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Start Save Money to Pay Down Student Loan Debt Tax Act 2013

Posted by Michael M.K. Thursday, January 31, 2013 0 comments
Start Save Money to Pay Down Student Loan Debt Tax Act 2013Start Save Money to Pay Down Student Loan Debt Tax Act 2013  - How would you like to pay off your student loan debt?
As a mother of seven children who are young adults and college educated, I know what it is like to struggle to pay for school and manage student loan debt.
Be free of student loan debt
I believe that every person can be free from the worry of student loan debt and pay them off by following steps to save money.
The key is to free up funds to put toward retiring those debts. It’s also important to write a check (or make a payment online) toward the loan at the time you save the money.
Otherwise, your hard work at cutting back will only get reabsorbed into the family spending.
Here are some key areas where you can begin to reach that goal.
Save in Your Community
Begin the savings adventure close to home by supporting your local schools and businesses.
    School Discount Cards – Help your favorite student by purchasing their schools discount card, almost every school offers these as part of their fundraisers.Each card costs around $10 and is good at dozens of local businesses for savings on things like oil changes, dry cleaning, haircuts, pizza and more, depending on the card. We saved loads at a local coffee shop’s “buy one/get one free” offer. My friends kept wondering why I chose the same location each time we met for java but I saved $350 over the course of a year!
    Entertainment.com offers a coupon book and costs between $25 and $45. Preview the coupon booklet for your area first. You’ll save on movie theaters, theme parks, sporting events, and at local shops. The average advertised total book savings is $17,000. If you redeem 25% there would be an annual savings of $4250. Even a mere10% redemption is a savings of $1700 per year to put toward student loan debt

Get Ready for the Student Loan Bubble to Rock Obama's Fragile Economy

Posted by Michael M.K. Wednesday, January 30, 2013 0 comments
Get Ready for the Student Loan Bubble to Rock Obama's Fragile Economy - Student loan debt is nothing more than slavery. The promise of a good education and easy money has many students going tens of thousands of dollars in debt without ever having a significant income all thanks to the federal government's program to make education obtainable to all. The only thing that is truly obtainable in programs like these is trouble down the road of many who buy into the promises of this government program.

This year, student loan debt may mean more trouble for the troubled US economy.


Fair Issac reports:

Research by FICO Labs into the growing student lending crisis in the U.S. has found that, as a group, individuals taking out student loans today pose a significantly greater risk of default than those who took out student loans just a few years ago. The situation is compounded by significant growth in the amount of debt that new graduates are carrying.

The delinquency rate today on student loans that were originated from 2005-2007 is 12.4 percent. The comparable figure for student loans that were originated from 2010-2012 is 15.1 percent, representing an increase in the delinquency rate by nearly 22 percent

See the crisis brewing as another easy money lending plan delivered to you by the federal government in the name of fairness threatens the entire economy just like the housing bubble eight years ago.

You know who owns all the student loan debt now, so it will be the American tax payer, many who don't have a dime of student loan debt, who will be left to bail out these bad loans.

It was just a year or so ago that American students, graduates, and college drop outs hit a significant milestone. There is now over $1 trillion in unpaid student loan debt enslaving people from around the United States. If we are nearing a 20% delinquency rate in student loan repayment, that means we are rising above $200 billion in bad student loans which taxpayers will soon be asked to pay back in the forms of more bank bailouts just like the housing bailouts.

America's borrowing culture is kicking America from every angle.

Is Student Loan Consolidation The Right Option?

Posted by Michael M.K. Tuesday, January 29, 2013 0 comments
Is Student Loan Consolidation The Right Option? - As we know that educations is never decreased instead it's increasing from time to time, therefore the students force to deal with debt. Thus, applying for a student loan consolidation become an imperative to manage the debts.

If you are a new student, surely you are enjoying an independence and study, however things are often not as good as you expected, responsibilities attached to this condition. You worry about the things that you should think about before, such as payments. There are still other payments such as peripheral to think about like room, books and supplies, transportation, food, and tuition fees.


It will not be surprising if students encounter difficulties, particularly in the financial sector. As most of the time and effort students mostly centers on their studies, not to mention the fact of limited revenue streams, bills will be more difficult to pay. What can a student do when this unavoidable fact finds them and will be around for an indefinite period?

Student loan has become a popular option today. Apart from conventional loans, there are also direct loans from the government.

These direct loans works like the 'study now, pay later "program that will allow the student to borrow a certain amount it does not have to pay until graduation and getting a good job . They are called as such because they do not require a monetary deposit or guarantee.

Now, if it already has a lot of outstanding loans? That would really put a lot of difficulties in the future.

Imagine the interest in summarizing the unmanageable proportions! This is a good thing, a student could consolidate all his loans in existence to one single payment each month to a single lender.

There are many benefits associated with the consolidation loan student. Not only did he get a warrant more lenient to pay his debts, but it may pay an amount much less than what he originally bargained for.

Because it also has a grace period of six months before you actually start to repay its loans, the loan appears too possible for the student. With a smaller monthly payment, it can also manage other costs that will be taking care of the future, such as food, utensils, car expenses, mortgages, and education related fees for their children among other things.

Potentially, interest rates could be minimized, as there would be a pillar that would be used to determine the applicable interest and above.

How To Consolidate Cheap Student Loans?

Posted by Michael M.K. 0 comments
How To Consolidate Cheap Student Loans? - Today, the cost of higher education is becoming increasingly expensive. Some families may not be able to afford to send their son or daughter for further education. Therefore get a student loan help. There are two main types of student loans available. Government student loans and private student loans. Student loans or federal government funded and administered by the U.S. Department of Education. It is classified under the student aid federal loans. They have very few requirements other than you are a student in an American college or university. International students may also apply if the approval is on a case by case basis.


Each year, the program through student loans pay nearly $ 60 billion making it a good choice for a government student loan. Thus, interest rates are very low. Private student loans are funded and administered by banks and other financial institutions. These lenders offer student loans at an interest rate higher compared to federal student loans. Some common student loans available are from Citibank and Sallie Mae

You are allowed to ask for private student loans and federal education needs your although I would not recommend it. For some students who have a few student loans to repay at the same time, it can be a financial burden on their family finances. This is where student loan consolidation comes in.

Student Loan Consolidation essentially consolidates all your student loans into one loan so that it is easier to manage and make payments. When you find a student loan consolidation whether from the government or the private market, your existing student loans are paid for and cleared by the lender to consolidate student loans. Balances are transferred to the new student loan consolidation. So you start a new loan and only needs to make a single payment each month.

There are several advantages to using student loan consolidation. Interest rates will be lower because it takes the average interest rates of your previous student loans. Thus, due to government legislation, the maximum interest rate can not exceed 8.25 percent.

It becomes much easier to manage a single student loan and payment are easier. Repayment options are quite flexible. To consolidate federal student loans, you can opt to start repaying after you have graduated from school. There are also several other options.

Another beneficial side-effect of student loan consolidation is that it can also improve your credit score. Since you are effectively clearing all your old student loans and taking a new one, your credit score will increase and it is important if plan to take other types of loans in the future ....

How Convenient of The Government Student Loan Consolidation??

Posted by Michael M.K. 0 comments
Consolidation student loans is a program that allows students to consolidate loans outstanding education in a new single loan. This is not limited to a single lender. Even if lenders hold these loans, you can always opt for the consolidated loan. Consolidating student loans is beneficial because it will reduce your monthly payments since the payment will be extended.

Consolidating student loans is convenient for students and parents because it simplifies the loan. The monthly amortization will also be lower due to the repayment can be spread over a longer period. The interest rate will also be reduced since the borrower will have many options benefit plan. The best time to consolidate loans is right after graduation before the grace period ends. This will allow the borrower to secure the lowest possible rates on the loans.


Government consolidation loans have lower monthly payments and have flexible terms and conditions of repayment. Rates may be as low as 3.5% and are calculated at a fixed rate. This will also benefit you if you want to get rid of the release of many controls. With student loans, the government consolidated, you will get a refund and unique easy since you only have to sign one check each month. Students over $ 10,000 in outstanding student loans are eligible for this program.

The borrower must also not be in school half-time or more. There are many types of loans that can be consolidated with this program. They are Stafford loans, Federal Consolidation Loans, Perkins Loans, Parent Loans Plus, HEAL / HPSL Student Loans, Federal Direct Consolidation Loans and many more.

Private student loans can also be consolidated. However, you should not consolidate federal and private student loans. This is because you are not able to defer payments on the loan consolidation private, but you can with the consolidation of federal loans if you want to return to school.

With the consolidation of private loans, you can not stop payment if you have economic difficulties. Private loans are not eligible to claim tax deductions. In addition, if the borrower has died, federal loans are forgiven as private loans, loans have gone to the nearest relative.

It is important to consolidate student loans from the federal government because it reduces the number of credit loans that you may have. This will also create a good credit score will allow you to better conditions for the consolidation of private loans.

Credit check is not required also the consolidation of government student loans from the government of the United States guarantees federal student loans. Application consolidation of student loans is very easy. Advisors ready on your school will be able to advise you on the procedures. You may apply online, by mail or by phone. It will only take 1-3 months to build.

If, however, you will not be eligible, you may consider refinancing your home or investment property to repay your loans. You may also consider a personal line of credit from the bank or consider consolidating private loans. Reimbursement has different terms.

For borrowers with loan balances of $ 10,000 to 19,999 dollars, have a repayment period of 15 years. Twenty years is allocated for those with loan balances $ 20,000 to $ 39,999. There is 24 repayment for one year for those loan balances $ 40,000 to $ 59,999. If your loan balance is $ 60,000 or more, the 30-year program will cover.

Addressing the Austerity Lock-in at Public Universities

Posted by Michael M.K. Monday, January 14, 2013 0 comments
California continues to show public universities the way towards a permanent austerity.  Governor Jerry Brown's budget proposal for 2013-14 (summary for higher education), released January 10, is a case in point. It raises once again the question about how to respond, which I'll discuss below.

A quick review: The budget provides $125 million in additional funds (the other $125M of a reported $250M was a Prop 30 tuition buyout for last year), and will still leave UC 19% below its 2007-08 state funding level in dollars unadjusted for inflation, enrollment increases, or new expenses for benefits etc. (Department of Finance figures p. 35).  After two additional years of the proposed 4 percent general fund increase, UC's general fund will be around $2.86B, still below 2010-11, the last year before Gov. Brown took office and cut UC and CSU $750M each.  In practice, less than that will flow to UC campus operations: see my discussion of the Regents' November budget for an explanation).


At that November Regents meeting, UC Executive Vice President for Business Operations Nathan Bostrom summarized the problem, with Jerry Brown in attendance.


    UC has absorbed nearly $900 million in State funding reductions over the past four years, nearly 30 percent of the State funding for UC. Tuition increases have addressed about one-third of this reduction. The level of State funding for UC was now at the same level as it was in 1997-98, when UC had 75,000 fewer students, one less campus, and fewer degrees and programs. On a per-student basis, UC core funding, including both State funding and tuition, was currently 25 percent less than it was in 1990. The University has absorbed some of these reductions through administrative efficiencies, but for the most part, these reductions have undermined the quality of UC’s core academic programs, through freezes on faculty hiring, stagnating faculty salaries, insufficient support for graduate students, and increased student-faculty ratios. The University hopes to take advantage of the stability of the next few years to address and reinvest in quality. (Minutes pp 3-4)

Mr. Bostrom went on to note that UC newly contributes an employer share to the pension that is $800M this year and will be $1 billion next year--which is equal to about a third of the state's general fund share.  The result was depicted in the Budget for Current Operations 2013-14:
This UCOP chart shows a $2.9 billion structural deficit in four years time, on the current budgetary trajectory. Clearly there is little chance for UC "to address and reinvest in quality." There is also an ongoing, serious budget crisis on a systemic level.


Governor Brown's budget offers two colliding frameworks.  One is that "The state must begin to reinvest to improve the quality and affordability of California’s system of higher education."  The second is that the state's universities have more than they need and have again asked for too much.  The second framework dominates the first.

The Governor presents the latter in detail: UC has asked, he says for a budget increase that is three times greater than the growth in state personal income, all while making itself unaffordable and being unproductive: "just 60 percent of students earn a degree in four years at UC" (and 16 percent, he notes, at CSU).  He also implies that tuition hikes have been gratuitous as well as damaging. He further suggests that any real gap can be closed with more technology.  There is more than a hint that California higher ed is a welfare queen that is unable to reform itself. In this context, before it gets anything more, it needs to be subject to a kind of welfare reform from outside.  Thus even as he calls for reinvestment, he justifies the small (and in the context of the cuts, a net negative investment) through a paired framework of the greedy undeserving.

How can public universities confront an austerity trap constructed out of this ambivalent double framework? How can they escape an austerity trap when when laid with the skill of the original Austerity Democrat Jerry Brown?

In fact there are remedies that would work, were they in fact implemented.

  • Constantly correct mistakes in the public discourse.   The $250M increase was widely viewed as good news for UC and CSU.  Bob Samuels' analysis is an exception, and is essential reading for those wondering whether UC's decline will ever but be halted. But nearly all coverage (UC FA Blog, CSU Chancellor's office, Nature, Chronicle of Higher Education) reported  that UC and CSU got good deals. One major reason is that UCOP offered its standard uncritical gratitude to the governor, rather than also politely pointing out that it asked for a 6 percent increase in state funding, not 12 percent, recalling the previous year's $750M cut, noting projections of large budget surpluses over the next five years (Chapter 1, Figure 2) and sustained personal income growth of 4-5% per year (Chapter 2, Figure 2), and calling for more than a partial backfilling of existing deep budgetary holes.  Public universities need truth squads.  As it is, the dominant framework assures continuing, deepening inadequate resources.
  • Explain clearly that technological improvements will not close the budgetary gap.  Unfortunately UCOP is a negative example here: it promised $500 M in savings through technology efficiencies that have yielded about a tenth of that (see links halfway down this post on the Regents' retreat). And it is gearing up a new round of technology promises for this week's Regents meeting, now in the form of online education.  I defy anyone to find meaningful cost savings in the gradual introduction of quality (blended) online instruction to any of higher ed's segments. I invite you to scour the full rush transcript of the MOOC meeting at UCLA last week; or to read full scale investigations of online impacts like Taylor Walsh's pro-tech Unlocking the Gates, which shows for example that simply posting course materials in the case of MIT's Open Courseware program nets the university negative $4M annually (page 84); or to go to the source of the original analysis of academia's "cost disease," William J. Baumol and his new book The Cost Disease; or to contemplate the extent to which online providers expect not to make money by offering newly cheap university curricula but by selling referrals and other ancillary products by competing with universities.  Or picture yourself as a venture capitalist, and ask if a one-time $10M investment has ever in history closed a $2.9B gap. Technology has become a source of budgetary delusion and fake solutions and this has to stop.
  • Define desired results of a 21st century university degree and show what it costs. Public university administrations have not explained what current instruction really costs and why. The faculty in its official capacity has not defined the processes, practices, and outcomes that it expects from 21st century education in conjunction with society. (There are many scholarly exceptions but these are not part of official discourse.)  People will pay taxes for concrete benefits whose cost structure has been clearly justified--research costs included. Three major cut cycles later, most of this work still lies ahead.
  • Tie higher education funding to personal income growth.  This would vastly improve public university funding if it also comes with an elimination of disproportionate cuts. Although tuition rises faster than inflation, public funding has risen well below income growth. Stan Glantz and I are circulating an op-ed on this subject and it will appear somewhere--possibly in this space--later this week.

My main point is that we can change a lethal public discourse about higher ed.  These measures would work: they simply haven't yet been tried on any decent scale.

Chris Newfield 15 Jan, 2013

Tips to Cut Cost on College Education

Posted by Michael M.K. Tuesday, January 8, 2013 0 comments
Every mother or father understands of the fact that they have to invest lot cash for their child's schooling. Many anticipate these expenses and try to invest less towards college tuition and higher knowledge fees. Not all the mother and father are able to preserve enough cash. It becomes difficult for them to strategy on pension benefits. As a result they send their children to an average or a average higher knowledge, that too after spending lots of money. But there are some brilliant mother and father who gather all the necessary details and invest less accordingly and invest get make their children be a part of in their desire higher knowledge. If you are the mother or father of a college-bound student, you may be thinking and concerned how you could afford for your child's knowledge. To get the children be a part of their desire higher knowledge may impacts the pension plans of some mother and father. In such a situation, grants and sports grants performs vital role in every past or present student's life.

There are ways to cut price on schooling and invest less towards the pension strategy. There are several economical helps available for almost all the mother and father. It is noticeable that many middle and upper-class family members were able to reduce the price of their child's knowledge by planning in enhance. Thus they don't choose any other means for their child's knowledge.


Many mother and father thoughtlessly believe that they will get a solution for economical aid from their child's assistance advisor or from the economical aid night. Unfortunately those mother and father end up in paying large amount than needed. It is said that secondary university assistance therapists are not trained to advice mother and father on economical helps. They are just intended to assist in submitting the types. It is same in the case of economical aid night time. In most cases these ability may not be conscious of the techniques and describing those to aid the mother and father.

One of the significant things to keep in mind before applying is to check whether those educational institutions have the ability to prize grants to their learners, because, most of the educational institutions have very little to provide away. Choosing the right educational institutions in enhance which can provide its best economical aid to the learners can reduce your visit to the university thereby saving your cash.

According to the report from the Division of Education, 90% of the economical aid types are posted with any errors. Every simple and reckless error can end up in rejecting the types. To reprocess your form, it will take another 4 to 6 weeks. As many economical helps are granted on first-come, first-served basis, and publish the types promptly, such errors are likely to happen. Due attention and care while posting such types can help you to helps you to save lots of money. You can even get tax benefits when discussed with a good advisor who understands of techniques and techniques.

School and Higher education Success Tips

Posted by Michael M.K. 0 comments
School grounds around the planet are loaded with group bing lovers. Remaining uni isn't easy. Of course, you need to create a research plan, motivate yourself, tests are more complicated and examinations are challenging. They say the first 7 days is the challenging and for many individuals, that's true. To accept all that life as an excellent pupil has to offer, there are many traditions you need to join in and notice. Here, we hand you your success information for getting through your first 7 days of university.

One: Making friends

Its definitely one of the challenging things to do, but there are many ways to make new friends. If you're living in an excellent style of housing, try to spend in the public places of the house like the living room, kitchen or dinner area.
Take to be able to socialize with individuals either at uni bar events, higher education pub crawls, meals or be a part of a wearing group. You could indication up to be aspect of a group like a studying group, a movie group or a bottles group. It's also important to really know the people and some women in your course. They help with preparation, present you to other individuals and you're learning the same level so possibilities are that your passions will be quite similar.

Two: Going out

Uni is all about adopting everything new and different about being in a new place with new individuals. Sure, we anticipate and motivate you to hit the guides once in a while, but allowing your hair down is also a huge aspect of being an excellent pupil. Don't just think the surge of pub crawls, uni cafes, events and game night time are only in the first 7 days. Let me tell you, they are on through the entire term. Remember to consume loads of water between beverages and just before you head to bed. Take some natural vitamins like Berocca and have a significant food before going out on the alcoholic beverages.

Barrack Obama urges Congress to act on student loans

Posted by Michael M.K. Thursday, January 3, 2013 0 comments

Rep. Bill Cassidy of Louisiana calls for repeal of health-care law

NEW YORK (MarketWatch) — President Barack Obama is urging Congress to reach agreement on a bill to fund transportation projects and move to stop student-loan rates from doubling.
“We are seven days away from thousands of American workers having to walk off the job because Congress hasn’t passed a transportation bill. We are eight days away from nearly seven and a half million students seeing their loan rates double because Congress hasn’t acted to stop it,” Obama said in his weekly radio and internet address. See full video and/or transcript.
“Let’s make it easier for students to stay in college. Let’s keep construction workers rebuilding our roads and bridges,” Obama said.
Democratic and Republican lawmakers are still at odds over how to pay for a $6 billion plan that would keep student loans from spiking from the current 3.4% rate on subsidized loans on July 1.
Senate aides from both sides on Friday said congressional negotiators appeared to be near a compromise that would extend the 3.4% rate for another year, the Associated Press reported.
The Federal Reserve Bank of New York in May said student loan debt increased this year to $904 billion, even as other types of consumer debt declined. See Fed release on quarterly report showing student-debt growth.
In the Republican reply to Obama’s weekly address, Louisiana Rep. Bill Cassidy said if the U.S. Supreme Court does not repeal the whole health-care law, then Congress should.
“Unless the court throws out the entire law, we should repeal what is left and implement common-sense, step-by-step reforms,” Cassidy said. Read transcript/watch video on this site.
The high court is expected to rule on the law, the Affordable Health Care Act, by the end of the month, which would mean to the week ahead.
The court’s options include upholding it or repealing all or portions of the legislation, including its mandate that most individuals carry health insurance.
Most of the estimated 50 million currently without insurance would be able to get it through taxpayer-subsidized coverage. Some people, such as illegal immigrants, would be exempt from the mandate.

Source : dumboanddonkey.blogspot.com/2012/06/obama-urges-congress-to-act-on-student

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