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Exam Code: AVA Practice test 2022 by team
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Killexams : Financial Accredited student - BingNews Search results Killexams : Financial Accredited student - BingNews Killexams : You get some student loan debt erased, but what about the rest of it?

“January is going to be here before you know it,” says Damian Dunn, a certified financial planner and vice president of corporate financial wellness platform Your Money Line.

Payments resume in January 2023. But, Dunn says, with upcoming holidays, between now and January is prime spending and borrowing time for many people. As a result, many borrowers may be overextended in January if they don’t plan now.

They won’t just pick up where they left off in March 2020, when payments and interest were halted. Payment amounts and options could be different.

Borrowers can expect their remaining loan balance to be re-amortized after cancellation. That means their cancellation amount, either $10,000 or $20,000, will be deducted from the total they owe. Their time to payoff won’t change, but they will get a new monthly bill based on the recalculation of the remaining balance. Many borrowers will see a smaller bill as a result.

Here’s what to do next.

If you work in public service

Prioritize completing the Public Service Loan Forgiveness, or PSLF, waiver if your work makes you eligible. The Department of Education can count more payments toward the 120 needed for forgiveness under the waiver. This means you could see full forgiveness much sooner.

The last day to apply for the waiver is Oct. 31.

You can still apply for PSLF after the waiver ends, but the terms won’t be as generous.

If you’re comfortable with your regular payments

If you’ve been making regular payments during the pandemic pause without financial strain, continue to do so. Keeping up payments during the pandemic means you saved money because your dollars went straight to the principal balance.

However, if you weren’t making payments during the pandemic, start setting aside your payment amount now to ensure it will fit back into your budget. By doing so, you could pay a three-month lump sum once payments resume.

If your student loan bill is smaller after cancellation is applied, keep making your original payment amount if you can. This way, you’ll save money on interest costs and pay down your debt faster.

Making space in your finances allows you time to adjust your budget if necessary. But you have other options if you can’t make it work.

Read: Were your student loans forgiven? Here’s where to put some of that extra cash now

If you need smaller monthly payments

If you know you’ll have problems making your monthly payments, contact your servicer to discuss options for income-driven repayment, or IDR. Four income-driven repayment plans currently set your payment at 10% of your discretionary income. Payments could be set at $0 if your income is low.

These plans also wipe out your remaining balance after 20 or 25 years.

Borrowers can also look forward to a new income-driven repayment option, announced alongside cancellation. The new plan will decrease the amount of income that counts as discretionary and halve the payment percentage to 5%. It will also cut the time to forgiveness to five years for those whose original total loan balance was $12,000 or less.

While unpaid interest continues to accrue and capitalize under existing plans, the government will cover unpaid interest with the new IDR. This means borrowers who want to decrease their monthly payments — potentially by half or more — and don’t mind extending their repayment term could benefit most from the new plan.

However, high-income borrowers may not see lower payments with income-driven repayment.

Related: Forging ahead on federal student loan forgiveness — what’s next?

If you want to pay off your debt faster

If you want to pay down your debt faster and don’t want to refinance with a private lender, the best strategy is:

  • Stick with the standard repayment plan.
  • Make extra payments and ask your servicer to apply them to the loan principal.
  • Make biweekly instead of monthly payments.

Consider refinancing if you have private student loans or federal debt carrying higher rates.

With student loan refinancing, borrowers replace their existing loan with a new one. Ideally, the new loan will have a lower interest rate and more favorable repayment terms.

Student loan refinancing rates have been rising, but borrowers with the strongest credit profiles may still find a lower rate.

Borrowers shouldn’t refinance until at least 2023 — once cancellation is applied to their account and the interest-free forbearance is over. If you refinance, your federal student loans will become private and no longer eligible for federal benefits, like forgiveness and IDR.

The decision to refinance should come down to the long-term financial benefit, says Clark Kendall, a certified financial planner and president of Kendall Capital Management. For example, if you can get from a 7% rate to a 5% rate, you can save that 2% or increase your 401(k) contribution.

Also see: You had $10,000 in student loan debt canceled. Should you pay off your credit-card bill — or take advantage of the bearish stock market?

Dunn cautions borrowers also to consider their risk of losing federal benefits. “I would double-check the math and make sure you are going to be in a better position,” he says. “Maybe a slightly smaller payment doesn’t outweigh the overall benefit of having federal protections.”

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Cecilia Clark writes for NerdWallet. Email:

Thu, 13 Oct 2022 21:01:00 -0500 en-US text/html
Killexams : AG Morgan Financial Advisors: Scholarship for Business Students Available Now

NEW YORK, Oct. 12, 2022 /PRNewswire/ -- The AG Morgan Financial Advisors Scholarship for Business Students is a scholarship available for business students who live in the US.  The scholarship is available for all business students in the US studying on the road to becoming future financial professionals in the future. Those who are enrolled in an accredited university undertaking a business course can apply for the scholarship; students who are in high school and would like to study a business course at a university can also apply. AG Morgan Financial Advisors are offering $1,000 in funds for the most deserving business student. The scholarship will be offered based on an essay competition. By offering their scholarship, the firm hopes that it will provide a little relief for a star student and generate awareness for more funding to become available.

A.G. Morgan Financial Advisors would like to reward the most deserving student with a scholarship as a way of easing the student's financial burden. They are also hoping that the scholarship will also raise awareness to the issues that financial students face on the road to becoming financial professionals. They hope that their scholarship will further open more opportunities for more business students to get the help that they deserve. All eligible students are advised to take this opportunity to apply for the scholarship as a way of earning money for their tuition fees.

AG Morgan Financial Advisors is the firm behind the scholarship for business students. The firm is focused on helping people achieve their financial goals. They are known for their financial and wealth planning expertise. Through A.G. Morgan Financial Advisors, many people have managed to define their financial goals. The firm has financial advisors who are dedicated to helping people take care of their families. They acknowledge that education is a very important aspect of becoming successful in the business and financial industry. That is one reason why they are now rewarding the most deserving student with a scholarship to assist with their tuition fees. Students who are eligible for the scholarship should visit A.G. Morgan's financial advisor's official scholarship page for details and submit their application.



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SOURCE AG Morgan Scholarship

Wed, 12 Oct 2022 07:39:00 -0500 en-US text/html
Killexams : You Don’t Qualify for Student Loan Forgiveness: Now What? young single woman alone on couch laptop in apartment frustrated sad depressed_iStock-934913106 © fizkes / young single woman alone on couch laptop in apartment frustrated sad depressed_iStock-934913106

On Aug. 24, the Biden administration announced the Student Debt Relief Plan, a one-time assistance program for low- and middle-income families earning up to $125,000 for individuals or $250,000 for couples. The program erases up to $10,000 in federal student loan debt and up to $20,000 for Pell Grant recipients.

Find Out: States Whose Economies Are Failing vs. States Whose Economies Are Thriving

Also:Stimulus Payments Are Coming to These States in October

On Oct. 11, the administration unveiled the program’s application, a simple web form that is set to go live online any day. It requires applicants only to self-certify that they meet the eligibility requirements. Inevitably, some borrowers will be getting bad news.

“Student loan forgiveness can significantly impact your financial life and supply you a fresh start,” said Kami Hsueh, a certified student loan repayment counselor and board advisor at “Unfortunately, not everyone is eligible. Realizing you don’t qualify for student loan forgiveness could leave you devastated and unsure of what to do. However, student loan forgiveness is just one among many options. So, if it fails, it is time to consider other options.”

Appeal the Decision and Explore Your Options

If your application is rejected, don’t panic — that’s not necessarily the end of it.

“Most people do not know they can appeal the denial, which is a less discussed topic,” Hsueh said. “You can submit a complaint through the FSA feedback system, citing your reasons for complaining or proving you qualify. While it will take time for the investigation to be conducted and concluded, you could stand a chance of getting accepted.”

While you’re waiting for the results of your appeal, check with Federal Student Aid to see if you qualify for other relief initiatives including:

  • Public service loan forgiveness
  • Teacher loan forgiveness
  • Closed school discharge
  • Perkins Loan cancellation or discharge
  • Total and permanent disability discharge
  • Unpaid refund discharge

Take Our Poll: Do You Have an Emergency Fund Established?

Your Boss Has Every Incentive To Help — Ask About Assistance as a Benefit

Your employer might offer student loan assistance as an employee benefit — or might be willing to consider it if you ask.

“A strategy that borrowers often overlook is to ask their current employer to assist with student loan debt repayment or to seek a new employer who will,” said Patricia Roberts, chief operating officer at Gift of College. “Given the number of employees who are changing jobs and the employer cost that is associated with employee turnover, more and more employers are recognizing the need to offer student loan assistance as a financial wellness benefit to stand out in a competitive environment to attract and retain talented individuals.”

Roberts cited the CARES Act — which allowed employers to offer their workers up to $5,250 annually in tax-exempt student loan repayment assistance — and the Consolidated Appropriations Act, which extended the initiative through 2025.

Some employers might not know that Internal Revenue Code Section 127 allows them to take a $5,250 tax deduction for offering student loan repayment assistance — and they might jump at the chance to add a unique and enticing perk to their benefits package.

“Those who are currently employed should ask their employers whether they are aware of and willing to offer this benefit,” Roberts said. “Those who are currently looking for jobs should seek prospective employers who have such a benefit in place. With many employers unaware of their ability to offer tax-free student loan repayment assistance, an employee who asks about it may be greatly appreciated for bringing this timely development to the employer’s attention.”

Work With Your Lender

If your boss isn’t receptive to the idea, your lender certainly doesn’t want you to go into default and will probably be willing to work with you if you’re struggling to keep up with payments.

“Get in touch with your lender and work out a repayment plan that works for you,” Hsueh said. “Fortunately, there are different plans — e.g., the income-based repayment plan or the Pay As You Earn plan — which you can use to repay your student loan for federal student loans. If you took a private student loan, these options might not apply to you. However, you can still contact your lender and discuss payment plans that can work for you depending on your financial situation.”

Revise Your Holiday Wish List

With the holidays approaching, you could always ask friends and family to skip traditional gifts and contribute a comparable amount to your loan debt, instead.

“Rather than the well-intentioned shirt that doesn’t fit or another gift that may just add to the clutter in one’s home, a contribution of an equal amount toward outstanding student loan debt can help reduce the borrower’s stress level and the amount owed,” said Roberts, whose own college debt crowdfunding platform lets borrowers set up gift-based fund drives. “It’s an easy gift to supply and receive, and one that helps to Strengthen the well-being of the recipient. Friends and family may actually welcome the opportunity to save time shopping for just the right gift and instead help in such a meaningful way.”

Whatever You Do, Don’t Assume You Don’t Qualify

If you have federal student debt, you should apply whether you think you meet the qualifications or not.

“There really hasn’t been a final determination on eligibility for the one-time forgiveness program,” said Michael Lux, debt attorney and founder of Student Loan Sherpa. “Right now, the Biden Administration is focused on beating the lawsuits challenging the program. The rules are in flux, and bad news today may not be permanent. Borrowers should apply right away when the form becomes available, even if they don’t think their loans are eligible. A rejection one day could be a future approval if there is a rule change.”

More From GOBankingRates

This article originally appeared on You Don’t Qualify for Student Loan Forgiveness: Now What?

Mon, 17 Oct 2022 03:58:23 -0500 en-US text/html
Killexams : Time’s Almost Up to Apply for Bigger Student Loan Forgiveness

Full student loan forgiveness could be closer than you think under temporary rules for Public Service Loan Forgiveness, or PSLF — but time is running out to apply.

“They should rush to get this done because the program is far more inclusive than it's ever been in the past,” says Kristen Ahlenius, an accredited financial counselor and director of education at Your Money Line, a financial wellness company.

Payment requirements for the program are more lenient under a limited waiver that expires Oct. 31. Before the waiver, Ahlenius says, “PSLF was kind of this dismissed program for so long because it was so unachievable.”

The basic requirements for PSLF are to work for a qualifying public service employer, make 120 student loan payments and have federal direct loans. But the program has lots of caveats, which led to approval rates below 2% and furious, confused borrowers.

“People thought they were on track and submitted their application only to get a rejection,” says Betsy Mayotte, president and founder of The Institute of Student Loan Advisors. “In particular, that happened to people who had the wrong kind of loans and people who were on the wrong payment program.”

In addition to having direct loans, borrowers must make payments on an income-driven repayment plan to be eligible.

The PSLF waiver addresses those criticisms. It counts more time toward the required 120 months, including periods of hardship deferment, months with late payments and months not enrolled in income-driven repayment. It also opens the door to borrowers with Federal Family Education Loan Program, or FFELP, loans.

Here’s who should apply now and how to do it.

Who should apply now

Current and previous public service workers

Your job sector is the key criterion for the PSLF waiver. Your time with a qualifying employer must coincide with the time your student loans were in repayment.

These types of employment typically qualify:

  • Federal jobs.
  • State government jobs.
  • Local government jobs.
  • Tribal government jobs.
  • Not-for-profit organization jobs.
  • Military service.

Your employer is what matters — not what you do. Payments won’t count if you work for a private employer, as a government contractor or part time. Parent PLUS loans and joint spousal consolidation loans don’t qualify, either — no matter your job.

Check the PSLF employer search tool to make sure your employment qualifies. “You might be closer than you think,” Ahlenius says.

FFELP borrowers

FFELP loans normally aren't eligible for PSLF. If you first consolidate your FFELP loans into a direct loan, however, your previous payments will be counted toward forgiveness — thanks to the waiver.

The employment qualifications still apply.

Previously denied applicants

If you were denied PSLF in the past, you could receive additional months toward the 120 needed for forgiveness under the waiver.

The Department of Education said it is reevaluating previously denied PSLF claims and will contact borrowers whose accredited time is adjusted.

“If you haven’t heard anything, you should absolutely submit again,” Mayotte says.

How to apply

Applying for the PSLF waiver has only a few steps:

  1. Log into to make sure you have direct loans.
  2. Consolidate if you don’t have direct loans.
  3. Complete your employer certification form(s) with the required signatures dated by Oct. 31.
  4. Submit the form(s) to the Education Department.

You must complete a separate employer certification form for each eligible job. Using the PSLF help tool, available at, instead of the paper form can streamline the process and help prevent errors.

“Anybody that has any period of working full time for either a government employer, any 501(c)(3), you’ve got nothing to lose and everything to potentially gain,” Mayotte says.

Tue, 11 Oct 2022 17:27:00 -0500 en-US text/html
Killexams : Eastern Washington University invites community to participate in accreditation forum

CHENEY, Wash. - The Northwest Commission on Colleges and Universities (NWCCU) will visit Eastern Washington University (EWU) Oct. 17-19 as part of its normal accreditation process.

EWU has encouraged students, faculty and staff to attend forums to provide input to NWCCU as its team evaluates the school. You can find information on how to attend those forms on EWU's website.

EWU has been accredited by NWCCU since 1919 and was most recently reaffirmed in 2015. The accreditation process recognizes colleges and universities for integrity, performance and quality. Accreditation is also necessary for an institution to receive student financial aid.

Sun, 16 Oct 2022 06:20:00 -0500 en text/html
Killexams : Addition Financial Welcomes Qing Lu as Chief Financial Officer

LAKE MARY, FL (October 17, 2022) — Addition Financial is proud to welcome Qing Lu as the credit union’s new Chief Financial Officer.

With more than 18 years of financial experience, Qing previously served as the EVP/CFO at Farm Credit West in Rocklin, California, and as CFO at Northwest Community Credit Union in Eugene, Oregon. She has also worked in public accounting, healthcare and investment institutions, and is both a licensed Certified Public Accountant (CPA) and Certified Treasury Professional (CTP).

“I love the collaborative and innovative corporate culture at Addition Financial,” said Qing. “Addition Financial is a strong financial institution with the mission of serving members’ needs, and I appreciate the organization’s’ deep community involvement, especially in education.”

Qing received her MBA from Simon Fraser University in Canada, as well as a Master of Accounting degree from the University of Oregon. She has also taught senior-level undergraduate courses in Federal Business Taxation at Bushnell University in Oregon, and helped deliver a small business lending class through the Huerto De Familia organization to assist start-up entrepreneurs from the Latino community.

In her spare time, she enjoys running, music composition, swimming and traveling with her family.