US announces expansion of COVID-19 emergency flexibilities to additional federal student loans in default
FILE - In this Aug. 9, 2017, photo, flags decorate a space outside the office of the Education Secretary at the Education Department in Washington. President-elect Joe Biden has chosen the education commissioner for Connecticut and a former public school teacher to serve as education secretary. (AP Photo/Jacquelyn Martin)WASHINGTON – On Tuesday, the US Department of Education announced an expansion of the pause on federal student loan interest and collections to all defaulted loans in the Federal Family Education Loan Program. This action will help more than one million additional borrowers burdened by debt during the COVID-19 pandemic. Related: DeVos suspends federal student loan payments through January 2021
Notable Deaths in 2021
Notable Deaths in 2021Diana Walker/The LIFE Images Collection via Getty Images A look back at the esteemed personalities who left us this year, who'd touched us with their innovation, creativity and humanity. But George Segal (February 13, 1934-March 23, 2021) earned his Oscar nomination for Mike Nichols' bitter drama, "Who's Afraid of Virginia Woolf?" Lawrence Ferlinghetti Janet Fries/Getty Images Writer, activist, publisher and bookseller Lawrence Ferlinghetti (March 24, 1919-February 22, 2021) was a San Francisco institution. In 1992 the curious King told "60 Minutes" correspondent Mike Wallace that his only worry was dying. Her most notable role was in the sitcom "That '70s Show" as Laura Prepon's hippie mother, Midge, who embraced the women's liberation movement.cbsnews.com
Loans available for Michigan businesses, others damaged by fall rain
LANSING, Mich. – Michigan small businesses, agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations damaged by excessive rain Sept. 30 can apply for federal loans. The low-interest Economic Injury Disaster Loans are available in Alger, Cheboygan, Chippewa, Emmet, Luce, Mackinac and Schoolcraft counties, the U.S. Small Business Administration said. Loan amounts can be up to $2 million with 3% interest rates for small businesses and 2.75% for private nonprofit organizations of all sizes. AdUnder this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. Except for aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers and ranchers, the agency said.
Here are benefits to refinancing your mortgage
While your mortgage interest is tax deductible, a lower mortgage payment or cutting back on the number of years on your note is a great idea if you haven’t done so recently. Nathan Mersereau, certified financial planner and CEO of Planning Alternatives, said rates this low make it imperative to at least look into financing. If you have the opportunity to refinance, lowering your monthly mortgage payment is going to save you money that you can immediately put in your pocket or apply to your goals,” Mersereau said. Why it’s important to have your personal financial paperwork in orderREAD: Year End Money: Why calculating your net worth is importantThe Dollar Stretcher editor and founder Gary Foreman said there are many things to consider when refinancing your mortgage. Their rates may be a lot cheaper than the rates that you got when you first bought your car.”Watch the full report in the video above.
TCF Bank giving out loans to minority, women-owned businesses
WAYNE COUNTY, Mich. Theres a big boost coming for minority small businesses in the city of Detroit. TCF Bank announced a new $1 Billion loan commitment to minority and women-owned small businesses. Black owned, woman owned,said Jamesha Lucas with Bronzed N' Glow. Its a title, Jamesha Lucas with Bronzed N' Glow said, she is very proud of, Bronzed N' Glow is a modern twist to beauty supply retail. Gary Torgow with TCF Bank said he understands, this is a tough time for businesses, especially if youre black owned.