Obama tackles student loan crisis

Washington, DC (PRWEB) August 21, 2013 On August 9th, the Student Loan Alliance (SLA) launched a broad strategic partnership with MortgageKeeper.com designed to ensure Americans needing assistance receive access to a wide range of resources. The SLA will be the exclusive provider of student loan counseling offered through MortgageKeeper and SLA will offer other supportive resources to student loan borrowers requesting assistance. From employment help and financial counseling to assistance gaining access to disability payments or home repair subsidies, there are hundreds of programs across the country designed to help people in crisis. Typically, counselors and other advisors to distressed student loan borrowers do not have information on these programs. Yet, if accessed appropriately, these services have the potential to help borrowers avoid default or become current on their loan.
Source: http://www.sfgate.com/business/press-releases/article/Student-Loan-Alliance-SLA-Partners-with-4750970.php

The vast majority of these loans will be paid in full with interest, which is why the Congressional Budget Office projects that the federal government will make a massive profit of more than $184 billion in the next 10 years. Far from being financially explosive, the forgiveness ultimately earned by the small percentage of borrowers expected to complete 10 years of qualifying public service will probably be just a drop in the gigantic bucket of student loans. The authors also assert there is nothing to stop every graduate school from including all of their graduates in an LRAP, not just those who commit to public service careers, by taking advantage of the 20- or 25-year forgiveness in income-driven repayment plans. However, they provide no evidence that schools are planning to do this, and the Student Loan Ranger finds it far-fetched that schools would embrace such a logistically difficult and ethically and legally questionable scheme or that the Department of Education would allow them to do so. [Learn which law degrees have the best return on investment .] Based on these arguments, the authors propose capping Public Service Loan Forgiveness at $30,000 and instituting an aggregate limit of $75,000 for all federal loans.
Source: http://www.usnews.com/education/blogs/student-loan-ranger/2013/08/21/understand-calls-for-loan-repayment-reform

Weve got a crisis in terms of college affordability and student debt, Obama said, before an enthusiastic crowd of students at the University of Buffalo. The speech reunited Obama with one of his most supportive constituencies students and the 52-year-old president reminded his audience he only finished paying off his college loans while he was in his 40s. The US Federal Reserve has estimated that there is nearly one trillion dollars in outstanding college debt in the United States. In 2011, the average outstanding amount of student loan debt for each graduate was $23,000 dollars. Obamas return to his role as champion of the middle classes, a focus-group tested message that worked to great effect last year, comes ahead of looming budget battles with Republicans. The president and Republicans on Capitol Hill will wage their latest bitter contest over the shape of next years budget and a requirement to raise the governments borrowing limit.
Source: http://news.in.msn.com/international/obama-tackles-student-loan-crisis

The White House Wants to Help You Make Smaller Student-Loan Payments

Adam S. Minsky, a Boston lawyer specializing in student loan law, said he has had several people contact him as they receive transfer notification. 4 Ways to Pay Off Your Student Loans Faster “They were contacted by a company they had never heard of before saying, We’re going to be your new loan servicer, please start paying us,” Minsky said. “Borrowers aren’t being notified until the transfer is just about to happen or has already happened. That can be really scary for borrowers.” How to Prepare for the Move Though the Education Department hopes the transition will go smoothly, as stated in the announcements, those with student loans may want to take a proactive approach to the changes.
Source: http://abcnews.go.com/Business/government-switch-student-loan-servicers/story?id=19975798

Student Loans: The New Calculation

Fri, Aug 23, 2013, 23:15 BST – UK Markets closed Which is better: student loan or paying upfront? Telegraph columnist Martin Lewis caused heated debate when he advocated using loans. Nicole Blackmore looks at the arguments By Nicole Blackmore | Telegraph Thu, Aug 22, 2013 19:45 BST Yahoo! Finance UK/Chris Young/PA Wire – Related Content Article: Where to invest in student property Yahoo! Finance UK – Tue, Jul 23, 2013 16:18 BST It is a dilemma not just for students heading off to university at the end of summer but for their parents and grandparents as well. Which is the better financial decision: to borrow the money to pay tuition fees and other costs using the http://www.obamastudentloanforgiveness.net/ new student loan arrangement, at the risk of being indebted for decades?
Source: http://uk.finance.yahoo.com/news/better-student-loan-paying-upfront-184510141.html

Which is better: student loan or paying upfront?

On the plus side, there is stability. Prior adjustments to student loan interest rates were unhelpful. Students found themselves in situations where they did not know until the 11 th hour what their interest rate was going to be. In the new bill, the rate is locked in and has no expiration date. Rates on federal college loans will not double and a long-term fix will be in place.
Source: http://finance.yahoo.com/news/student-loans-calculation-130109975.html

Government Switches Student Loan Servicers: What You Need to Know

… A partial financial hardship is when the 10-year standard monthly payment on what you owed when you first entered repayment is more than 15% of discretionary income. You must have a partial financial hardship to be eligible for IBR. … IBR started in 2009. * Income Contingent Repayment, as described by the Department of Education : This plan gives you the flexibility to meet your Direct Loan obligations without causing undue financial hardship.
Source: http://www.theatlantic.com/politics/archive/2013/08/the-white-house-wants-to-help-you-make-smaller-student-loan-payments/278948/

Wal-Mart Sees Forex Hurting Sales After $680 Million Hit

Elevated unemployment, higher taxes and rising gas prices that are hurting U.S. consumer demand also prompted the lower forecast, executives said. JPMorgan Chase & Co.s Global FX Volatility Index reached 11.96 percent on June 24, the most since June 2012, after rising at the fastest pace since the collapse of Lehman Brothers Holdings Inc. in 2008.
Source: http://www.bloomberg.com/news/2013-08-16/wal-mart-sees-currencies-hurting-growth-after-680-million-hit.html

FOREX-Dollar rallies, reversing course, but doubts remain

COT explanation: The weekly cot report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and non-reportable traders (usually small traders/speculators). Individual Currencies Large Speculators Positions in Futures: The large non-commercial net positions for each of the individual major currencies directly against the US dollar last week saw weekly increases for the euro, Japanese yen, Swiss franc, Australian dollar, New Zealand dollar, Canadian dollar and the Mexican peso while only the British pound sterling had a declining number of large speculator positions for the week. Notable changes: Euro net speculative contracts improved for a fifth straight week and are at their highest level since June 25th. The Australian dollar large spec contracts saw their largest gain since March last week as the Aussie may have seen a potential short-term bottom in trader sentiment after falling to the most bearish position of its recent decline on August 6th.
Source: http://countingpips.com/2013/08/large-forex-speculators-trim-us-dollar-bets-for-4th-straight-week/

ForexMinute Reports IC Markets Now Offers Multilingual Trading Platforms

The recent figure was quite worrying: a drop to 47.7, which reflects not-so-mild contraction. A small recovery to 48.3 is expected. This has implications on the Australian dollar and the Japanese yen, as well as other currencies. US Unemployment Claims: Thursday, 12:30. US jobless claims fell nicely to 320K, following 335K in the previous week. This data was 14K lower than predicted by analysts, indicating the job market recovery is picking up.
Source: http://www.fxstreet.com/analysis/forex-weekly-outlook/2013/08/16/

Forex Weekly Outlook August 19-23

“Ultimately, rising bond yields will support the dollar, but not against such a big change in the backdrop.” Ten-year Treasury yields traded at a two-year peak of 2.866 percent, while the gap between two-year Treasury yields and their Japanese counterpart rose to the highest in six weeks, Reuters data showed. Part of the reason for yen bids volatility was positioning ahead of the weekend. Japanese investors were missing the action this week due to the Obon holiday, but should be returning late Sunday New York time. Some of the strength in the dollar/yen in New York trade on Friday was buying ahead of that influx of investors.
Source: <a href='http://www.reuters.com/article/2013/08/16/markets-forex-idUSL2N0GH1B520130816&#039; best inverse etfs >http://www.reuters.com/article/2013/08/16/markets-forex-idUSL2N0GH1B520130816

FOREX-Yen edges up vs dollar as Japan officials dismiss tax cut talk

Aso’s comments that corporate tax cuts would not have an immediate impact was seen as a blow to that view. Losses against the yen dragged on the dollar index. It was last down 0.1 percent at 81.509. The dollar’s fortunes have been tied to when the Federal Reserve would “taper” stimulus and the uncertainty saw it slide more than 4 percent between July 9 and Aug. 8.
Source: http://in.reuters.com/article/2013/08/15/markets-forex-idINL6N0GG0WN20130815

Large Forex Speculators reduced US Dollar bullish bets for 4th straight week

Thus, offering mobile Forex trading experience to traders, it has carved a niche for its services. These trading features can also be used while on the move, as they are also browser based trading platforms. About ForexMinute.com ForexMinute, the worlds leading Forex news and views portal, has become a one-stop solution provider for Forex traders and brokers as well as Bitcoins news. It provides all the required tools to individuals to become a professional Forex trader. Also, it helps Forex brokers provide high-end user-friendly trading experience to traders with an array of resources e.g. financial news by the minute, fundamental analysis, technical analysis, Forex tools and others.
Source: http://www.sfgate.com/business/press-releases/article/ForexMinute-Reports-IC-Markets-Now-Offers-4741028.php