Switzerland Finance – Immo Gironde http://immo-gironde.com/ Sun, 18 Sep 2022 15:00:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://immo-gironde.com/wp-content/uploads/2021/05/immo-gironde-icon-150x150.png Switzerland Finance – Immo Gironde http://immo-gironde.com/ 32 32 With $968m in loans, India overtakes China to become Sri Lanka’s top lender https://immo-gironde.com/with-968m-in-loans-india-overtakes-china-to-become-sri-lankas-top-lender/ Sun, 18 Sep 2022 15:00:47 +0000 https://immo-gironde.com/with-968m-in-loans-india-overtakes-china-to-become-sri-lankas-top-lender/

Overtaking China, India has become the largest bilateral lender to Sri Lanka by disbursing a total of $968 million in loans in four months of 2022, according to a media report.

Notably, with its predatory lending policy, China has maintained its position as the largest bilateral lender to Sri Lanka over the past five years. From 2017 to 2021, China disbursed approximately $947 million. Of the total amount loaned, $809 million was secured in the form of market loans from the China Development Bank, ANI reported citing the Daily Financial Times (FT) report. The report obtained data from public finance.lk.

Read also : Sri Lanka will not participate in any turf wars in the Indian Ocean: President Wickremesinghe

According to the report, the Asian Development Bank (AfDB) has been the largest multilateral lender for the past five years disbursing $610 million in 2021.

Read also : Ex-Sri Lanka Prez Maithripala Sirisena suspects 2019 Easter bombings that left 269 dead

India disbursed $377 million and AfDB disbursed $360 million. The collective amount was equal to 76% of the total disbursements that were made to the island country until April 2022, ANI reported quoting Daily FT.

Read also : India set to secure Lanka port rights

On the other hand, the Permanent Representative of India to the UN, Ruchira Kamboj, informed about the funds that have been provided to Sri Lanka. At a joint annual UNGA debate on the reports of the Peacebuilding Commission (PBC) and the Peacebuilding Fund (PBF), Ruchira Kamboj said that India had provided 4 billion of food and financial aid to Sri Lanka.

“In our immediate vicinity, we continue to help our good friend and neighbor Sri Lanka achieve food security by providing nearly $4 billion in food and cash assistance over the past few months,” Kamboj said.

On top of that, India handed over 21,000 tonnes of fertilizer to Sri Lanka in August. India’s High Commission in Colombo, Sri Lanka, in its tweet, viewed the step as an initiative to enhance friendship and cooperation between the two nations.

Since the arrival of the COVID pandemic, Sri Lanka has been grappling with its worst economic crisis with extreme inflation in the country due to fuel and food shortages. During the crisis, India has been at the forefront in helping the nation and providing economic assistance to Sri Lanka.

The country is also facing an extreme crisis in foreign exchange reserves which has reduced its power to import essential goods, including fuel and food. People witness constant power cuts and gasoline shortages in Sri Lanka.

(With ANI entries)

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Is interest on personal loans tax deductible? | Personal loans and advice https://immo-gironde.com/is-interest-on-personal-loans-tax-deductible-personal-loans-and-advice/ Fri, 16 Sep 2022 14:27:00 +0000 https://immo-gironde.com/is-interest-on-personal-loans-tax-deductible-personal-loans-and-advice/

You can use a personal loan for many useful purposes, but borrowing money can be expensive. To keep costs down, you might be wondering: is personal loan interest tax deductible? The answer depends on how you spend the funds.

Here’s what you need to know about deducting interest on personal loans from your taxes — and what happens to your taxes when you don’t repay the full amount you borrowed.

When can you deduct loan interest from your taxable income?

The interest you pay on mortgages, student loans and business credit products is tax deductible, with certain limits.

There are, however, instances where you can deduct interest on personal loans. If you used the money for any of the following purposes, a tax deduction may be possible. Keep in mind that personal lenders may prohibit borrowers from using funds for these purposes, and there may be better financing options.

Company. If you used the funds for business expenses, you can usually deduct the interest. “You just have to specify that the loan was for this purpose and not for your personal expenses,” explains Babener. Sole proprietors can take advantage of this. “Maybe you’re a painter, walk pets, that sort of thing. You can take out a loan, based on your personal credit, to buy what you need for your business.”

Education. You may be able to deduct the interest on a personal loan when you use the money to eligible education expenses, such as tuition fees. But many personal lenders don’t allow borrowers to use the funds to cover post-secondary education, and student loans are better suited for that purpose.

Investments. You may also be able to deduct interest on a personal loan if the money purchased taxable investments such as stocks, bonds, and mutual funds. You will use the IRS Form 4952 to calculate the amount of investment interest you can deduct.

How do tax deductions work?

A tax deduction is a simple subtraction. Each deduction allows you to reduce your taxable income so you will be taxed on a lower figure. Interest deductions are more relevant to consumers claiming itemized deductions on their taxes.

The higher the interest rate and the longer the term, the more overall interest you will pay on a personal loan. The prospect of a personal loan interest tax deduction is attractive when the goal is to save money. But be sure to stick to the letter of the tax law when pursuing deductions.

“You don’t want to get a letter from the IRS because you wanted a $2,000 tax deduction that you weren’t entitled to,” says Paul Miller, CPA at Miller & Co. in New York. “Tax returns have a three-year retention period, but if there is fraud, there is no statute of limitations. There are many legal deductions. Cheating is not the only one to choose .”

Miller advises a conservative approach and checking with a CPA to make sure you’re doing everything right.

Can you be taxed on personal loan funds?

As you consider cutting costs, be aware that there is a situation where you will usually have to pay taxes on your loan proceeds. If the lender forgives or cancels all or part of the debt, the IRS may consider the income of the portion canceled.

Therefore, you may feel relief when you no longer have to make the payments, but you should be prepared for a higher tax bill.

The IRS expects you to report the canceled debt on your tax return for the year the cancellation occurred. You will most likely receive the IRS Form 1099-C from the lender, indicating when the debt was canceled and how much you no longer owe. So if you took out a $10,000 loan and the lender returned half of it, $5,000 can be considered taxable income.

How to save money on your personal loan?

Ultimately, you’ll want to borrow only the amount you need, get the lowest interest rate possible, and arrange to pay off the loan on time or sooner. This way you can minimize the amount of interest you pay. If you want to prepay your loan, check to see if your lender charges a prepayment penalty.

And if you’re able to deduct the interest because it really does qualify, do so. “You want to get as many deductions as possible so that you can effectively take advantage of tax laws to legally reduce your income tax,” says Gregg Munn Jr., Certified Financial Planner and Certified Public Accountant at Sax Wealth Advisors, headquartered in Sax Wealth Advisors. in New Jersey.

]]> Kennedy: The student loan crisis is eroding the middle class https://immo-gironde.com/kennedy-the-student-loan-crisis-is-eroding-the-middle-class/ Sun, 11 Sep 2022 05:22:55 +0000 https://immo-gironde.com/kennedy-the-student-loan-crisis-is-eroding-the-middle-class/

The hotel manager with a doctorate in geology.

The airline customer service agent with a master’s degree in public administration.

The ski resort recruiter with a bachelor’s degree in environmental studies.



And countless others with a college education and high student loans, but who are unable to find work related to their degrees, so they take jobs in customer service.

The common point ? An American economy without a recognizable middle class. The country must restore, strengthen and solidify a new middle class. This is vital for various economic and political reasons. One of the main benefits is solving the student debt crisis.



This is achievable in part by effectively raising taxes and then distributing the collected revenue across certain vital key economic sectors, and turning into action a long-discussed collaboration between the academic community and the private/public sectors.

There is some momentum building towards solving the country’s student loan problem. It’s a problem that affects 45 million people with a combined debt of $1.6 trillion.

Forgiving student loans misses the point. The Biden administration’s Aug. 24 decision to pardon up to $20,000+ and extend Covid forbearance through December is laudable. But that doesn’t get to the roots or provide a viable starting point for solving the real problem behind the student loan crisis.

Many students have borrowed five- or six-figure student loans to find work in their field of study. They did not take loans for the educational experience. Students did not pursue their studies to enter a service-based economy. The loans were accepted in the hope of reaching the middle and upper classes.

A common argument, especially from members of the silent generation, is that many students fail to find work in their fields of study. The argument is plausible to some degree, especially in the fields of social science, business, and art. There are often more applicants than positions (not necessarily in engineering and medicine, where the situation is reversed). And yet, it has become increasingly difficult for most college students to find work outside of customer service over the past decade.

The solution to the crisis isn’t to forgive student loans—it’s to create solid jobs for the middle class; positions that pay enough for students to pay off loans, own homes and raise families. Currently? These positions are far and rare between the two.

A strong middle class involves no-minimum/no-duty, middle/upper five-figure paying positions that allow students to repay their loans. It currently does not exist.

This is a task that I am not convinced Washington is ready to pursue because it may be politically costly in the short term, but with medium and long term benefits. It is an approach involving raising taxes and ensuring that the revenues generated are effectively allocated to projects that incentivize non-tertiary sector businesses to create viable jobs for the middle class.

A second approach involves collaboration between academia and the private sector. The idea involves colleges and universities working with non-government employers to ensure students gain skills/experiences that are appealing to employers. It is also about simultaneously equipping students with traditional academic skills.

Critics of the lawsuit argue that trade schools provide the aforementioned training. A trade school education is not attractive to students interested in biology, business, or sociology (for example). Trade schools provide the skills needed for plumbing, auto mechanics, electrical, cyber or other related fields – not the various non-technical and medical fields that many students are interested in.

The discussion between the university and the private sector began shortly after the start of the Great Recession. The idea, however, has not been developed, except by a small group of colleges/universities. This is a discussion that must turn into action on a national scale. The results would benefit the academic and private/public sectors.

The student debt crisis is not about racial inequality, as some Washington policymakers claim. It is not a free handout, as many people without a college education claim.

It’s about reinvigorating a sector of Americana that existed until the Great Recession. The middle class has driven America’s financial and industrial base for decades. It was an essential component of the American dream.

The crisis is about recreating, re-establishing and consolidating an aspect of Americana that encourages students to take out thousands of dollars in student loans. A new, stronger and more sustainable middle class can re-emerge, but not without some short-term political difficulties, but with medium/long-term benefits – benefits that thousands of student loan holders (including author who owes student loans himself, and has only found work in the customer service field).

Matthew Kennedy holds an MA in Diplomatic Studies from the University of Westminster in London.

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What do Utahns think of student loan relief? Reviews are mixed https://immo-gironde.com/what-do-utahns-think-of-student-loan-relief-reviews-are-mixed/ Mon, 05 Sep 2022 01:50:22 +0000 https://immo-gironde.com/what-do-utahns-think-of-student-loan-relief-reviews-are-mixed/

Utahns have mixed reactions to President Joe Biden’s student loan forgiveness plan. (pogonici, Shutterstock)

Estimated reading time: 4-5 minutes

SALT LAKE CITY – It felt like a weight of over 20 years was lifted off their shoulders.

Meg Palmer and her husband were relieved last week when they heard President Joe Biden’s announcement to forgive federal student loan debt.

“We’ve been paying them for so long that it’s now part of our billing routine,” said Palmer, of West Valley City. “We are really excited about this opportunity.”

Under the plan, borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for a $10,000 loan forgiveness. For Pell Grant recipients, the federal government would forgive up to an additional $10,000 of federal debt.

Palmer, who homeschools her two children, said the forgiveness plan will significantly reduce what she owes the government and free up about $400 from her family’s monthly payments.

Although the plan is popular with Palmer and his family — as well as others who responded to a recent KSL.com questionnaire — a poll conducted in May for the Deseret News and the Hinckley Institute of Politics shows that the Utahns are not really enthusiastic about the idea of ​​student loan forgiveness.

The results of that poll, involving 808 registered Utah voters, reflected low levels of support for federal loan forgiveness for all borrowers and slightly higher support — 14% — for partial loan forgiveness. . Partial loan forgiveness for low-income borrowers had the highest level of support, but even then it was only 17% overall and reached 25% among respondents with a college degree. graduate studies.

Chris Quick, of Cedar City, decided to return to college after serving a mission for The Church of Jesus Christ of Latter-day Saints and said taking out a loan was his best option for achieving his goals — which he finally did – when he graduated last spring.

“I can see how a plan might appeal to many students, especially if you’ve graduated and can’t find a high-paying job right away,” Quick said.

Despite owing more than $20,000 in student loans, Quick said he was not a fan of the recently passed student loan forgiveness plan.

“The way I see it, it’s very unfair to those who haven’t taken out loans, those who have repaid their loans and, more importantly, it’s not fair to taxpayers who eventually have to pay the bill,” Quick said. “I think it’s important for people to take responsibility for their own actions.”

Like Quick, Ruth Nelson knew her education at Brigham Young University would depend on student loans. With that in mind, she worked through college to put herself in a position where she eventually paid off all the loans.

Although she admitted she was not “an expert” on all the details of the plan, she said she thought it “placed an undue burden on people who may have chosen not to college experience because they couldn’t afford student loans.”

“This money isn’t coming out of nowhere, it’s going to come off everyone’s shoulders,” said Nelson, of West Valley City. “I’m afraid that with this bailout, in a sense, we’re really taking away some really good experiences that these students and alumni might have had in this struggle because I think we’re growing in some of these struggles that we’re going through in life. .”

Like respondents to the KSL.com questionnaire, opinions on the impact of the forgiveness plan on the economy differ from expert to expert.

Lawrence Summers, former director of the National Economic Council, said in a tweet that “student debt relief is an expense that increases demand and increases inflation”, indicating that inflation will be observed by an increase in tuition fees.

Joseph Stiglitz, chief economist at the Roosevelt Institute, written in The Atlantic that “whatever your view on canceling student debt, the inflation argument is a red herring and should not influence policy”.

Palmer said she’s heard that some people are upset with the plan because they often work multiple jobs to send their kids — or themselves — to school, a situation she knows well.

“My parents were blue collar and they were working all these extra jobs and I still had to take out loans,” Palmer said.

Ryan Welling took out student loans after graduating from Weber State University and decided to continue his studies at the University of Utah. He believes the outrage surrounding the plan points to a larger societal problem.

“People say, ‘Well, I’ve worked three jobs and haven’t been on vacation for 10 years. Yeah, you had a miserable experience doing that and now you want to force everyone else to have the same miserable experience?” Welling said.

Welling said while he has student loan repayments, the plan won’t affect him much, noting he’s “blessed” to be in a position where he can afford a loan-based repayment plan. revenue.

“It’s such a weird concept to me, like, why are you upset that someone else is getting help?” Welling asked. “Why not lighten their burden?

To request a rebate or rebate payments under the temporary changes, check the box Federal Student Aid Online Help Tool.

Related stories

Utah Higher Education’s Latest Stories

Logan Stefanich is a reporter for KSL.com, covering Southern Utah communities, education, business, and military news.

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Do you have student loans? California has special protections for you – NBC 7 San Diego https://immo-gironde.com/do-you-have-student-loans-california-has-special-protections-for-you-nbc-7-san-diego/ Sat, 03 Sep 2022 04:53:33 +0000 https://immo-gironde.com/do-you-have-student-loans-california-has-special-protections-for-you-nbc-7-san-diego/

It’s called a new era for students, with unique protections for the nearly 4 million school loan borrowers in California. It is through the California Student Borrower Bill of Rights, which helps with federal and private loans.

“What it did was add an extra layer of protection that was missing at the federal level,” said Celina Damian, ombudsman for student loan services at the Department of Financial Protection and Innovation.

This added layer has created new standards for student loan servicers, ensuring everything they do is in the best interest of the borrowers.

The law took effect in 2021 and requires student loan servicers to provide simple and accurate information, minimize fees, track backgrounds, and not use deceptive practices.

DFPI says Californian with federal or private student loans has the following rights:

  • Loan servicers should provide borrowers with accurate information about loan terms, repayment options, and benefits.
  • Loan servicers need to process and post loan payments in a timely manner.
  • Loan servicers must allocate any overpayments in a manner that is in a student borrower’s best financial interest.
  • Loan officers should minimize late fees – not to exceed 6% of any overdue amount.
  • Loan servicers must process documents in a timely manner.
  • Loan servicers must respond to a borrower’s qualified written request (QWR) within 30 business days.
  • If a student loan is transferred, the original loan servicer must notify the borrower of these changes at least 15 days before any payment is due.
  • Special protections are established for military borrowers, borrowers working in the public service, elderly borrowers and disabled borrowers.
  • If a loan officer fails to comply with the above conditions, a borrower can take legal action against them. This is called a “private right of action”.

The department also works to answer the questions linked to President Biden’s recent loan forgiveness program. Damian said not all details have been worked out.

“We are waiting to see what comes out of the Ministry of Education pipeline,” Damian said. “We work closely with them.”

In the meantime, the DFPI said you should gather all your loan information so you can prepare.

“Find out who your service provider is,” Damian said. “Make sure all your information is up to date with the Department of Education.”

If you have student loans, watch out for scams that start popping up.

“They know it’s happening and they’re trying to take advantage of it,” Damian said. “They even contacted me on my phone and I don’t have a student loan.”

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Podcast: Student Loans, Reviving a CMP Corridor, and Overdose Awareness Day https://immo-gironde.com/podcast-student-loans-reviving-a-cmp-corridor-and-overdose-awareness-day/ Thu, 01 Sep 2022 13:16:28 +0000 https://immo-gironde.com/podcast-student-loans-reviving-a-cmp-corridor-and-overdose-awareness-day/

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Podcast: Student Loans, Reviving a CMP Corridor, and Overdose Awareness Day







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On the podcast this week, Esther Pew, Ben Chin, and Mike Tipping discuss the federal decision to forgive student loan debt, the court ruling on the CMP corridor, and the record overdose death rate in 2022.

The plus: Blues, bargains and pastries are our glimmers of hope.

Ask a question or leave a comment for an upcoming show on (207) 619-3182.

Subscribe to podcast feed here using any podcasting app or subscribe on Apple Podcasts.

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How to get payday loans online with instant approval and no credit check? https://immo-gironde.com/how-to-get-payday-loans-online-with-instant-approval-and-no-credit-check/ Tue, 30 Aug 2022 13:56:11 +0000 https://immo-gironde.com/how-to-get-payday-loans-online-with-instant-approval-and-no-credit-check/

With loans without a credit check, borrowers can be allowed to obtain a personal loan without the usual credit checks. Banks and other traditional lenders frequently perform rigorous credit checks to assess a borrower’s creditworthiness.

A thorough credit check includes reviewing borrowing and repayment history, defaults, late payments, and other important documents. You often won’t qualify for traditional loan products if you have a poor credit score, a history of missing payments, defaults, and underutilization of your credit limits.

A “soft credit check”, which takes into account non-credit score variables, is required for loans without a credit check. The lenders who offer these loans make inquiries about borrowers’ repayment history, past due loans to other businesses, and current work and income situations.

How do no credit check loans work?

PaydayChampion is a place where you can get a loan online without checking your credit. Filling out an application is easy. When you work with a state-of-the-art lender, your loan application can be approved in hours or even minutes. If you need money right away, you can often apply for a loan online and get the money the same day.

You must provide information about your employment and bank accounts in order to qualify for a loan (to verify your income). The loan amount and terms you are eligible for are determined by online direct lenders using this information, your recent payment history and your total credit usage.

What are the types of loans without credit check

Payday loans and personal loans are the only two categories of loans that direct lenders offer without requiring rigorous checks.

Payday loans

Payday loans are a common but risky short-term financing option. These loans can be approved in minutes and are meant for sudden and urgent situations.

PaydayChampion online payday loans are available and the money is deducted from your next paycheck to pay off the debt. Usually they have a two-week term. Personal loans often have high interest rates because they are meant to be taken out quickly. Payday loans may seem like a good option, depending on your financial situation. The likelihood is high, however, that an installment loan will turn out to be a wiser choice.

Although they present themselves as a good option to meet unexpected expenses, payday lenders make it very difficult for borrowers to make timely payments due to their high interest rates and short loan periods. repayment. Also, if you are unable to repay the loan on time, the lender will undoubtedly charge additional fees and interest to extend the loan. Payday loans should generally be avoided as they can lead to missed payments and a cycle of debt that is difficult to escape. You can get a better repayment plan from other lenders without paying extra.

Personal loans

Personal installment loans are often considered a safer and more economical alternative to payday loans because they have longer terms and lower interest rates. Additionally, compared to the typical payday lender, many personal installment lenders will provide a superior customer experience.

Over a series of monthly payments, the full amount borrowed, plus interest and other fees, is repaid. This way, you won’t have to repay the entire loan at once. Plus, managing lower monthly payments is much easier and won’t strain your budget. Also, compared to most payday loans, personal installment loans are generally more reasonable. Plus, you can usually find a personal installment lender who will give you a loan without a rigorous credit check. Therefore, you won’t need an impeccable credit score to be accepted.

Do yourself and your bank account a favor and select a less risky option than expensive payday loans. Use our personal loan calculator to help you budget if you’re considering a bad credit installment loan.

Securities lending

Another illustration of a no credit check loan is this. An onerous title loan is a secured loan where the borrower must post collateral in exchange for the funds. The title of your car would act as collateral in this situation. However, if you are unable to repay the loan, the lender may sell your car to recover the money.

When you have bad credit, title loans can be an easy way to get secured money, but they still come with high fees and increased risk. It’s probably not a good idea to risk losing your car if you need it for work or to take the kids to school.

What advantages of loans do you get without credit check

You can get a loan without worrying about your credit history thanks to the simple application process and fast approval times for no credit check loans. Generally, there are no fees or penalties for early payments. Plus, repaying installments on time boosts your credit score because major credit bureaus track your payment activities. By doing this, you can boost your credit score and increase your chances of getting a better deal the next time you need a loan.

How do problems with no credit check loans occur?

The potential increased cost of no credit check loans is their biggest downside. Check your specific lender’s interest rates, as a loan without a credit check might have a higher interest rate. You may not be able to borrow the full amount you need because there are restrictions on how much you can borrow depending on lender and state laws. It is crucial to research the lender and the terms of any loan you are considering. In the long run, you could save a lot of money doing this.

There are many types of loans available. Plus, they all have unique terms, conditions, and interest rates. Before putting your signature on the contract, it is important to understand what these conditions are. Doing your homework before applying for a loan is the most crucial thing to keep in mind. Research is key, whether you’re looking for a no credit check loan, home equity line of credit, peer-to-peer loan, or another type of financing.

The best strategy for shopping around is to choose your lender and no credit check loans after doing thorough research. So disregard that eye-catching payday loan ad and look for a lender who can help your financial situation instead.

Huxley Forbes

Chief Editor at PaydayChampion

Huxley Forbes is the editor of PaydayChampion. He is responsible for PaydayChampion’s content strategy and helps produce loan reviews, student loan guides, and other materials to address financial concerns and help them save money. Huxley Forbes came to PaydayChampion as an author in 2011, when he joined as a writer. Over the ensuing years, Forbes helped build PaydayChampion from the ground up by becoming one of the senior members of the team.

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Canceling student loans gives borrowers financial leeway: NPR https://immo-gironde.com/canceling-student-loans-gives-borrowers-financial-leeway-npr/ Thu, 25 Aug 2022 21:18:03 +0000 https://immo-gironde.com/canceling-student-loans-gives-borrowers-financial-leeway-npr/

Americans with student loans react to President Biden’s debt cancellation plan.



MARY LOUISE KELLY, HOST:

The reaction continues to pour in after the announcement that the Biden administration will cancel up to $10,000 in federal student loans per borrower. And this amount goes up to 20,000 for low income Pell Grant recipients. This is a complicated and controversial subject. Some say the amounts are not enough. Others say loan forgiveness should not happen at all. But for those who have unpaid debts…

SEAN MANNING: The president’s announcement gives me incredible peace of mind right now.

KELLY: It’s Sean Manning here in Washington, DC. The discount plan cuts his loan balance in half.

MANNING: I didn’t think I was going to be able to repay those loans anytime in the near future. But now the situation seems at least manageable. Like, at some point, I could afford to do something crazy, like put down a down payment on a house before I turned 40.

ARI SHAPIRO, HOST:

Meanwhile, Carol Oldham in Boston says half of her and her husband’s loans will be forgiven.

CAROL OLDHAM: Which makes a huge difference in how much we pay each month, doesn’t it? It’s the difference between us having to be very careful about how we spend money and the rest of our lives and being able to have a little more freedom to put money back into the economy.

SHAPIRO: She says they are now considering buying a newer used car because their current car has struggled to keep running. But as grateful as she is, she wants to see the government address the root causes of the student debt crisis. And she particularly opposes those who view student loan forgiveness as a gift to the wealthy.

OLDHAM: If you’re rich, you don’t need to take out loans to begin with. And so, generally speaking, people who have a lot of loans tend to be people who are not part of the more advantaged part of society.

SHAPIRO: And as to the idea that it’s not fair to those who have already repaid their loans…

KELLY: Well, Dylan Roth is one of them. In fact, he made his last payment on Tuesday just before the announcement.

DYLAN ROTH: And I felt very, very silly.

KELLY: Thankfully, under the new discount plan, Roth can request a refund for payments made since March 2020. Even without that benefit, Roth says he’s happy for anyone who sees their debt cleared.

ROTH: I don’t want other people’s lives to be more difficult out of spite of myself.

KELLY: Roth says he felt some temporary rage for giving away a few months’ rent just before it was signed into law. But…

ROTH: But I think it’s silly to be mad at debt cancellation. If you never want conditions to improve for the people who come after you, then nothing will ever improve.

SHAPIRO: It’s Dylan Roth in Brooklyn, Carol Oldham in Boston and Sean Manning in Washington, DC

Copyright © 2022 NRP. All rights reserved. Visit the Terms of Use and Permissions pages of our website at www.npr.org for more information.

NPR transcripts are created in peak time by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative recording of NPR’s programming is the audio recording.

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Deadline Approaching to Apply for Maryland Student Debt Relief Tax Credit https://immo-gironde.com/deadline-approaching-to-apply-for-maryland-student-debt-relief-tax-credit/ Wed, 24 Aug 2022 01:25:20 +0000 https://immo-gironde.com/deadline-approaching-to-apply-for-maryland-student-debt-relief-tax-credit/ Marylanders paying off their student loans still have time to apply for debt relief to help reduce the amount they still owe.

Marylanders paying off their student loans still have time to apply for debt relief to help reduce the amount they still owe.

The deadline for the State Student Loan Debt Relief Tax Credit program for the 2022 tax year is September 15.

“Going to college may seem out of reach for many Marylanders given the huge expense, but tax credits like these help make it possible. I urge everyone to apply now before the time is up,” Comptroller Peter Franchot said. “Any way to reduce the cost of higher education is a big plus.”

The program works by providing an income tax credit to residents of Maryland who make qualifying undergraduate and/or graduate education payments on loans from an accredited college or university. It is administered by the Maryland Higher Education Commission (MHEC).



You do not need to be a college graduate to qualify, but you must declare Maryland residency for the 2022 tax year and file 2022 Maryland state income taxes to qualify. be eligible. You must also have borrowed at least $20,000 in student loan debt and still have an outstanding balance of at least $5,000 when applying for the tax credit.

Applicants who have a higher debt-to-income ratio, graduated from a Maryland school, did not earn a tax credit the previous year, and were eligible for in-state tuition will be given priority. If you attended an out-of-state school, you are still eligible for the tax credit, but you may not receive as large an amount as those who attended a school in Maryland.

More than 40,000 Marylanders have received the tax credit since it was introduced in 2017, and more than $40 million has been distributed through the program, a press release from the comptroller’s office said.

Some 9,000 residents received the credit in 2021, with those who went to school in the state receiving more than $1,000 and $875 for out-of-state schools.

For more information on how to apply, visit the Maryland Commission on Higher Education website.

On Wednesday, President Joe Biden is expected to announce a decision to cancel up to $10,000 in federal student loans for many Americans and extend the payment pause until January, the Associated Press reported.

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ICSC Consent Order for Buy Now Pay Later Loans | PC Weiner Brodsky Kider https://immo-gironde.com/icsc-consent-order-for-buy-now-pay-later-loans-pc-weiner-brodsky-kider/ Mon, 22 Aug 2022 18:28:23 +0000 https://immo-gironde.com/icsc-consent-order-for-buy-now-pay-later-loans-pc-weiner-brodsky-kider/

The California Department of Financial Protection and Innovation (CFPI) recently entered into a consent order with a Florida-based company specializing in the supply and sale of “Buy Now Pay Later Loans” (BNPL). BNPL products are considered by CFPI to be a type of short-term financing that allows consumers to make purchases and pay for them at a later date, often without interest. Sometimes referred to as point-of-sale installment loans, BNPL products have become an increasingly popular payment option that has come under the regulatory umbrella of the CFPI. Following an investigation into the matter, CFPI determined the company engaged in the business of a financial lender in California, without obtaining the required license. Pursuant to California Financial Code Section 22100(a), companies offering BNPL products must be licensed and, as an approved lender, must consider consumers’ ability to repay, are subject to rate caps and costs and must respond to consumer complaints.

As part of the Consent Order, the Company has agreed, among other things, to the following:

  • The Company will not engage in the business of a financial lender in California unless it obtains a license to conduct such business;
  • The company will pay an administrative penalty of $2,500 to the CFPI; and
  • The company will reimburse all fees paid to it by California consumers in connection with BNPL products.
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