federal funding possibilities to what the college could offer to the student and to the less conventional ways of funding sources from the outside as well as maintaining equilibrium between work and academics.

Financial Aids for College Students

A crucial responsibility of a school counselor is to help students comprehend their options. Instead of centering on a single source of financial aid or funding over another, these students have to be familiar, exposed and open to different forms of funding. Students who are concerned about the low wages of their parentages will perhaps be eligible for several federal grants.

The office for financial aid at every college has knowledgeable and expert personnel to manage the financial aid programs as well as to counsel students together with their families on the opportunities for financial aid available to them.

With regards to getting a scholarship in college, students who are apprehensive about their unsatisfactory academic record must know that there are grants or scholarships that don’t heavily delve into grades, standardized test scores and GPA. Obtaining college funding or financial aid is imperative; however it’s likewise crucial for students to be aware of available possibilities and those that tailor to them personally.

Financial Aid – What is it?

Financial aid or funding lends a hand to students as well as their families to pay for their college fees. This aid covers scholastic expenses that include tuition and other fees, board and lodging, transportation, books and school necessities. There are a number of financial aid types which includes scholarships, loans and work-study opportunities. It may also incorporate a combination of the different financial aid types.

Federal Aid

Federal aid will forever be an imperative and substantial piece of the financial aid package of a student; however students who aren’t acquainted with the process of applying for this aid may find it unnerving and intimidating since it entails things like the income and savings of their parents. For students and/or parents applying for a Federal Student Aid for the first time and are in need of assistance in completing it, their counselors in high school and/or the financial aid officer of the intended college will work as terrific resources. It is vital to immediately complete an application for Federal Aid once it is available which is usually on the 1st of January of each year since a lot of colleges give out federal funding applications that are on a first-come, first-serve rule ’til slots are all filled up. Moreover, it is crucial to cautiously follow directions to avoid any delays and deferments in the process and development of the application and as the levels of funding may possibly change each year, it’s central for student applicants to be conscious of deadlines.

Student Loans

Although the idyllic package of financial aid is without any student loans, in actuality, that the majority of college students will require various student loans to finish their degrees in college. Educators and counselors must ensure that students comprehend the value of making every effort to ease off debts when departing their corresponding colleges as well as to recommend effective ways and means in avoiding debt inconvenience from spiraling. Edifying students regarding the various student loans and the most appropriate loan alternatives available to them will ultimately enable students to make wise decisions in financing their future.

Student Financial Assistance Used For Cryptocurrency Investments

It had been known that many college students are riding on the digital currency craze head first. It was reported that these college students had been using their student loans to invest on cryptocurrencies such as automated bitcoin trading.

Financial authorities who found out about this trend said that this could be very risky specifically to those who are taking out private student loans versus financial student aid, considering that private loans impose higher interest rates and non flexible repayment schemes.

Funds Intended For Living Expenses Were Invested

Student loan borrowers can do this because they can use the remaining of the student loan funds for “living expenses”. Most of the time, student borrowers get higher loans which is more than what they need for the school semester.

As soon as the college or university’s Financial Aid Office takes the required financial assistance to pay for the course, a refund check will be sent out to the student borrower. The student borrower on the other hand can use the refund check to cover for his or her living expenses.

In essence, there is no policy or procedure in place that ensures the student borrower spends the remaining money on college living costs. Consequently, the borrower can invest the money the way they want to. Obviously, for quite a few students, they think it is best to use this money to invest in Bitcoin, Ethereum, and many other virtual currencies.

Decline In Crypto Prices In 2018

In 2017, the hottest investment in the market are cryptocurrencies. This is especially true for young college students in America. That’s why many college borrowers are drawn in to invest thinking that this is a smart way to put their refund money.

Some students may have figured that they can pay off their student loan quickly with their crypto investment too considering that when bitcoins have started, digital money seem to have great returns.

However, in 2018, the days of massive price increases appear to be miles away. Digital currencies, particularly the giant cryptos, Ethereum and Bitcoin, have fallen sharply from record high prices, and daily price volatility is more consistent with common stock.

Should these students invest more wisely and carefully, they could have avoided the huge lost incurred in 2018. Diversified investments could have been a better investment path like investing a partial in crypto, then a few on high yield savings, and etc. However there could always be yet another explosion of growth in digital currency, and student borrowers will receive far from what they have invested. Or, they may quickly lose all the financial assistance money they have invested.

FAFSA4caster : Estimating Your Financial Aid Need and Eligibility

The FAFSA4caster is an online tool that high school students can use when anticipating their need for financial assistance upon entering college.

It is an online calculator provided by the Federal Student Aid Office to students such as those in junior or mid school level, and to parents who are not sure if they have the means to send their child to college. The FAFSA4caster is the next best tool to use to get a close enough estimate of a student’s eligibility for financial aid.

Knowing that the government calculates financial need by deducting the Expected Family Contribution (EFC) from the Cost of Attendance (COA) is a good start. However, having a near accurate estimation of the inputs to use for the formula, is better than making a wild guesstimate. Through the FAFSA4caster tool, an anticipating high school student or parent can obtain better estimates of the COA and EFC.

How does the FAFSA4caster Work?

The FAFSA4caster displays a worksheet that must be filled with the Cost of Attendance (COA), such as tuition fees, other educational expenses and living costs of the student’s chosen school. To get the information you need, go to the College Scorecard page of the U.S. DepEd.

A household’s potential financial contribution, on the other hand, can be estimated by providing answers to the FAFSA4caster questionnaire that determines financial capability of a potential college student. Here, it is important that all questions will be given answers even if based on near-enough guesses or estimates. Be ready with some personal records as some questions need answers based on personal documents such as bank statements or federal tax returns.

After which, the tool will display several sources of college funds, whilst indicating eligibility for federal financial aid like Pell Grant, Direct Subsidized or Direct Unsubsidized Loan, or Federal Work-Study program. If there are any state aid or college financial assistance that a student or parent considers as potential source of college funding, fill in the appropriate worksheet fields with the amounts.

Hitting the “Calculate” button will summarize the total anticipated College Attendance Cost, and the total potential financial aid. The resulting difference between those 2 sums will be Net Cost of Attending College. The Worksheet will also generate the Expected Family Contribution.

Since the goal is to determine a student’s financial need, apply the amounts generated by the FAFSA4caster as Total Cost of Attendance (COA) and Expected Family Contribution (EFC) for the government formula: COA – EFC = Student’s Financial Aid Need.

What Financial Assistance Can a Resident of New Zealand Receive?

If there’s one word to describe New Zealand, it is surreal. Because of the natural beauty that New Zealand offers and a booming economy, it’s no wonder why many people would like to visit New Zealand. Many seniors are willing to invest their entire retirement savings to live a simple life in New Zealand.

Through the years, New Zealand has always demonstrated great culture. In recent years, the humble nation has developed incredibly as shown in its booming economy. While poverty had been a problem in many countries, poverty seems to be the least of the nation’s problem. Kiwis are by nature caring and had always shown a strong dedication to social welfare. In fact, in 1898, New Zealand had been the first nation throughout the world that had introduced pensions for the elders.

A look at Financial Benefits provided by The Social Welfare in New Zealand

  • Financial assistance is provided to those who are unable to work due to an illness or an accident
  • Assistance with retirement savings
  • Support for elders which includes New Zealand superannuation or old age pension as well as other financial and practical support.
  • Companies are provided to provide maternity leave for expecting mothers
  • Housing and accommodation assistance
  • Assistance package for families and for those working for families

Note: Beneficiaries are natural born citizens and residents who have been leaving in New Zealand for at least two years.

New Zealand Job Seeker Assistance

The Jobseeker Support is offered to those who were made redundant, laid off, or simply not able to work due to an accident or illness. There are numerous scenarios to qualify for the Jobseeker Support program. The top qualification requires that the applicant should have been living in New Zealand for no less than two years since being a recognized citizen of the country.

Should you be eligible, you will additionally get a Community Services Card for medical expenses such as visiting a doctor or to purchase prescribed medications.

Should you lose the capability to work as a result of redundancy or illness and that you have children 18 or under, you will additionally get a family tax credit from Inland Revenue even while you’re on a benefit.

Should you lose the ability to work due to an injury resulting from an accident, you may qualify for the ACC or the Accident Compensation Corporation. You could receive up to 80% of the taxable income that you used to be made prior to your personal injury.

Indeed, New Zealand is among the nations that foresee the needs of the people. Apart from financial assistance that the government available to those duly qualified, anyone can also get a quick loan. If you Need Money Now, there are many ways to gain access to cash so long as you are more than 18 years of age.

Know the Basic Eligibility Criteria When Applying for a US Dep Ed Financial Student Aid via FAFSA

When making plans to apply for federal student aid, the first thing to learn about is the Free Application for Federal Student Aid or better known as FAFSA. This is a free form provided online by the U.S. Department of Education, which administers the different types of federal student aid offered by the government.

Create an FSA ID to Access the FAFSA

An applicant must first register with the Federal Student Aid (FSA) U.S DepEd website to create a password-protected user account. The FSA ID serves as a single signing-in identification when accessing the FAFSA document and other financial aid pages of the U.S. DepEd customer-facing website. Once an FSA ID account has been created, an applicant can now access and fill up the FAFSA form.

Basic Eligibility Requirements to Qualify for Financial Student Aid

In evaluating a FAFSA, the FSA US DepEd will look into the following information to determine if an applicant is eligible to receive Financial Student Aid.

Financial Need

A demonstration of financial need is necessary, when applying for a Direct Subsidized Loan that provides financial assistance to undergraduate students seeking to enroll in a college or career institution. Here, a student must specify the significant reason why his or her family cannot afford to pay for college or career education. Examples of reason include loss of a parent, or loss of employment either by the student or by the breadwinner of the family.

To further demonstrate one’s financial incapacity, statements must include descriptions of the student’s job or of a parent’s employment, about schooling of other siblings, and discussion of any unexpected expenses of the family. All of which will make clear the direct impact of the cost of higher learning on the family’s overall income. Take note not to make false statements because any that has been verified as falsehood is punishable.

U.S. Citizenship or Eligibility as Non-Citizen Residing in the U.S.

A birth certificate showing that the applicant is a natural born U.S. citizen suffices as proof of U.S. citizenship.

On the other, a non-citizen may be documented by the U.S. Citizenship and Immigration Services or USCIS, by way of a “green card” such as a Resident Card, Resident Alien Card or Alien Registration Receipt Card. Other non-citizen types like refugees, asylum seekers or other legally recognized entrants will have either an Arrival-Departure Record (I-94), or a T-Visa, and a certification letter issued to them by the USCIS as proof of approved entry.

Other Basic Requirements

* Valid Social Security Card/Number (not applicable to nationals of Marshall Islands, Micronesia, or Palau).

* High school diploma or a General Educational Development (GED) certificate;

* Male applicants aged 18 to 25 must be registered with Selective Service;

* Has enrolled or already accepted as enrollee for an eligible degree or certificate program and must be enrolled at least half-time as a regular student.

* Has maintained satisfactory academic performance in college or career institute.

* Must be able to certify the portion of the FAFSA stating that he or she (student) is not in default of any federal student loan or has no financial obligation under the federal student grant.

Needless to say, inability to satisfy or complete any of the basic eligibility requirements stalls the processing of an application for financial student aid at the very onset.