35 Burst results for "A. Loan"
Stephanie Murphy on Capitol Riot Hearing and "Childish" Partisan Attacks
"January six attack on the U. S. Capitol. Congresswoman Stephanie Murphy is one of the seven Democrats on the panel. And the loan Floridian. January six was an attack on our democracy. It was an attack on the peaceful transfer of power, and it was an attack on this Capitol building. It was also an attack on real people. The panel is hearing testimony from four police officers who defended the building during the riot. A government agents he in central Florida is issuing a vaccine mandate the Orange County tax collectors
YAAS Founder Morgan Zegers on How Radical Left Leads to Regress
"Tell us. What is your message to your fellow americans who aren't the indoctrinated drones but who may be realized that mayo sees not right We have. I'm not gonna even play now but the the cut. We used during the week where. She blamed america for the plight of the cubans under communism. What is your message to those americans and especially those who may want to do something but who feel intimidated of course well for me. I always tell my peers to not let yourself be victimized. Don't fall for the messaging that they're telling you that you will always be oppressed for me. You mentioned my freedom flags. I was in college. And i had a large amount of student debt from my years. Getting my bachelor's degree. And so i learned what an flags and i paid off my student loans many years ago and now it's my full time Small business and so if you could zegers freedom flag shop you guys can all get one across the country. Were so proud of them but right now. They're teaching young people that they will always be a victim in that. We cannot succeed without government's. Help what i want to remind everybody out there. As we see the rise of the radical left for centuries americans have stood together as conservatives and liberals on a basis of classical liberalism and capitalism and it was those two core principles and specifically economic freedom. That really drove this country to the actual progress that we're achieving these days the radical left. That's on the rise will promise progress but history has shown their ideas when implemented bring regress. And if you want to help people give them economic power empower them to take care of themselves in their lives and so really. This is all about control. Money is power and when the people have the money when the people can control their own business and small businesses specifically we're going to be able to dominate and get that american dream back.
New Aid Coming for Mortgage Borrowers at Risk of Foreclosure
"Needed help for homeowners today, people who are behind on their mortgage or those dealing with reduced income over the pandemic year. ABC's Karen Travers, reports the Biden administration Friday announcing new actions to prevent foreclosures, expanding programs for borrowers who are behind on paying their mortgages and to those who may be earning less because of the covid 19 pandemic. This follows the administration's June 24th extension of the eviction moratorium on federally backed mortgages. Through the end of July. The administration has said this would be the final extension of that CDC moratorium. But today's moves for those with federally guaranteed mortgages or federal housing Administration loans will allow some Americans to extend their mortgages and lock in lower monthly principal and interest payments. Karen Travers, ABC NEWS
Tourism Is Back but Businesses Are Overwhelmed With Insufficient Staffing
"Good evening thank you for joining us. The people who were cooped up at home last summer have been ear to go on vacations this year but some businesses which were eager for the crowds are struggling. Now we welcome. Abc's deirdre bolton to nightline with this report on the worker shortage the morning july signing on the heels of a worldwide lockdown millions are flocking to the beach but with all that kant's up demand. There is a downside. Businesses are over wealth. It's been different. I've seen things. I've never thought i would see from my life. We are facing a shortage in every industry talked to any of the businesses in downtown with any of the beach areas during the exact same scenario. You don't have the help. Benjamin gray has called this stretch along the atlantic home his entire life working at the bell in and spine rehoboth beach delaware for the last seven years. Nothing compares to the stress. He sees this summer. we've seen unprecedented occupancy levels. The tourism industry in the past year loan has skyrocketed. What is it. Ben like then for you to meet demands. It's now finding the staff to be able to make vets to make the drinks to check people in to check people out to make sure that we have enough people here to take care of the occupancy levels that we're experiencing
How Your Own Experiences Can Inspire Others
"If you want to inspire of us looked yourself and ask your getting out the whole process of content creation from my side. I think if every new initiative experimental can learn from sharing why discovers. I'd give a loan when you immersing yourself in something it helps to have a platform from which you can aerate and explain your own trial era. Success and understanding. The reason i do this is to give myself a clear. Review of the present for instance when we started our zoom shows with you the media online in march twenty twenty i believe we could create productions not just weapon us and as the pandemic tightened its grip those who are already creating content found. They just keep going well. When we launched you the media in bristol. we filled pob. And how did that happen because initially when the event was first announced we had to six people book on and we found ourselves having to cancel the event another reason is that as we delivered the first hybrid event in july. I shed how i thought. This format could work for businesses. Would you block or share audio or video. It's not just about attracting clicks shares and engagement and achieving an uptick in awareness and reach. It's also a way of sharing your own learning to check back in with yourself and help abbas benefit from that. It's not about sharing successes around product dates or self congratulatory messages of client or award. Wins thinking through taking a scrapbook approach of frigging figuring things out in plain sight having a place document but also knowing that you're not always going to get it right is important. It doesn't always have to be about who is reading watching listening. But your own goal of creating and charting break. Foods and realizations
Shelly Barney Created the Insta Run Club so No Runner Feels Alone
"Think it's neat because there's always that chance. I have a lot of encouragement. Like i have people that you know. I'm surrounded by that. Cheer me on in this endeavor of running later in life and encouraged me. But there's always that chance that there's somebody out there that doesn't have you know that that opportunity to have others around them and to encourage them on and i think in this space you've created that for people so i i just think that is such an incredible opportunity that you have given to others to be able to encourage others to share them on when normally maybe wouldn't path that's a huge part of it. You're saying that a care up you tired of it because running and somebody that i. I run a loan right. I knew a lot of runs solo. Because i just i'm not around. I don't live close enough with other runners or you know i. I don't right now. In so i do a lot of rain on my own money ten. He'll berry. I don't want people to include four but quite right and so it's one of those things where you're running alone but you don't have to be you know you get running. You can go tell your community what you just did and how people cheer you on. I think that's the most important part in that other very motivating for you know a lot of people as well. So that's all that's been really important that making sure everyone feels supported to especially depend on and now coming out of it
Bank of America Struggles With Tepid Loan Income as Consumers Shun Debt
"As because consumers had plenty of cash from government stimulus programs and avoided taking on new loans, loans and leases in the consumer banking unit fell 12% from last year. Even so, CEO Brian Moynihan told us that he sees organic growth re emerging. While vaccination campaigns are making some progress, the challenges we've been fighting a war on the virus and society, we've we we are winning, but it ebbs and flows and if we can keep the virus under control, I think you're hearing it never raised commentary were set up for a strong growth rate. This year in the aggregate and strong next couple quarters. Economies as big the Fed is in the U. S is very accommodating as central banks around the world and the next year's particularly grow more. Bank of America's trading revenue fell 14% last quarter and in terms of the performance in the markets today B of a was down 2.5%. All right, when we got this slew of economic data from China with GDP, headlining it, and we're likely to see the growth
Q&A: Should I Invest in Real Estate or Pay Off Student Loans?
"Question comes from my instagram. Actually it was a dm. I received from. Benjamin says hey actually recent follower of real estate rookie podcast in love the content you guys produce aim just getting my feet wet learning about the real estate mental game. I know you've mentioned subscribing to the dave ramsey school of thought in some ways on the podcast. I wanted to get your thoughts on the idea of starting investing in properties while you still have a fairly substantial amount on student loan debt. My wife and i are both in the medical field and have good salaries. But i don't want to wait another five to seven years until i can pay off. Student loan debt to get involved with passive cash for rentals. Just wanted to get your thoughts on the matter. Thanks what do you think. Tony rose name or the ben been. This is a deeply kind of personal decision to make because the idea of debts and investing. It's kind of a kind of a polarizing topic. I can share with you. What my story was we. In comparison to the income that we have our w jobs. Our debt was a relatively small percentage. In comparison to the amount of money that we had saved up we could have easily paid off all of our debts with the money that we had our savings account and in stock market. We chose to focus on the high interest debt so we paid off most of our credit card debt. We decided to leave our car loans and our student loan debt because both of those relatively low interest rates where i like you know i think our car payments like three percent or something like that so for us. We made the decision that we could either pay off that debt it's only costing us three percent and interest or we could use those funds to garden bind restaurant properties do four or five ten x that so we made the decision. Say okay. we're comfortable with the small amount of debt because again in relation to our total income. It's not ruining us financially. Rats not preventing us for moving forward but we want to put this morning to work and our investments. I think if we were in a position where we didn't have a good amount of money saved up or our debt load in relation to our income was really tight right. There wasn't a lot of space there. The maybe i would put a little bit more focused on paying down that debt. So i think it'd be really personal. Decision been based on a lot of factors that. Unless you're sitting down together really getting deepens have bins personal finances might be hard to give you a solid answer.
The U.S. Capitol Police Are Beefing up Security
"To bolster security as NPR's Barbra's front reports. The effort comes exactly six months after the deadly insurrection at the Capitol, the list of improvements the forces enacting in the aftermath of the attack on January 6th is long. They include enhanced protection for lawmakers increased staffing in the dignitary protection division. And the opening of regional field offices in California and Florida to investigate threats to lawmakers. New changes also include additional riot training for the force and the procurement of more equipment such as helmets and shields, along with state of the art campus surveillance technology made possible via a loan from the Department of Defense. The department has also focused on supporting members of the force, providing expanded wellness services for members, including trauma. Informed counselors. Barbara Sprint. NPR NEWS
Tamsen Webster on How to Make Your Big Ideas Irresistible
"Tamsin. Welcome to the unmistakable creative. Thanks for taking the time to join us. I am delighted to be back. Thank you so much for having me. Yeah absolutely you know. As i always say anytime we have somebody back a second time to me. That just says a whole lot. About what an amazing guests. They were the first time you have a new book out finding your red bed which we will get into but as you know from previous conversations. That's definitely not where. We're going to start so i thought we'd start by asking you. What is one of the most important things that you learned from one or both of your parents that have influenced shaped who you've become in what you ended up doing with your life All right so. I saved from my mother who is an anthropologist to observe what people do and to be curious about why they do it. I would say that's definitely from my mother for my father. Who definitely who's a system sneakers. He's a submariner. He was spent twenty years in the navy He he's very focused on on a two things. I think that i've picked up from him. One is have a way to do it and be clear about it And the second would be. Father is alone. Introver- assisi the loan extrovert and our family And so i think that from him. I have learned to appreciate the a joy in the unexpected serendipity that can come from being just talking to people being curious about them so my mother's very much of a quiet observer and my father is a as an engaged interviewer of fee by is probably a good way to think about it and i think there is value in both and so I i can see the lines of both of those influences in in everything that i do
Q&A: How to Fund Rehabs and Renovations
"Today's question comes from shanty long and shanties question is we're about to close in a duplex in. It's going to need anywhere between six thousand to ten thousand dollars in repairs. What are some options for funding this rehab so ash. I'll let you go first narconon chime in with my thoughts afterwards. Okay the first thing. I thought of when i was reviewing this question was credit cards. So what did you say. It was six to ten thousand. They're looking to spend with that amount. You could easily get a credit card. Usually for that amount of money and there are so many credit cards out there that will do zero percent interest. So what this means. Is you start buying materials supplies with the credit card at lowe's home depot wherever your hardware store is to get your materials or even online new use credit card to pay and the credit card will usually give you zero percent interest so all you have to do is make a minimum payment every month which can be if you have ten thousand dollars on their. Depending on the interest rate you could probably be paying ninety dollars a month is the minimum payment towards the card. So what your strategy here is to get a card that has that zero percent interest for as long as you're going to be doing the rehab and until you can refinance so for example. Some of the cards will do it for eighteen months. And hopefully your rehab and your refinances completed by then so that you can pay off the credit card before you're actually charged interest on those payments and you're just making that minimum payment which is actually going towards your balance and not towards interest. So i think that is one of the greatest tools that you can actually use and you can find the zero percent interest credit cards on the business side or in your personal name to. Yeah no. that's great advice actually and especially at that dollar amount right sixty thousand you said. It should be not too big of an obstacle for most people to get approved for for something around that loan limit. I think something else to consider and shaun tait didn't really share. What the potential rv or the purchase price of this property is but i mean at six thousand dollars you could also try and borrow money from a family member from a friend and say hey. Loan me ten thousand dollars. I'm gonna fix up. This property wants it's done. I'm going to be able to pull out forty thousand dollars. Whatever the number is. And then. I'll be able to give you a return on your money
Lumber Prices Dive More Than 40% in June, Biggest Monthly Drop on Record
"Prices are up like four hundred percents as compared to eighteen months ago. You have a shortage of sawmills. You've shortage of raw. Lumber mills have been shut down due to cova all these other things that pile up and at the same time. You've had this increasing demand for lumber because people want bigger homes. People wanna do home renovations all these things. And so you've had this disparity between supply and demand which leads to increased prices. Well actually over the last sixty days. Lumber prices have come down about forty percent from their peak at one point. Lumber prices were up to sixteen hundred dollars thousand board feet which was a record more expensive price than ever actually down now as of i think last week closed at like nine hundred dollars for a thousand board feet now the two by fours the plywood everything you see at home depot still going to be more expensive than what it might have been three or four years ago but we are seeing that come down. We're seeing supply pick back up With help with people renovating their homes help with new builds It's just kind of really been just a short term problem. I don't think personally the prices are gonna go back to pre pandemic levels because that's not the way inflation works but it's kind of a nice little relief that we're seeing For some the home builders some of the people that are thinking about remodeling some of the people are thinking about buying a new home and wondering what's going to happen with prices of construction in the future. Come down a little bit. Which is i think a good sign. Yeah thank goodness i mean. That's that's needed. And i mean prices can't go forever road they want them to. So that is great especially since we have not been tori and lots of
Can We Bring Together The On & Offline Experience?
"Can we integrate the offline and online experience creating an event that simaltaneously delivered for an in person and online audience presents. A huge opportunity. But it doesn't come about her awesome plenty of logistics that need meticulous working out a hybrid online and offline motto. I up events to bigger. I'm more diverse audiences. The one she may have got used to one online was the only way in a return to those in-person one. she's missed out the loan months. The pandemic restrictions. It's a new space of many. If you get it right it opens up enough. A whole world of possibilities. Those who move their events online and twenty twenty started off slowly included and find them momentum in time looking at integration by online and offline size as we move forward could help audiences and organizes it alike. Create more impact. That's a good to pass. They can help us find out places in this hybrid space for anyone who was built something online in the past year. Beat podcast writing or video or to live at any form of event from a webinar to virtual conference. The times we find ourselves in now are full of potential. Harvard delivery is an area is ripe for innovation as you can bring people together in one live space no matter where they are or how they prefer to experience an event. If you put your mind to it you can let your imagination run. Wild and is currently empty field audiences a slightly different from how they were pre covid. For instance. there are several differences in how learning happens from personal experience. This although subtle is significant
Digital Redlining and Why Some People Are Stuck With Slow Internet
"At the digital divide all year today. I want to discuss how today's broadband deployment mirrors illegal mortgage redlining practices for the past. Why would see similar devastating consequences down the line saying this. Is your daily charge here discussed. This problem is team at senior reporter. Sharp ticket welcome sharp. Thanks for having me. So i offer a listeners. What is redlining it's a. It's obviously a long standing. Practice has been around for a while but folks may not necessarily know what it is and the impact it's had writing is kind of a term that we've heard but a lot of people don't necessarily really remember realize what it was so it was a practice by banks in the thirties basically to map neighborhoods in the country. And say this is a good bet for mortgage loan. This is a bad bet And it literally redlined areas that had huge communities of black african americans so it was saying that anybody who lives in these areas are a bad bet Not worth making a home loan and so people who lived in those areas couldn't get home runs they couldn't they couldn't homes. They couldn't get insurance They basically were cut out from this really way to generate wealth and paths that wealth onto future generations. So what we've seen is that you know it's really had huge impacts on the black community in the united states so only about forty two percent of black people in houses versus about two percent of white americans and the medium black household only holds about one eighth the wealth of a white household and then also in these neighborhoods there's lower life expense expectancy Higher rates of chronic diseases worse impacts from covid nineteen. So it's really just something that you know. It happened in the thirties and the forties is kind of its heyday But it still having implications. Today
The Post-Pandemic Economy
"Let me take a particular piece of that small businesses and just talk about how we help power the potential of small businesses and. I think. Chris certainly apparent to everybody. Who's read the paper in the last year. That small businesses were really really it hard during this pandemic and i think we have done a couple of things that we've tried to do to really support them in this the most powerful of which was the paycheck protection program where we had literally thousands of our people working nearly twenty four seven for months at a time to make sure that we could help companies payroll and all the other things they need to do to get through this. We're really honored to be able to help. More than hundred sixty five thousand businesses more than one point three million people who work at those businesses and we talked about the fact that if you look around your neighborhood there was like some family that lived in your neighborhood that we were able to help and that was really powerful. But we're now at different stage with small businesses. We'v hopefully gotten through the worst and what we're finding a chris. There's a lot of desire now to grow businesses and that has to do with not only. How do you get a loan or a credit card to grow your business. But how do we make it easy for you because if you're a small business owner most of them didn't get into small businesses because they wanted to be associated with banking. They got into small business because they had a passion for their business. And we're trying now as hard as we can to make everything really simple easy payments easy Easy banking products so just integrates naturally into what we do into what they do so that hopefully they can grow their business and focus on the things really important to them what we're seeing small businesses is they got through the worst there now excited about growth and they have customers generally speaking coming in
How To Figure Out Your Child's Love Languages
"It is important for us to know what our kids love languages. Because that's the currency in which they operate right but we also know that with children. It can change like their language changes right from for mommy to bra. Their love languages can change as they grow and adapt. So how can you in. Maybe if you know terror how can how can a mother kind of like figure out what their kids love languages. What are what are some things that you've done. I think for me what i've done. I've done this even with my husband. 'cause i don't know if they would sit down and do the quiz but anyway what i looked for are the cues. I see either a one or both of them gets upset with me about something and the thing that they asked me to do. Different is usually tied to eleve- language like gauge gets upset with me. And it's because you know we never do anything you know what i mean. Then i'm like okay. He's looking for some quality time here or my husband gets upset. And he's like you never we know. Give me a hug when i get home. And i'm like okay. So he's looking for so. I often look for it in those times. And also when i do things that lights them up early for both ways a they're mad at me and they tell me straight up what they need i go. Oh that's this or be. They are really excited. Because i did something i'm like. Oh they really like this. So that's kind of how. I look for the queues. A lot of times we as parents or human beings you tend to project what you want on other. Yes in so. I think that for me. That's what makes it most challenging having a partner and also a child who are different than me with the way that they receive love. Yes because i share with people. Like this is what i would want. I would want a new car right tonight. That would totally set me on christmas. I'll be like. Oh yeah. I don't i don't want hugs. I went gipson. I want you to do the laundry for me. Like you said. Riaa so one of the things for me that i need to do. Even with other members of family and friends that i love dearly is understand that it's important to love the way that that person receives loans Not the way that you tend to receive
Experimental Photography with Jim Zuckerman
"Jim how you doing today. I'm great scott. Thanks for inviting me. It is my pleasure jim. I am impressed. I you look at everybody. You got to go to the website. That's just one of the rules here. These days i gotta go to the website and look at jim. Zuckerman dot com. It's j i. M z u c k e r dot com. If it's possible to have a broad scope to somebody's work. You've got every single kind of photography that i think is possible is showing up in your work and it is dynamic. It's colorful it's got a lot of real energy behind it. So i got ask you some reading your website and one of the first things i learned. Is that photography was not always your passion. You were actually studying to be a doctor. And how do you get from wanting to be a doctor to photography well. My sister's boyfriend introduced me to the dark room. And i just found that so exciting. He loaned me his camera. Before i had one showed me how to use it. And i started taking pictures with it and it was just blew. My mind was so exciting. And i thought to myself i have got to do this. And so i made the switch much to the dismay of my family but as you can imagine but i never regretted it net. Not not for a minute and i love photography from the beginning and i still do still have the passion. Oh very cool. Did you remember what it was that turns john with those early experiences. What is it about photography that said this has got a connection to something deep for you. It's a good question. i'm not sure if it was any one particular moment. But i can't remember something that made me want to do special effects and and i did i special effects for ten years. I kind of disdained normal photography in the summer of sixty nine. I was working in pearl harbor. It was a summer job between semesters working on old world war two dry docks maintaining them and in one of the dry docks. I found a piece of broken red glass. It was from an old darkroom from the forties. And i was just experimenting with color infrared film and i realized that if you shoot through the glass like a filter you get one set of colors and if you reflect in the glass you get another set of color so you could. In essence create a double exposure
Interview With Bridget Frey, CTO Redfin
"So much for joining us on the restless ones. I am very pleased to have you. Here is my guest. Thanks for having me Beer and i love to start off these conversations by learning a little bit more about the people. I'm speaking with and so i'm very curious. What was it that sparked your love of technology. Wasn't an apple computer it was you. Might you might know that story a little bit about it. So my dad isn't appliance sales repairman. And when i was five he showed up at her house with this big box and put it in. The kitchen in inside was apple. Two years early apple computer and to him. It was really just like dishwasher where you get a manual read instructions you figure out how to use it and so my earliest experiences with -nology peter was just learning to code. That's fantastic yeah. I also was t-the apple to myself. He remember the the hello world and you know ten print. I go is. It is kinda complicated since then. Once once i got beyond the basic programming language things got out of my wheelhouse pretty quickly. But from what i understand. You really went down that pathway wholeheartedly. Your love was sparked early on. But when did you decide that this is something i actually want study. By the time. I got to high school. I actually was really fortunate that we had a computer science class and a clo- that were operating in my high school now. It's meeting more comment. But i also had as email computer science teacher who was really inspirational to me and so i think that those experiences helped to make me feel. I belong to in the tech industry at these formative years. And i also i was. I loved the idea of using our loans in technology to solve problems in so those things really crystallized at a time out of school i'm already
"a. loan" Discussed on Reduce Debt Increase Wealth
"App please. Rate and review this podcast for all you non apple users you can download i tunes on a windows machine and go to the upper left hand corner. Select podcasts do a search reduce debt increase. Well you can then rate and reviewed the podcast and also follow the podcast. I appreciate any feedback. That i make yet. So you listen to podcasts. And maybe something in air applies to you but you need to still go and do the paperwork. You're a schoolteacher. In a low income full you work for a government agency whether federal state city county township or tribal entity or nonprofit organization. He may be able to get some of your student. Loan debt forgiven and not have to pay beth. None of that applies to you and nothing. Short of bankruptcy is your choice. Then you might have to do the income repayment income driven repayment. Plan which you can find at the federal student aid website. The problem with that is you may have a ten year loan if they adjust your payments down because of your income you then add time as our every place i've seen says or twenty five years that may not today help you with your credit rating but it definitely can help you. Lower your payment to get other debt under control if you're on the income driven repayment plan make the minimum payment. They set up for set up a an emergency fund. Build it up so you could quit using credit cards with creating new debt. Get the credit cards all paid off. I once you've done that then work on getting your student. Loan debt paid down. Even though your income may only say you owe one hundred dollars a month once that credit card debt is gone. You build up an emergency fund at least a thousand or two thousand dollars. Thank keep building up emergency fund and every three or four months or whenever you have to three thousand dollars in over what you need for emergency fund. Make a payment on your student. Loan debt tried to get paid the ford twenty twenty five years and the long term. You'll be better off as far as your credit rating and everything else. If you draw it out twenty twenty five years yours an article. I have in my show notes. It's from the business. Insider dot com only thirty. two student. Loan borrowers ever had qualify for full forgiveness through an income driven repayment. Plan remember an order to be. Get the forgiveness. you must not be in default. He can't even get on income repayment plan. Driven co plan until you're out of default you may have to go through the rehabilitation process on this loan in order to qualify for that. They'll be a long journey. Hopefully your employment opportunity will improve in newly be able to pay off your debt much faster so that you get out of debt and move on in life and not have to worry about any student. Loan forgiveness. I don't think the federal government has any hurry to fully give loan forgiveness to somebody much less those who are struggling..
"a. loan" Discussed on Reduce Debt Increase Wealth
"A thing. He did one thing on july first twenty ten. The federal government took over all student loans. So at that time if you had a student loan through a credit union or a bank and they loan you the money they then turn that money that loan over to the federal government which makes it little muddy. How do you know if you have a federal student loan or a private student loan. You need to contact whoever you're paying and find at information out if you're not sure i'm not sure. Fifty banks or credit unions even do student loans anymore because the federal government took all that over with the argument that they could do it. Cheaper before twenty tan. You would go to any banker credit union and you say. I want to apply for a student loan. They would look at your. You know information at they had access to federal funding for student loans. They would probably use that money they would loan you the money and then they had one year to either pay the federal back or to turn the loan over to the federal agency department of education most financial institution turned the loan over to the department of education. So that means you could have gone to a credit union or a bank and received a federal student loan. You'd have to know that what type of loan. But if your loan is referred to as a direct something. Loan direct subsidized direct plus direct consolidation. It's probably a federal student loan of some type. That's important to now. a what can you do. You're struggling. it's your student. loan is dragging down your credit rating. Because you owe a whole lot of money as of March of twenty twenty one. The only thing that the federal government has done is make any forgiveness or cancellation of student. Loans not taxable income to you until year. Twenty twenty four. I believe it was so it says small window you got three years to get debt forgiveness cancellation or discharge on your student loan and that had to pay income tax on the amount that got discharged. I'm gonna jump right into one of my articles student. Loan forgiveness is from student. Aid dot gov. It's the federal student aid website. These are things they can get your loan discharge you qualify and a course any federal program. It generally means you have paperwork. You have to fill out an apply for so. Let's start with this and i believe these things were in force long before the july. First of twenty ten at doesn't give me any dates forgiveness. Cancelation or discharge of your loan. Major no longer required repay some all alone find out by using links below. He can find this in my show notes differences between forgiveness cancellation and discharge that terms for getting forgiveness. Cancelation and discharge me nearly the same thing but to us in different ways you're no longer required to make payments on your loan due to your job. This is generally called forgiveness or cancellation if you're no longer required to make payments on the alone due to other circumstances such as a total and permanent disability or the closure the school where you received your loan this is generally called a discharge. Types of forgiveness cancellation Discharge public service loan forgiveness. This is available for direct loans. If you're employed by a government or not for profit organization you may be able to receive loan forgiveness under the public service loan forgiveness. Ps l. f. Program ps l. f. Forgives the remaining balance on your direct loans at your made a hundred and twenty eight qualifying monthly payments under a qualifying repayment plan while working fulltime for a qualifying employer. While you gotta do a lot of qualifying an ad that's ten years. So he worked for a government agency. It's federal state city county township any federal agency directly for the federal state governments. You can qualify. You have to have ten years of pay 'n your loans before you qualify and you have to fill out a paperwork. They recommend yearly to make sure that you qualify you still qualify so if you go to the website Federal student aid. Go down if your government employees or work for a nonprofit and a have a list nagata linked. There that can help you then you the next. One is teacher'd loan forgiveness. It's available for direct loans and feel loans f. e. e. l. loans don't know what that is must be something if you teach full time for five complete and consecutive academic years in a low income elementary school secondary school or educational service agency. You may be eligible for forgiveness up to seventeen thousand five hundred dollars on your direct loan or f. e. e. l. program loans note. You may not receive a benefit for the same qualifying payments or periods of service for teacher loan forgiveness and public service loan forgiveness. So it's either or teacher would be faster. I would do that five years instead of ten years again to have a link and they're only given you seventeen thousand five hundred of forgiveness. Maybe that'll help you get your. Maybe your master degrees paid off faster. Or maybe pay off your bachelor's degree low bit faster is better than nothing if you do this with the next three years that seventeen thousand dollar seventeen thousand. Five hundred will not be subject to federal income tax starting this year. If you're an attempt percent bracket that would be seventeen hundred fifty dollars. If you're a higher bracket definitely be more. It'd be well worth it if you owe more than that. Then you're gonna have to pay off the remaining balance. Keep making payments k. The next one is close school discharge. It's available for direct loans f. e. l. program loans and perkin loans if your school closes while you're enrolled or soon after you withdraw. You may be eligible for discharge of your federal student loan. That's all it says so. The school has to close while. You're going there or soon after urethra. Maybe you know there's gonna close in you transferred while then the student loans that were pacific to that school. That close can be discharged again. Fill out paperwork and we add perkins loans cancellation and discharge plies. Only for federal perkin loans may be eligible. Have all or a portion of your perkin. Lungs cancelled based on your employment or volunteer service. Were discharged under certain circus conditions. This includes perkins loan teacher cancelation toll on permanent disability discharge is for basically all loans if you're totally and permanently disabled you may qualify for discharge of your federal student loan aunt or teacher education assistant for college and higher education teach grant service obligations discharged due to death. Federal student loans Discharged due death of the borrower or the student on whose behalf of plus loan was taken out discharge in bankruptcy. I'm gonna talk about this later as says here. This is the federal student aid. In some cases you can have your federal student. Loan discharge declaring bankruptcy however discharge in bankruptcy is not an automatic process. I'm we're gonna talk about this later on in this episode and we have borrower defense repayment. You may be eligible for discharge of your federal student loan based on bar or defense to repayment. If you took out delone to ten a school in school did something or failed to do something related to your loan or to the educational services that alone was intended to pay for the pacific requirements to qualify for a bar or defense to repayment. Discharge varies depending on when you received your alone and again they got a link through. That would probably be a very difficult thing. To prove. False certification discharge. You may be eligible for discharge of your federal student loan. Fu school falsely certified your eligibility to receive a loan. Unpaid refund this charge. A few redraw from school and the school didn't make a required return of loan funds to the loan. Servicer you may be eligible for discharge of the portion of your federal student loan that the school failed to return. So you dropped out and you do a refund and they. They didn't refund the money to the loan servicer or if they gave it to you. It's too bad. You're not gonna get a discharge w got your money back. He should used it to pay the loan but if they didn't pay it if they said there's gonna pay back to the loan originator and they did not do that. You could get discharged for that portion of eligibility for apparent bars. Okay gotten a student for whom you borrow. Could not complete his or her program because the school close eligibility received the land was falsely certified by the school. Your eligibility to receive alone has falsely certified through identity theft. The school withdrew student withdraw from school. But the school didn't repay a refund of your loan money that was required to pay under applicable laws and regulations how to apply for forgiveness. Contact your loan servicer. If you think you're qualify if you have a perkins launch contact school that may delone or the loan servicer that school has designated loan payments during application review. depending on the type of forgiveness cancellation is discharged. Your plan for you may have to make payments during the application review. Check with your loan services to find out whether you must continue making payments during the application review period. They're saying you do if you have. Creation was approved if you qualify forgiveness. Cancel is this charts of only a portion of your loan. You're responsible for repaying. The remaining balance i application was the mind. Well then you gotta keep on paying an all. This does not apply if you're in default of your loan. So what's that name. If you're in default of your student loan that means you are unable or you quit making payments for more than one month to three or four months and they considered alone under default if you qualify for any of these items says his teacher or you work for the government or a nonprofit you have to get the loan out of default before you can apply for any of this forgiveness now. The good thing is too if you click on the link. There are two things you can do. You can do a consolidation loan which all those mis payments and that is still on your credit score e can do a loan rehabilitation which means that all your late payments or non payments are gonna be removed from your credit score. It may be a little more difficult. If you have a rehabilitation default loan the record or the default we moved from your credit history however you history was still show late payments that were reported by your loan holder before the loan went into default if you consolidate it a default alone record a default as well as late payments report before the loan one end to the fall will remain on your credit history. Late payments will remain on your credit report for seven years from when they are first reported is important that you fully understand the rehabilitation. You gotta understand the difference between the two programs. We gotta do that first before you can get any type of forgiveness also f you are a low income person there are other programs so now you want through all that ye checked it out in you know you don't qualify for any of those. You're not a teacher. Don't work for the government here. Don't work for a nonprofit. School didn't close. Nobody still jet danny You never had dropped out or head. A partial refund dingy pay. None of that stuff applies to you. What else can you do to help yourself with your student. loan debt. Well there is a program for that as called income driven repayment income driven repayment. Id our plans are designed to make your student. Loan debt more manageable by reducing your monthly payment amount if you need to make lower monthly payments. Or if you're outstanding. Federal student. Loan debt represent significant portion of your annual income. One of the falling income driven plans may be right for you revise pay as you earn repayment plan. Pay as your payment plan. Income base retain repayment plan income contingent repayment plan. That's four different plans. Basically all doing the same thing but ones revise main in your had a repayment plan. But it was revised. I assume that's what that means. So if you don't have one of those in you're looking to lower your monthly payment for your federal student loans. One has got to be a federal student. Loan borrowers currently on a plan. Who needs to recertify. I make changes to the payment plan. You can't use this to if you're in default on all your student loans or if you only have a plus loan you borrowed as a parent so you gotta be the actual student who borrowed the money and you have to not be in default. Many still make him timely payments. But maybe it's too much of your income. Maybe you changed jobs or lost a job and you're in process of looking for a job or changing a job. Then you may qualify for one of these plants choristers application. They need to fill out paperwork. You'll need to make one idea our application while you only need to smith one idea application to be considered for the. Id our plans. You'll be required to come back and recertify income information each year. How long does it take about ten minutes or less then a have a bunch of Questions and answering. So if you're struggling and it's because of your student loan. Federal student loans is a highly percentage portion of your income. Say that your student loan is sixty percent of the money you make. You're gone to qualify. For one of these income driven repayment plan request it can go to student aid. Dot gov and up top says manage loans and then under the managed loans at has apply for income driven repayment plan. Now let's get to bankruptcy so the first thing you need to do before you start this process figure out. Do you have a private student loan or do you have a federal student. Loan an order for everything. I just talked about has to be a federal student loan as kinda mighty heather. It's either or but you your service provider person. The company you're paying should be able to tell you at least as much information and also if you got the loan through a school essay you is already in college. He wants to the financial aid officer. And the officer did a for you. I'm gonna say you're most likely got a federal student loan. If you have a federal student loan he can do everything i just talked about. Or if your financial to listen classifies your loan as a student loan. They may not even classified as student loan. If it's recent one they may say it's a personal loan and they don't care what you used the money for but can you file for bankruptcy and get your student loans discharge in bankruptcy. Well typically now because federal debt is not discharged in bankruptcy that needs federal income tax and federal student. Loan debt are not discharge and bankruptcy. And that happened back a few years ago where they passed a new bill and a didn't the reason was they didn't want somebody to go and borrow bunch of money through the federal government. Go to college get their degree. Get a high ban jaw before they start that job. They filed bankruptcy and they get all their debt wiped out before they even start working so they want to keep that from happening so generally speaking no but there is but it's difficult and it would be expensive because to get discharged on her bankruptcy. It's not a normal bankruptcy thing. Here should find an attorney that knows about federal student debt before through the bankruptcy because around talk about that the first thing to do is call e must prove financial hardship and have their brunner tests. And then the brunner. Stan says one the borrow or has extenuating circumstance. Creating a hardships. Such a they cannot repay the student loan and maintain a minimum standard of living to the circumstances are likely to continue during the repayment term of the student loan and three the borrow has made good faith attempt to repay the loan. The borrower does not actually have to make the payment but millie attempt to make payments such as tried to find a workable payment plan. So that's the framework that you have to pre much prove in order to have a student loan discharged through bankruptcy in visory preceding a lawsuit within bankruptcy court must be fire filed where the debtor claims that pan that student loan would create an undue hardship for the detter met before nineteen seventy six. You could do discharge your student loans and bank and they give you a little more history here. But here's the catch one. You'll need to have a attorney. That knows that to that. Attorney is gonna be expensive and you have to pay him when you go to claim undue hardship just the fact that you're paying their attorney to do this for you as grounds enough for the judge to throw it out so it don't go much farther and your student. Loan debt is not discharged in bankruptcy. They are in a catch. Twenty two if you try to do it the right thing. And if you don't do it you're pretty much just crew get screwed. If you're struggling to make student loan pain. Here are some helpful strategy income driven repayments which i discovered ear. Your payment is based on your income family size and other factors typically lower than the standard repayment plan. Your monthly payment could be as low as zero after a certain period of time. Such as or twenty five years for example. Your fell student loans. Not private student loans can be forgiving however you likely oh income taxes on Student loans at are forgiving. That starting in twenty twenty one through twenty four. Believe it was that no longer applies. So i'll be back in one moment and give you my final thoughts on what you really should do. If you're listening to this podcast using an apple podcast.
"a. loan" Discussed on Money For the Rest of Us
"Only nine hundred and thirty five billion would be paid back and that didn't include about one hundred fifty tonnes originated by private lenders that are guaranteed by the government each year. The government lends a hundred billion dollars to students to cover tuition to more than six thousand. Colleges and universities doesn't look at credit scores or the field of study or whether students will make enough after graduating to cover the debt. The wall street journal article reported that between two thousand five in two thousand sixteen four intent student loans. Most of them federal went went to borrowers with credit scores below the subprime threshold. That's assuming they actually had a credit score. Which at the time. That i took out my first student loan which i'll talk about a little later in this episode. I didn't have a credit score. Nor frankly i know what i was doing. But here's the thing. The consultants found out that a major driver of those losses were students. Who went on some type of income driven repayment plan. An income share to wear they only had to pay a percentage of their income and ultimately the loan could be forgiven after a number of years. If a loan isn't paid back in full because the payments are based on income in income isn't growing and ultimately the alone is written off after twenty years or so then that will lead to a loss in addition that study found that there are millions of other borrowers that would default on smaller amounts typically less than ten thousand dollars after the drop out of a community college or a for profit college one of the comments in this wall street journal article on the private consultants conclusion regarding the potential losses. For the us government. Student loan program is that taxpayers would be on the hook for this if the government off four hundred and forty billion dollars of student loans..
"a. loan" Discussed on The Indicator from Planet Money
"Measures are wearing off. We have a lot of loan delinquencies. A lot of those will turn into loan defaults and some of those will turn into bankruptcies so these businesses fail so now banks have a problem banks. See the market getting riskier. So there are a lot pickier about who they lend to or who they choose to give a break and the problem is credit for market is sorta like for an engine. You know sort of lubricates. The economy so if commercial landlords stacey corp can't get loans. They're less able to cut deals with tenants and help them. Get through the pandemic okay. Hotels go bankrupt or retail. Stores go bankrupt. But that's not worthy bankruptcies end because many of those employees have lost jobs. They're going to cut back their spending at all kinds of stores. And so that's gonna make those store struggle. Which i imagine will make the banks. Tighten up even more. You got it. The cycle continues and the commercial real estate market becomes like an anchor dragging down the rest of the economy so adrian. This is a very sobering indicator that you've brought to us Is there some late at the end of this tunnel. Is there a way out of this cycle well. Liz bertha let the researcher from newmark. She says a turnaround ultimately depends on people getting out there at the end of the day. Demand for commercial real estate or real estate in general is really all about the people where they wanna live where they want to work how they want to spend their money and even with vaccine on the way. It'll be a while until people can do that like they used to. This episode of the indicator was produced by brittany cronin. Fact checked by. Sean sell donya. The indicator is edited by paddy hirsch and is a production of npr walking through downtown to downtown life. Kit is rethinking new year's resolutions. All this january. We're thinking about both really big and really small changes. If you're wanting to change up your life and start fresh got you covered. If you're looking to just make your hope a little nicer we got you there to listen to the life. Podcast from npr..
"a. loan" Discussed on The Indicator from Planet Money
"This indicator from planet. Money i'm stacey vanik smith and i'm adrienne mar adrian friend of the show. Welcome back you've been on many times before but for those who don't know you are a business reporter at wvu are in boston. Yup yup and you've come to us today with an indicator that's right. I know you love on things like job. Numbers and market indexes is this. You have stats for days on this show. You know it's in. The name is unavoidable right. But this indicator comes from a source. I think might be new to you and a lot of listeners. And it reveals important unseen force that could be holding back the fragile economic recovery. Were in right now okay. i'm intrigued. what is it it comes from something. Called the senior loan officer. Opinion survey initials s. l. double o. S so the sloops lose the slough the slough the sloops. Yeah exactly and what is what is it exactly so the senior loan officer opinion survey. Is this report. The federal reserve bank puts out about every quarter and economists. I spoke to says it's basically like like a banker gut check. Yeah basically asking them a one. This loan demand look like and what are your lending standards right now. Have they tightened or loosened. That is joe peak. He works at the federal reserve bank of boston. And we were looking at the latest sluice together. In it they're all these graphs that show essentially. How loan officers at a lot of banks are worried. So they've tightened their lending standards making it a little harder for customers to get home. Loans car loans credit cards but there's one category of loans. Joe is particularly concerned about commercial real estate loans at one point this past summer about eighty percent of loan officers surveyed said. They've tightened credit spigot on these types of deals and that is today's indicator eighty percent eighty percent from the sluice. That's a lot. It seems like the last time that you get that kind of that. That spike is back in two thousand eight right the financial crisis Because do i wanna lind to you right now on a real estate deal probably not right. Because i'd be afraid that you're not going to be able to make the payments banks afraid to make loans on commercial real estate. Since the summer data show banks gotten even more cautious. And i don't know about you stacy. I don't own any commercial real estate now. No no me neither and yet and yet there is a reason this should matter to you this fear radiating from the commercial real estate sector economists. Joe say it could turn this economic recovery into a years long slog and explain how after the break this message comes from. Npr sponsor. Bank of america. You decided to grade your outdoor deck. So you ordered the essentials. A power washer a set of patio chairs and a shiny new grill. And you used your bank of america. Cash rewards credit card choosing to earn three percent cashback on online shopping or five point two five percents as a preferred rewards member which you put towards the cost of your most essential deck edition a bird feeder apply for yours at bank of america dot com slash more rewarding copyright twenty twenty bank of america corporation. In normal times. Boston's financial district is a hive of activity thousands of people working in restaurants and retail shops buzzing through this canyon of glass and concrete buildings. But recently i took a walk through the neighborhood and stacey this is what it sounded like. Oh that's not good. Yeah mere silence minus construction crew here and there. The streets were eerily quiet walking through downtown. Walk into downtown. Walk into downtown except for some errands singer except for that was me on my way to a little park tucked between the office towers. And that's where i met up with. Liz bertha away. Are we recording now. Is that okay. Liz is a researcher at newmark. A company that buys and sells commercial real estate and she's been working in the area for years so she seen it. Change companies moving in vacancies going down and rents going up. She says the neighborhood had a by. It's the hustle and bustle. It's the people that work downtown. It's lunch meetings. And you know industry events and meeting up with friends that work at other companies not so much. Hustle bustle anymore. Since the pandemic many companies have moved or have been trying to sublet their spaces. And now according to liz office buildings in downtown. Boston are only about six percent full. So if it's about six percent now where would usually be Well it's hard to say because we weren't really measuring that because in the before times a company buying an office building in a super busy part of town might wonder how many square feet is it. Or what are the amenities not. Is anyone even going to show up in cities around the country. The pandemic has been squeezing the market for commercial real estate not just offices but also retail entertainment and hotel space and the empty streets and storefronts the are just the effects that we can see. Yeah there's a less visible impact that fear rippling out from the commercial real estate sector and to understand how that plays out may help to play. Pretend for a second so stacy. Let's imagine we're back in pre covid times and your commercial landlord. Your i don't know. Stacey you commercial realty corp i prefer vinick smith holdings but go on and let's say let's say you own some commercial space downtown and you rented out to clothing stores restaurants and music clubs and things are going well until the pandemic hits and then a bunch of your tenants come to you and say i don't know if i'm gonna make this month or anytime in the near future so landlords stacey what do you do right. I mean i could've victoght the businesses. But of course. I don't want to do that because a advil relief bad but be i mean i'd have to find another tenant and demand for downtown commercial. Space is not great right now. I could also try to cut a deal with the tenant maybe temporarily reduced their rent until things get back to normal except that creates another problem. Let's say you took out loans to buy all the commercial space and now you've got payments coming due right. I mean. I could go to the bank and try to cut a deal with them. Try to sweet talk them into maybe rolling over my loan or letting me delay payments a little bit so that would be a great idea except banks are not exactly eager to open up their wallets right now. Remember the sluice. There is still a ton of economic uncertainty. I think we probably haven't seen the worst of the bankruptcies and the business failures yet. That's joe peak from the boston fed again. He says the cares act from the spring made it easier for businesses and banks to defer loan payments for a while but those.
"a. loan" Discussed on This Is Uncomfortable
"Now that her bills were coming due. Jesse was determined to avoid the fate of the people she'd collected from so when it came time for her to the loans she got forbearance for a couple of them which meant she could delay the payments and she set up an income driven repayment. Plan for the rest. She quit the call center and she got a new job at a travel agency with much better pay and it felt like she could just be on cruise control. She was paying about seven hundred dollars a month on her loans. If you years later she wanted to see how much she chipped away at her debt. Her mom kept a big filing cabinet in the dining room full of all of their financial paperwork and one night jesse opened up so i just sat down. I took out all the information that i had all spread out over the floor. All the papers around me crunched all the numbers that was adding everything up. She initially owed seventy thousand dollars and she thought she'd probably knocked down to sixty eight. Maybe sixty seven thousand dollars and then after about an hour. She finally comes to a number. I had realized at that moment that might seventy thousand dollars a student loans. That took out is actually up to over ninety thousand dollars. And i was like well i know more than i started with. Jesse was stunned sitting there on the floor with all the papers around her. I broke down in tears. My mom was crying. i was crying. She was just like we're gonna find a way will find a way you're not alone. The thing is even. Though she'd been making repayments some of her loans ron pause on forbearance and they were actually accruing interest in the background in even though she knew the basics of how interest works. She didn't know it could get that bad that quickly it was financial quicksand and at this rate just balanced going to go up to over one hundred k in just a couple more years. I felt like now. I'm twenty five so it was kind of like you know just like i was so dumb. What was i thinking. I wasn't thinking. Why wasn't i think he. Why did anybody tell me to think more at her job at the travel agency. Most of her workers were making the same amount of money as her without a degree. It seemed like the whole promise of college was ally at this point. Felt like all it had brought. Her was debt. I just remember feeling like so defeated that you know like how am i ever going to do anything in my life like. How are we going to buy a home. No one's gonna ever want to marry me. I'm never gonna be able to afford to have children because if there was one thing she learned at the call center. It's that there's no escaping your loans and then it was just kinda like okay like put your big girl pants on in tire. Get to work. Jesse decided to completely rethink her approach and it was simple. Spend as little money as possible and make as much as she could. She got a second job at a cafe and after a day shift she'd head to the travel agency for an evening shift. She worked fifteen hours a day six days a week and she had moved into an apartment on her own but the rent was too high dating a guy And it was a really toxic bad situation and I invited him to move in with me. Because i couldn't afford the rent. And he was there all the time anyways. So i think well if he pays half the rent could afford to keep living here she stayed in that relationship longer than she would have just so she could split the rent and make loan payments when finally ended things. She moved into this tiny bedroom at her brother's girlfriend apartment for four hundred dollars a month. So you're putting more money toward just loans than you were paying on rent. Oh yeah then anything else. She often to free meals a day at the cafe. She worked at then had popcorn and wine for dinner I mean at the time. I just felt like you know. Just survive him just doing what everybody has to do. because we all got screwed by these student loans. I just honestly felt. Like i was either going to be living in a bedroom or with my mom until i was in my forties. Those like a real fear for you. Yeah a real fear. Especially as was like okay. I'm about to be thirty Is this going to change at all. What do i need to do well. Sometimes doing isn't enough even with all the sacrifices she'd made jessie wasn't making what she needed to get in the clear and then something terrible happened. Her mom was diagnosed with a degenerative bone disease in her right arm which left her in constant pain and drastically limited her mobility. It was like she couldn't it used arm and then then ended up being that she was just out from work totally and permanently. Your federal can be forgiven under special circumstances. And that's what happened here. Because her mom was on disability her parent plus loans would be forgiven. That was forty five thousand dollars about half of what jesse owed it was kind of like a silver lining in this really dark cloud but being her daughter i would gladly take those that forty five thousand dollars back if she could use her her hands again then. Another thing happened around that time that ended up making a huge difference. She got a promotion a really big one and that came with a big increase in pay double my pay so it was just like wild because now i actually had the means to do the plan that i had came up with. While i was broke she went back to the plan. She made on her mom's living room floor and she told herself. Okay time. i'm going to be really serious. Because i feel like i was sacrificing but i was still like kinda clinging to a normal life. I would still go out to eat with my friends sometimes like you know. Go to the movies. She did the math. Her plan was to three thousand dollars a month towards the rest of her loans until her balance was zero so she made a budget for her rent phone and internet and set aside one hundred dollars a month for groceries and all the rest and she meant all went towards her debts. She says almost seventy percent of her paycheck each month went to student loans. When you opened our refrigerator it was literally just like cool eight in there. Yeah even though her pay doubled q. Is now making a hundred thousand dollars. She was living cheap. No more we be trips with friends or coffees or even christmas presents.
"a. loan" Discussed on Loanclopedia
"One of my principals is. I hate spending money until i'm making money. I hate spending money until i making money because anybody can spend money right anybody you can go out and take out that loan and create a training center and expand julie business. You could spend it on a million different things. It's so easy to spend money but not everybody can make money. That's the hard part. And so i want you to be making money before you go out and spend money really depends for me on what state. You're businesses okay. You're not just the startup. you're not just hey. I have an idea. This is the mistake. Most entrepreneurs make a lot of entrepreneurs make hey have an idea. I'm going to start a jewelry business. I'm going to go out and get a store. That's the first thing. I need right to store. And then you blow through all your cash cause you make so many mistakes because you don't know what you're doing you haven't perfected your process and so your company fails shutdown and you've lost your savings. You may lose your house. You mortgage your future for this big bet. That didn't work out because you didn't keep yourself the best chance at success. That's what a lot of entrepreneurs do what you need to do. Is figure out a system that works you start small you build up you get customers you understand your product you you get traction. The reason you want to be expanding. I don't know what you're starting now if you're at home you have a little stall whatever you want to expand when you're busting at the seams when you can't handle any more business in your location that's when you want to expand and that means taking on a loan to finance something bigger fine but you gotta be busting at the seams right now if you're not there yet then don't go and expect because a lot of people think. This is a huge mistake. A lot of people think. Well if i had a store if i was in this location things it'd be bad. You can't count on that location to save you. It's not going to save you. You have to figure out your process your products. You're planning now and make it work on a small scale wherever you are until you can't handle it anymore because you're growing quickly then. Ready to expand young clip. -pedia jenna dugas a satisfied public accounting in florida. I six clans with the preparation of business plans which will represented to banks when applying full camacho loan show grease with the fact that that's by this ruling sounding counter intuitive it is true the banks to loan someone with stable funding. She said banks needs to reach certain benchmarks in order to lend money responsibly. Although being unemployed is not dill breaker other factors can weigh heavily on the loan application. If a bar barwa is unemployed received no other source of income is expecting a lot on secure business loan. The viewed as highly risky venture for the bank cash flow is an important concentration to a banka so primarily a steady job represents a sauce for reach. The bank can be repaid aside from that it can indicate a level of experience and success in set an industry all aligned off business known another way to acquire. Funding is to demonstrate a viable idea. Borrow needs to present a well-developed business plan and provide adequate financial history for a lenders review. The third step for borrower is to illustrate a logical plan for repayment banks. Mainly focused on the risk factor and having a amana of repayment is paramount. Now if borrowers can prove some form of income as well as large items for collateral to secure the loan. Their chances of approval decrease the final metal is to convince other wealthy individuals to guarantee the business loan because to our credibility and trenton. The underwriting package banks look backward at historical financial performance when determining a loan amount commits sense. If you have a strong buy ground. High net worth high liquidity and a viable project. Then you will likely get alone. Even though you're technically not a paycheck from company now do not forget. Owned businesses are not the same startups and existing. Businesses are viewed differently by lenders nationalist movement. And listen to this young pedia. Last week i was talking to a bank manager near my office and the bank manager knows who i am and he knows how involved i am with entrepreneurship and finance and so we were talking about loans and startups. Because everybody who wants to start a business with the loan goes to this guy and he. The bank manager told me that entrepreneurs need to learn how to start a business without going into debt. You already know was bad. Sign if the bank manager who gets paid if you take out a loan is telling you that people are taking too many loans. And then he told me a story about a lady who was sick and tired of her job so she decided to start a business. Oh yeah that's what i'm talking about. This lady like animals and so she decided she was going to enter the pet grooming business with like. Give your dogs a bath and they trimmed their hair and stuff like that. People love their pets more than do their kids. Nowadays so not a bad idea for a business slow she found a cat and dog grooming business and she was in contract to buy it for seventy thousand dollars. She didn't have seventy thousand dollars laying around so she decided to get a loan to finance her business idea. So what's wrong with just print. She's financing something that will give her income. That's what the lady was thinking to. This is good debt right. Because now you're gonna buy this business and the business will pay you money and a little cover your loan payment and it will put some money in your pocket so this is all the good thing but let me finish. Problem was this lady did not have any clue of what she was buying. What exactly is the seventy thousand dollars buying you. There's no real estate involved because there's business leases retail space. So what exactly is the seventy thousand dollars. Four have less than five thousand dollars worth of actual equipment. Meaning the other sixty five thousand dollars is goodwill and other words sixty five thousand dollars out of the seventy thousand dollar purchase. Price is what you're paying for the brand's reputation and their brand name and their customer list. This isn't necessarily a bad thing itself but let me tell you a little bit more about the business. Transaction for one the sales agreement to sell this pet grooming business included no non compete clause. So the person selling their pets growing business could next week. Open up a new head grooming business right across the street. There was nothing stopping them from doing that. And second and even worse. The business was losing money. This lady was willing to take out a loan to finance the premium for this business which was not even profitable to stop. Succeeding are low. So the oth- takes against you instead of taking on debts of finance risky startup. you're better off. Finding other sources of funding by avoiding debt. You improve your resiliency inability to stay in the game and keep swimming the but rather than paying off loans. I'm genetic founder of marketing up website. Problem muda come said that loans are a big topic on the apps he agrees. The business loans are usually out of the question for new entrepreneurs. Neither banks not prevalent is relented to them because the risk profile for business which has not started is extremely high genetic also said that the failure of businesses and the idea stage is around nine nine percent because the entrepreneurs never follow through with their idea to give money to that project is.
"a. loan" Discussed on Loanclopedia
"One of my principals is. I hate spending money until i'm making money. I hate spending money until i making money because anybody can spend money right anybody you can go out and take out that loan and create a training center and expand julie business. You could spend it on a million different things. It's so easy to spend money but not everybody can make money. That's the hard part. And so i want you to be making money before you go out and spend money really depends for me on what state. You're businesses okay. You're not just the startup. you're not just hey. I have an idea. This is the mistake. Most entrepreneurs make a lot of entrepreneurs make hey have an idea. I'm going to start a jewelry business. I'm going to go out and get a store. That's the first thing. I need right to store. And then you blow through all your cash cause you make so many mistakes because you don't know what you're doing you haven't perfected your process and so your company fails shutdown and you've lost your savings. You may lose your house. You mortgage your future for this big bet. That didn't work out because you didn't keep yourself the best chance at success. That's what a lot of entrepreneurs do what you need to do. Is figure out a system that works you start small you build up you get customers you understand your product you you get traction. The reason you want to be expanding. I don't know what you're starting now if you're at home you have a little stall whatever you want to expand when you're busting at the seams when you can't handle any more business in your location that's when you want to expand and that means taking on a loan to finance something bigger fine but you gotta be busting at the seams right now if you're not there yet then don't go and expect because a lot of people think. This is a huge mistake. A lot of people think. Well if i had a store if i was in this location things it'd be bad. You can't count on that location to save you. It's not going to save you. You have to figure out your process your products. You're planning now and make it work on a small scale wherever you are until you can't handle it anymore because you're growing quickly then. Ready to expand young clip. -pedia jenna dugas a satisfied public accounting in florida. I six clans with the preparation of business plans which will represented to banks when applying full camacho loan show grease with the fact that that's by this ruling sounding counter intuitive it is true the banks to loan someone with stable funding. She said banks needs to reach certain benchmarks in order to lend money responsibly. Although being unemployed is not dill breaker other factors can weigh heavily on the loan application. If a bar barwa is unemployed received no other source of income is expecting a lot on secure business loan. The viewed as highly risky venture for the bank cash flow is an important concentration to a banka so primarily a steady job represents a sauce for reach. The bank can be repaid aside from that it can indicate a level of experience and success in set an industry all aligned off business known another way to acquire. Funding is to demonstrate a viable idea. Borrow needs to present a well-developed business plan and provide adequate financial history for a lenders review. The third step for borrower is to illustrate a logical plan for repayment banks. Mainly focused on the risk factor and having a amana of repayment is paramount.
"a. loan" Discussed on Loanclopedia
"A profitable africa known though. Entrepreneurship is a dream for so many young individuals from across the globe yet finance has always been one of the major challenges for that to come to reality otherwise startles tend to sort out for loans from both the corporate and non corporate organizations usually. That's almost like a hard nut to crack in this episode of the local. Pd the.
"a. loan" Discussed on Racing Rundown: A Horse Racing Podcast
"At least horses deuce stay in training consistently for a long time. So and then we'll be seeing a lot more than a letter sent out of this race. Especially, if the top to do go to the reader scale, I'd love to see public sectors as might get us all price on. And sticking with the theme of the trip, made the race on the turf at Belmont we'll get into Joe Hirsch turf classic now, which was won by channel maker. Who with this win in the TURF CLASSIC PUTS HIMSELF MAKES DEALT THREE TIME grade one Belmont two times a turf classic winner as well as a winter the man of war last year. We we were kind of suspect of this going in here. We knew he was going to have an easy lead. Didn't necessarily need the rain but we knew he was going to have an easy lead in China maker has an easy lead definitely is very dangerous erase. Obviously you WanNa look at him going forward given what he's done the last two if for some reason does come back and does have another race or he has A. Loan lonely that's probably not going to happen the Breeders Cup the if that is where they go, which is probably pretty reasonable to imagine seeing that they've got the Breeders Cup berth already and they've been there in the past but. Has Really. Turn around a campaign. You know we've ragged on consistency, but you know we've finally seen one of these older male horses that continuously. Compete against each other do something consistent have backed back good races. was refreshing to see something that hasn't really been seen in a while and. Again like I mentioned don't really know what what to make of channel maker going forward. He's obviously not going to be a wind container in a Breeders Cup turf, but it is interesting. Going forward. Oddly, enough. He's probably the leader in the clubhouse because he won multiple grade lungs which no letter turf wars is done this year that probably the leader.
"a. loan" Discussed on The Indicator from Planet Money
"The of that loan. The company has to sign something called. Covenant, a covenant is a promise. Maybe it's a promise to have a certain amount of cash on hand or promise not to rack up too much debt whatever it is, it's negotiated at the time borrowing, and then each quarter when the company reports earnings. The Covenant is tested to make sure the business is. Is Still Meeting those requirements, it gives lenders sort of a seat at the table as it were, so they get to check in with companies from time to time. Serena Fox is Executive Advisor the European Leveraged Finance. Association, which represents big institutional investors that loan money to big companies, Sabrina says covenants are important protection for lenders to make sure companies are not misleading, taking advantage of those lenders and in a Lotta cases the lenders. Lenders could even be pension funds which invest on behalf of working families for their retirement. Right, or if you yourself have a retirement account like a 401k. It's possible that you might be indirectly lending money to these companies, so covenants protect big financial institutions, but also lots of normal people throughout the economy and Serena says covenants allow lenders to provide an important oversight role if companies know that they have to meet certain requirements every. Every single quarter and that lenders are going to be checking in and keeping them honest. Then the companies are going to be less likely to act recklessly, and they'll be more likely to live within their means and avoid unnecessary risk again. That is good for the entire Konami now in the event. That company does break its covenant. It can find itself in default, which can have some pretty nasty consequences. It may mean the. Credit rating gets downgraded making it harder to borrow in the future or might give the lender the right to call in the whole debt all at once. In some cases, it may even mean that the lender can take control of the business in question. Basically the house away. They got the keys to the company. They can take it over, but Moose lenders don't really want to do. Right. Sabrina says the most of these investors are big financial institutions who just won a nice return on their investment? They don't necessarily want to be worried about the day to day. Operations of some brick and mortar business take for example punch TAVERNS, which is a chain of pubs in the UK. That earlier this year was in danger of breaking its covenants. Suddenly this group of international financiers lenders were faced with the possibility that they might become the proud new owners of a bunch of struggling pubs in the UK, which might sound appealing to like Darius in me, but you know not so much to other people who have better things to do I'm thinking. Investors don't necessarily want to be stuck with a bunch of pubs that they need to somehow on. Exactly exactly like that I. don't see many of making a career change from you know. Learning money to huge businesses. To you know stuck in behind the bar to serve drinks and here's where the lying comes in, and not quite the lying more like the massaging the truth, maybe maybe bending or tilting reality ever so slightly. massaging the truth, just a bit, so to avoid breaking its covenant, which required that Punch taverns make a certain amount of money. They agreed with their lenders to report last year's earnings. In place of this year's, which means technically they didn't break. Their covenants spent least on paper. Yeah, other companies have struck similar deals, and these companies include concert. Organizers live nation and the luggage maker Samsonite, but some companies have taken it a step further going so far as to invent an entirely new accounting term enter. DOC So. If you're an accounting nerd like me, you'll be familiar with EBITDA. Never heard of it. Don't worry too much about it. It just a very popular way to measure a company's profitability. Now some are reporting Abbott dock with the see at the end, the stands for corona virus and again. If this is too wonky for you, all you need to know that doc is a way for companies to report their hypothetical earnings, what their earnings would have looked like if corona virus had never happened. Yeah, in fact, the term Ebert Doc, so in other words how profitable a company is in this magical world were corona virus didn't exist, was originally coined as a joke on social media. Somebody started making novelty coffee mugs with Ebert doc emblazoned on the side already was. Until it actually started to happen. And companies were reporting their profitability, adding back lost revenues as if they had not had the disruption caused by corona virus. That's right last month German manufacturing companies Schenk process became as far as we can tell the first company to officially report. It's Ebert Doc. They literally used this joke term in their earnings report and this method of reporting hypothetical earnings, maybe starting to catch on a bit Uber recently reported quote, Unquote adjusted earnings, which added back in some of its corona virus, related expenses, and by one estimate as many as one ten large companies may be using some kind of corona virus. Earnings metric, and as you might have guessed there is an element of wishful thinking and all this. Basically, what's happening is that companies are reporting would have happened if we lived in the world. We all wish we had without corona virus. Instead of the world, we actually have which sadly does include corona. Virus Serena Fox. Concedes that agreeing to report these sorts of kind of fictitious numbers can be a useful way to avoid unnecessary upheavals, and just keep the economy running smoothly as possible, but she does worry that if companies are allowed to skirt these loan requirements, it could lead some businesses to borrow more money than they can eventually afford to pay back. They're basically just throwing good money after bad. They're pretending that they're the same at the same level of profitability than they would've been of corona virus hadn't been, but we don't know if that's ever going to be the case, so you're borrowing many based on a fiction, and then you're uncertain about whether you're actually going to be able to service the That's when fiction pretending like Rona. Virus never happened becomes really really dangerous, and this comes at a time when loan covenants are already historically week over the last decade investors all. All around the world have been eager to find a place to put their money where they can get a decent return, so they've been lending that money to companies where they can get that return, and that's giving companies a lot of leverage to allow them to negotiate looser and looser and weaker and weaker covenant terms. Yeah and Sabrina worries. The pandemic may further erode the few protections that lenders have left, but she says given the scale of the crisis. We're currently facing. We may all need to be okay with bending reality justified. This episode of the indicator was produced by Chiara Powell in fact, check by Britney Cronin. Our Editors Patty Hirsch and the indicator is a production of NPR. Actors Tracy Ellis Ross is used to people talking about her age a lot and she's okay with whatever people say I'm forty seven years old and I'm the most comfortable in my I've ever been. What would we go back to being twenty two? No, thank you. The Black Star on confronting ages world. This in subscribe to. It's been a minute from NPR..
"a. loan" Discussed on Loanclopedia
"Very strict terms of collection upon failure. A Loan Shark operates outside the Lor for sorts into intimidation and violence. We you don't pay them back as Atlanta greet but they are not above the law for any lender authorized or not who harasses? You is breaking the law. In fact they have no legal right to make you pay the loan back at all because the loan itself is illegal. A LOAN SHARK CONSIDERS IT. Bad business if you're able to pay back the loan as when Wendy because the loan shark only gets to make you bleed when you fail to repay loan sharks like to prey on good people and they do not become an option. Unless you're really desperate for money. They make their loan seem attractive yet. Their goal is to rob you blind. It's like borrowing money from someone in a gambling casino using your wife as collateral terrible right. That's how it is because the interest rate from loan sharks keeps soaring up to about seven thousand percents. They can even trop you in a never ending cycle of debt. You end up being nothing but interest for years and years to come they will threaten you not what debt collectors but with physical violence loan. Sharks are never a good idea. Even if you feel you have no other options. Bbc News reported that some loan sharks have attempted to charge interest rates as high as seven hundred and nine hundred thousand percent absolutely insane. One woman who a five hundred pounds ended up being eighty eight thousand pounds. You might have been pressured into Bari. More money to repeal one loan with another and end up in his spiral of debt that you can never repay payday. Lenders are not loan sharks. You should know the differences stunned US laws. State the maximum interest rate a lender can charge in each state ranging up to approximately forty five percents. Payday lenders often grunted exceptions. Which means that payday lenders can charge up to four hundred percent. They can offer such high rates because of the special provision offered by state governments yet loan. Sharks would be charging rates that are higher than the rates charged by payday lenders. Get the gist payday. Lenders are illegal. Form of high interest lending offer to Baras. They are typically registered entities that follow standard credit application procedures for a question personal information for credit check. Payday lenders also require proof of employment and income payday lenders. Usually as their principal offered on the income and credit profile while payday lenders are not known for violent tactics in debt collection. They do of a short term rates on payday. Loans with extremely high interest. Costs making it difficult for Bartolotta repay young clip pedia how to spot a loan shark. Sputnik loan sharks quite easy. They lead to or not about work in usually with no record of payment. They refused to give information such as the interest rate they take away from us such as security your passport bankcards and lines the increase the debt or add additional charges any time. They feel like they're refuse to allow you. Settle your debt even when you want to do so because only by owning can they make more from you? In most cases your business dealings with loan shark are considered illegal even you therefore comedian on offense reporting alone shark is the best thing if you have an approach by someone you think is a loan shark. You need to report them and contact the police if you are in immediate danger. So why do people resort to loan sharks speed ease and convenience of some of the main reasons? Unlike other providers that have strict lending illegal lenders can offer instance decision loans and have lenient criteria. People who need urgent caution barn was who have been turned down by conventional lenders fueled tinted to get quick loan loss of employment loss of income for long illness and lock of health insurance divorce and death in the family or other reasons why people contact loan sharks but prominent start. This is a quick fix short term. Solution Borrowers with serious. Financial problems may become in a long-term gets loan clip pedia. What reason to avoid loans from illegal lender is the high interest rates which makes them very expensive with loan sharks. Payment term is often extremely short. Another reason is that digital lenders use blackmail and coercion and some of them are part of the underworld. So what should you do goofy if your income is low or you a poor credit or you only need a small amount for a short while. They're ripped lenders. You can turn to instead of loan sharks an executive order from credit union although you would have to become a member of that Credit Union and might ask you to save amounts before you can borrow remember. Not many things are as bad as falling prey to loan shark reading from the low pedia. Make a bad decision in a hurry..
"a. loan" Discussed on Bad With Money with Gaby Dunn
"Loans like so now if you go to vanderbilt they have a pledge that they will give you grant aid so that you don't have to take out debt. Doesn't it has stick. They didn't have it when I went to and I'm not upset. Get that right. I feel happy see I give back to them to specifically to that fund so that more people can like not have debt when they graduate from Vanderbilt <hes> I mean but I also do say like as somebody I mean I try not to think personally because I feel like personally at this point in my life. I'm actually at a fairly stable place. Although I think at times I'm bad with money. Which is why I listen to your podcast? This isn't that criteria higher education of New Jersey listening to my podcast blows my mind like Oh. This is actually pretty helpful so I try not to use personal examples because I feel like I'm not the average person right like I'm not the average person but I have student loan debt to say it was say it was not me say it was somebody else who had like. I have all my friends have basically have student loan debt and say they had paid off their student loans last year and they really really try hard. It's an and then like next year you know Elizabeth Warren become not like two years from now like Congress and everybody decides we're GONNA forgive everybody student loan debt. I could see how that would feel crappy like man. I could've taken a vacation. I could put more into retirement or whatever but it's kind of like I mean you know. This is kind of how policy work sometimes there are lots of like other. I think policies though were the same thing has happened so the the most recent one was <hes> the mortgage crisis where people weren't able to pay their mortgages and you actually saw a very similar thing happened where when we started offering mortgage assistance to people there was this thing like I like cut out my cable and you know sold a rib so that I I pay my mortgage in my net deadbeat neighbor didn't and you're going to like help him so I think it's a pretty common thing when you're dealing with these kinds of like distributive financial pieces that we just kind of contend with and make a decision about like you just WanNa do it or not do it and look get better all the time we used to do horses and carriages and now we have cars like it's like I my dad had polio. He's not going to be like well now. People don't get polio at suck right. I had polio like I mean yeah. That's my dad is he had polio. That's it's pretty crazy. People don't have polio anymore like vaccinate your kids. Yes well so oh you heard it here I from the Secretary of Higher Education Vaccinate Your Business analysts. Just it is a problem here with the problem here in New Jersey as well so great so okay so this is is <hes> well last question and it's also oh very research heavy and so you have a masters from Harvard. Yes you have a doctorate from University of Pennsylvania. Yes you mentioned before you worked on Obama's White House a now your secretary of Higher Education for New Jersey and you are thirty for years old I by the way I'm thirty one. I don't know how old you think I am but you are like different generations yeah well. We're the same generation we're both gallons right yeah yeah so. Do you ever see yourself back at the White House awesome capacity. You know I mean obviously we would need a different president. I don't think it's happening now. Replace Betsy Devos. Oh my gosh gosh so I mean it's a really tough job. I mean when I left the White House my mom hi mom. She listens to everything so she will appreciate this who I love very much who also has a master's degree and is wonderful person and it's been an inspiration in my life mom <hes> she when I left the White House she was like why are you leaving you work with President Obama and they have nice Christmas parties and I haven't gotten to go yet. It's like it's a really really stressful job. Mom and I'm burnt out all time and and I don't get to date and I don't get to see my friends and so it's just a really you know it's a it's a job that I obviously I really appreciate the experience and I had the ability to work on a lot of important things but I just I also realize there's a lot of ways that you can have influence and policy and so you know. I don't know maybe in the future but I'm trying to retire like early. Which is why I'm listening to podcast like how can I how can I pay off these student loans and retire early just at thirty five year tried to retire in in my birthday January so that might be too early but yeah like I'm just like man? It's a lot of work and like like work each job like not harder than the last job and I've been unsuccessful at best so far no won't because you care and because you're working in in something that's difficult and it's also like I think probably at the state level. It's like more direct involve it is it is that's actually been really fulfilling is into into Leave D._C.. When I did <HES> and to be so like I talked to my friends who are still in D._C.? And <hes> it you know it can be kind of like a soul sucking place right now and politics is the thing right yeah like to be an estate where we have like a progressive governor and like a state legislature sleep. That's passing bills and we're sometimes it's like the pace is so fast and the number of bills in the like the work that we're doing that. We're trying to figure out how to keep up is the challenge rather than being like man. How do we stop all bad stuff from happening? Is actually you know that's that's. That's very fulfilling personally for me so like we're doing free community college. We're trying to figure out how much we can expand it. We're trying to help students with like hunger on campus and trying to prevent you know students from having so much student loan debt and trying to create more affordable repayment payment plans and like all of that stuff did just in the past year and that feels in greater the student bill of rights and there's a lot of energy momentum so it feels good even on the news. It feels Kinda depressing sometimes sure so the final question is is there anything you want to leave my listeners with. Is there anything that's like. Here's what you guys can do to help us or here's what you should know. Yes I mean so practical so so much of this work. I struggle between like I usually. I'm not a person that is like a personal finance right. I'm not giving I don't give people personal from the Higher Ed perspective no but but I think there is something I was going to say but I think there's like there are awesome like personal things that people should be thinking about like with repaying student loan debt. There's often like I think fear of student loans that is kind. It's it's irrational fear but it's one that you have to kind of like conquer because the answer sometimes isn't just don't borrow it all and so that's one thing is just too like and then once you have student loans to actually be willing to open up the statements I knew so many people that they just didn't open them up and ought to open up the statements and then you can actually call your servicer and you should if you can't pay them usually literally call them and be like I cannot pay. Can you help me and help walk me through the options and so just you know just being willing to you. Look at your own stuff and knowing that until we can have a broader policy solution to the stuff there are like some ways to help you manage your student loan debt that are imperfect but that you have to like actually cross that bridge of calling a servicer or looking at the actual amount that you were going out so like my advice to everybody would be because it's such a terrible thing to be in default on your student. Loans is really <hes> until we have like a broader policy solution to that Dow being one other thing is please please don't have like I know. This is gonNA sound bad and maybe some college presence will be mad but don't have a dream school huge. Don't have a dream school have a bunch of schools that you could go to Egypt which is equally you know fine and you know all of which would be happy with and you will figure out what works best for you and your family financially like the number of people who <hes> and even some of my friends who went to their during school approximately. This is terrible if I but you know you just like really lock yourself in when you stay off. I don't go to like this one school. I will say am happy to say on a personal level. My dream school was Duke and the reason was <hes> that there was an I love my husband who is not did not go to do and is not the person but I just it's like there was like a basketball star Duke that I thought was like so attractive and I was going to go to Duke and we're going to me and get married and like that was my thing like you know a good school right so like but it was also you know about that right so duke did not offer me a lot of financial aid they did not if I had gone to I would have had one hundred thousand dollars undergraduate student loan debt and my parents were like no no you you and I wanted. I visited Vanderbilt after that happened. I visited Vanderbilt which I had never visited before and I was like this place is pretty cool. It actually looks kind of like Duke. It has green space. It's like yeah dorms. There's a whole kind of set of schools that are pretty much the same school <hes> sorry to a lot of school but you know like you're probably going to be okay if you're like. Oh you know a person who is going to a particularly intern like I don't want to tell you to go to any school but like it'll be okay. You'll generally be okay like you're smart. Your ambitious go to a place that financially meet your needs so that you're not swimming in debt <hes> to the extent that you can like some people. There's no way to avoid taking out student loan debt so it's not that they're all bad but just thinking that the only way for me to do this is for my parents to take on hundreds of thousands of dollars a debt or from me to take on a bunch of debt and not considering like that state you know your public college options or whether a community college could be right for you just be open that was money as a production of stitcher. Our show is produced an edited by Melissa Yeager Miller and sound engineered and mixed by Andy Kristen's. Our associate producer is Kristin Torres and our supervising producers..
"a. loan" Discussed on Gettin' Grown
"You know it's morning fix as and you know we're right right quick service when not long join out and we're very very proud of our prices well because technically we're like a third of other companies charge in we did that because we really believe in volume like we no there's a lot of people serve in certain she in v a barrier like it shouldn't be caution barbarian to good service so i call it's like the target of student loans if you will we act body knows that we love target every most people find his instagram page the student loan doctor in our bio link is always a star gear and you know we have a really simple process like if we start we call to the console to actually doing the work so there's a series that process just that one can make the person will use the client that we wanna serve in that we can serve them in into we don't want it to be charge view talked us on we know within five minutes if we can help or not in if we can't bet so k to we will tell you in seeing you to a resource that can for getting done absolutely now let me ask you a question sonia i don't know i i've read on the website and i see all the services you guys offer i think it's amazing speaking to nonprofits everything but how do you go about do you guys help those who don't necessarily have student loans or nestle you know they have just there in debt in general we can do then the form of a budget appointment i'm at three time publish author and two of my books are.
"a. loan" Discussed on Today, Explained
"About it or twenty five thousand dollars in debt. And I don't know how payback my loans are. I'm one hundred and fifty thousand dollars in debt. That really did start to change. People talk to the media about it. People were profile about their debts and how they were struggling with them. And student debt became sort of an identity in a way that had not been in the past over the past five or so years. But there are things we don't talk about the race gap in this. We don't talk about classes much. It's very much framed as the middle class issue often with like a white kid from a liberal arts college who took on sixty five thousand dollars in debt, which is not really what the crisis looks like in America is is again two point. We're like paying money for college is not a sound economic decision. No, and I think this is somewhat scary consequence of this bigger conversation about debt. It is still a very good idea to go to college. It is a very good idea to borrow money to go to college if you cannot afford to go to college, otherwise you earn so much more over the course of your life. There are many other differences of in things like health and things like life expectancy, life satisfaction between college graduates. On graduates going to college is the best economic decision you can make that said, it matters where you go to college. It matters how much you're paying. It matters what you study and the things that absolutely matters. The most is whether you graduate. When we talk about student debt and America, we're usually talking about people. And even in this conversation, it's been sort of predicated on you've graduated from college of got your degree. The place where student loan as loans are really a huge problem is the people who don't graduate, who borrowed twenty thousand dollars for two or three years and graduate, and maybe don't have that like big ticket, scary number on their dead, but they also don't have a degree that can help them get a job to pay it off. It's not the people with the scary hundred thousand dollar loans, defaulting. It's the people who, oh, eight thousand dollars, but quick after a year and so just can't scrape the money together to pay that back. Libby Nelson is an editor at vox before we go today is a numbers day. It's March fourteenth three, fourteen pi day. It's also the day. Albert Einstein was born and sadly, this March fourteenth is the day we lost Stephen hawking, he spent his life explaining the universe to us and one of the great ironies of his life is that a voice that wasn't really even his became his unmistakable voice. One of the great revelations of the space age has been perspective. It has given humanity. Another settles. When we see the earth from space, we see ourselves as a whole. We see the unity, but not a divisions. It is such a simple image. With a compelling one planet one human race. We are here together to live together with tolerance and respect. We must become global citizens. I have been enormously Rivoli edged through my work. Eight will contribute to our understanding of the universe. But it would be an empty university if it were not for the people. I love who love me. We are all triumph threat Villers turning against their into the future. But let us work again. Our place, we want to visit me brave, be determined overcome via. That can be done. Okay, we, we've done it. We went to dot com slash podcast, but then we came into the actual store. You try ten soft mattresses. What do you think? What's the verdict look? These are great mattresses, but I gotta try the full range of firmness before I can make a final decision. Okay. What's next medium or firm? You know, it's called mattress firm for a reason going straight to the namesake. No one ever said it would be easy that's tomorrow.
"a. loan" Discussed on Adam Ruins Everything
"That you can figure out but that you'll have to take the time to do the research and asked the questions that you need to ask um and and families need to really contemplate you know what they can afford um um rather than borrowing uh everything that's available because it's very easy to borrow more than what you can easily repay um and and then people need to it's super important to borrow first from the federal student loan programmes if you have to borrow and only after you've exhausted your uh eligibility for federal student loans should you even consider looking at a private student loan um and really if the federal loans that are available are not sufficient to pay for the cost of education um e e in what may wanna think twice about whether that is in fact an affordable education on because as much as we've talked about the federal federal government not really being a great partner as a lender to students and and sort of you know following them to the grave to collect uh uh visa onerous amounts of private lenders are even worse as my understanding he will typically private loans are much more expensive so they as as much as we complain about federal student loan interest rates pry at student loan interest rates for most people are much higher and they have variable interest rates which means that the cost is not certain and tends to go up over time um and the their riskier loans in that they're not flexible like the federal loan so what the the federal government although they they will pursue you to the grave they will also give you a plenty of rope to hang yourself with you know they will say like hey you can't afford to pay this money this month you don't have to pay at this month or next month or next year so you know you can go twenty years and still owe a balance on your student loans like i have an and plenty of people have um because if you need to um which is of course a double edged sword when it comes to the a cruel of interest but but private student loans are um very very tricky and they they do tend to be quite a lot riskier and more.
"a. loan" Discussed on Money Girl
"And the last option number six is to take a loan from family or friends if you can't get alone using the first five options that we covered the six is to borrow from someone you know taking alone from family or friends is a decision that should not be taken lightly because arguments over money can destroy relationships if you accept alone from family or friends i want you to view it as a business transaction and create a proper loan agreement to avoid any future disagreements there's some great platforms that will help you manage person to person loans like zim pool money and lending karma both of these handle loan documents and payment arrangements to make your life a whole lot easier when you're managing a personal loan with someone else you can also draft her own promissory note with the agreed upon loan terms using a site like rocket lawyer or legalzoom so let's review the six options to get alone with bad credit number one apply for alone at a credit union number to use alternative lenders number three try a marketplace lender number four get a cosign her number five use a home equity line of credit and number six take alone from family or friends if you exhaust all these options and still can't get alone the best way to qualify is to raise.