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How to Get Ready to Start Repaying Student Loans

By Bria Overs | Word In Black Credit: Ron Lach / Pexels (WIB) – After a more than three-year pause, interest and payments on federal student loans will restart on August 29, 2023. For over 40 million Americans, this reintroduction to paying their student loans is daunting. Even if the Supreme Court rules in President Biden’s favor on […]
The post How to Get Ready to Start Repaying Student Loans first appeared on BlackPressUSA.

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By Bria Overs | Word In Black

Credit: Ron Lach / Pexels

(WIB) – After a more than three-year pause, interest and payments on federal student loans will restart on August 29, 2023. For over 40 million Americans, this reintroduction to paying their student loans is daunting.

Even if the Supreme Court rules in President Biden’s favor on the student loan forgiveness plan, not everyone will have their loans forgiven in full or even partially.

A May 2023 working study by the National Bureau of Economic Research found that borrowers whose loans were on pause used their new liquidity, or spare cash, to get new types of debt. This debt includes mortgages, auto loans, and increased credit card borrowing.

The end of the pause concerns both Lauryn Williams of Worth Winning and Brenton Harrison of New Money New Problems

But, they have tips for borrowers who want to prepare for the restart with the remaining few interest-free and payment-free months.

Williams and Harrison are Certified Financial Planners (CFP) with a special Certified Student Loan Professional (CSLP) designation that makes them experts on paying back student loans.

A CSLP is different from a financial aid officer found on college campuses. CSLPs, Harrison says, “strategize on repayment, as opposed to a financial aid counselor, who’s more so helping you maximize your aid while you’re in school.”

Most institutions have an exit counselor or an exit session for those who took out student loans during their higher education. These sessions and counselors provide the basics on repayment but don’t create specific plans for borrowers.

“We’re not doing the ‘preventative measures,’” Williams says. “But a student loan professional is going to help you understand the best strategies related to the federal student loan debt you have.”

The First Steps for Repayment

For the Black community, preparing for repayment has never been more critical. Black folks carry the most student loan debt, which they hold for longer than any other ethnic group.

“My biggest fear is that the people who are going to be harmed most are the people who owe the most — which are Black people,” Harrison says. “They’re not going to have many resources to go ask questions to make sure they’re not harmed.”

The first few steps in preparing for the restart are getting basic loan information. 

Some easy starter questions to get answers to are:

  • Who is the loan servicer?
  • What is the total amount due?
  • What is the interest rate for each loan?
  • What type of student loans are they?
  • When is the first payment due?
  • What will the monthly payment be? 

Each account on a servicer’s website should have specific loan information. However, these websites are another concern of Harrison’s.

During the last three years, some loan servicers, including Navient, Granite State Management and Resources, and Pennsylvania Higher Education Assistance Agency (PHEAA), left the student loan industry.

Brenton Harrison has over a decade of experience teaching strategies for overcoming the burden of debt, juggling family and money, and establishing a financial foothold for those who were never taught the principles of financial literacy. Credit: Rebekah Talbot

According to Bankrate, the loans from those former servicers should have moved to a new servicer, and the details of those loans should be the same.

“They’re going to contact you about your loans and what’s to come using the address and contact information on file or had on file back in 2020 or 2021,” he says.

Another important step is ensuring the servicer has up-to-date contact information, including a good email, phone number, and address.

Harrison recommends visiting the Federal Student Aid website for more information on federal loans and servicers. 

And, while it’s a good idea to get in touch with servicers for basic information, Williams doesn’t recommend turning to them for help deciding on the best path forward based on an individual financial situation.

“The hard thing is your loan servicer is not going to be well-equipped to help you sort through your personal financial situation,” Williams says. “They’re not going to be able to say, ‘Hey, this is the absolute most efficient thing based on your overall financial picture.’”

Concerns for Borrowers Moving Forward

Williams’ number one concern with the restart is increased lifestyle creep. Lifestyle creep happens when an increase in income also leads to increased living expenses and spending.

“Maybe they had a $500 or even $1,000 student loan payment, and now they don’t have that same $500 or $1,000 available because they have some other monthly bill they replaced it with,” Williams says. “It’s going to stretch them really thin.”

Lauryn is a CFP, author, podcaster, and the first American woman to earn a medal in the Summer and Winter Olympics. Credit: Lauryn Williams
Lauryn is a CFP, author, podcaster, and the first American woman to earn a medal in the Summer and Winter Olympics. Credit: Lauryn Williams

While the relief of the pause was most felt by those already paying their loans, that didn’t stop students from graduating or leaving school with debt.

There are recent college students whose repayments didn’t start six months after graduating or leaving school like they usually would have.

“They were born into this pause, if you will,” she says. “They need to understand what repayment plans are available, how the various repayment plans work, and which is the most optimal for them because it’s not one size fits all.”

She recommends setting that money aside whenever possible if it’s not happening already. 

“The time to take action is now,” Williams says. “Don’t stick your head in the sand. Instead of being angry that no one came with the magic wand of forgiveness, focus on how you can start creating wealth for yourself and putting the dollars you have to work in the most meaningful way.”

The post How to Get Ready to Start Repaying Student Loans appeared first on The Sacramento Observer.

This article originally appeared in the Sacramento Observer.

The post How to Get Ready to Start Repaying Student Loans first appeared on BlackPressUSA.

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Jovita Moore Mural Still Has Not Been Repainted in Grant Park

ATLANTA VOICE — A mural depicting late journalist Jovita Moore, painted on the exterior wall of a building now occupied by Bellwood Coffee in Grant Park, was painted over in April. Moore passed away in 2021 after decades of working in Atlanta television news. Bellwood Coffee owners stated in May they were unaware of Moore’s identity or significance to the community before painting over the mural.
The post Jovita Moore Mural Still Has Not Been Repainted in Grant Park appeared first on BlackPressUSA.

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Jovita Moore Mural Still Has Not Been Repainted in Grant Park

At the corner of Boulevard, SE. and Rosalia St., SE., directly across the street from an abandoned home and a Methodist Church, is Bellwood Coffee. One of hundreds of coffee shops in Atlanta, this place of business would not be worth a solitary discussion if not for the way its exterior walls are currently painted. There was once a mural depicting the late Jovita Moore, a beloved journalist who worked in Atlanta for decades. Moore, who passed away in 2021, mentored many of the people you see on television newscasts today. Though her legacy will never be forgotten, it was the mural of her image that was erased.

In April, members of the Grant Park community voiced their disgust at the mural, which graced a side wall of the building now occupied by Bellwood Coffee’s Grant Park location, before it was painted over. In its place are the words “Bellwood Coffee; Cocktails, Biscuits, Dry Goods, Air Conditioning. *Heat Too”. In May, the business owners responded to the community pushback on social media by acknowledging they did not know who Moore was before painting over her image. And later admitted that they did not attempt to find out what she meant to the community.

On May 21, the Bellwood Coffee Instagram account had a post about being “in close contact with Jovita’s family and are actively working on next steps in this process.” Two months later, the mural has not been replaced, repainted, or repositioned on the property. Nothing has been done. Black history is often erased, most recently by the current Presidential administration, but oftentimes on a smaller, quieter scale. The mural was originally painted by muralist Tommy Bronx, who had been in contact with the business owners about repainting it. As of July 6, Tommy Bronx had responded to a direct message via his Instagram account from The Atlanta Voice about any updates on his plans to repaint the mural.

“We’re currently working on it. You should see some movement in the weeks to come,” he wrote in a response.

On Monday, July 6, the business had several patrons inside and was running smoothly with three employees manning the counter. The Atlanta Voice dropped by Bellwood Coffee to get a look at the exterior wall where the mural once stood as a memorial to a journalist and mother who lost her life to brain cancer at the young age of 54. Moore’s image added some color to the block. The grey wall in its place does not.

A direct message was sent to the Bellwood Coffee Instagram account, and there hasn’t been a response as of 7 p.m. on Monday.

The post Jovita Moore Mural Still Has Not Been Repainted in Grant Park appeared first on The Atlanta Voice.

Based on reporting by Atlanta Voice.



The post Jovita Moore Mural Still Has Not Been Repainted in Grant Park appeared first on BlackPressUSA.

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‘Proud to Hang Her from a Tree’: Man Arrested for Threatening Black Senator

ATLANTA DAILY WORLD — A New York man faces felony hate crime charges for allegedly posting a threat against New York State Senator Lea Webb. James A. Crosby, 49, of Binghamton, was arrested by New York State Police after investigators determined he posted a threatening comment on a social media news post about a Juneteenth celebration.
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A New York man is facing felony hate crime charges after allegedly posting that he’d be “proud to hang” New York State Senator Lea Webb from a tree in response to a news story about a Juneteenth celebration.

James A. Crosby, 49, of Binghamton, was arrested June 23 by New York State Police after investigators determined he posted a threatening comment on a WBNG 12 News Facebook post. “I’d be proud to hang her from a tree,” Crosby wrote, according to WBNG.

Crosby was charged with making a terroristic threat as a hate crime, a class C felony, per the New York State Police. He is currently being held at Broome County Jail.

During the subsequent investigation, state police found Crosby was in illegal possession of firearms despite being prohibited from owning them due to a prior felony conviction. Investigators recovered a rifle, a large-capacity ammunition feeding device, and a firearm suppressor — all prohibited under New York state law, per the NYSP.

Crosby was charged with four additional counts of criminal possession of a weapon in the third degree, all class D felonies.

Webb, who represents New York’s 52nd Senate District, had been a featured speaker at a Juneteenth flag-raising ceremony at Binghamton City Hall, where the celebration included prayers and the singing of the Black national anthem.

Police said Crosby’s comment was posted in response to a WBNG news story covering the event.

The day before his arrest, Crosby posted a Facebook apology claiming the comment “was not intended to be racial in any way” and was made in reference to what he described as a “criminal,” citing criticism of Webb over her use of nonprofit legal aid in a foreclosure case — a matter state watchdogs said created an appearance of a conflict of interest, per the Ithaca Voice. He was arrested the following day.

Webb issued a public statement June 25 condemning the threat.

“It was extremely disappointing and hurtful to see the now-deleted threat and attacks on my life in response to a story about Juneteenth, a national holiday that recognizes the ending of slavery in America,” she said. “Feedback and thoughts on policy are one thing, but to make a public call for lethal violence is absolutely unacceptable and dangerous. We must recognize our shared humanity and reject violence in all forms.”

She thanked Gov. Kathy Hochul, Senate Majority Leader Andrea Stewart-Cousins, and law enforcement for their “swift response.”

Following Crosby’s comments, social media users called for a boycott of his contracting business, Crosby Home Improvements.

The Binghamton City Democratic Committee also called for an investigation into the incident before his arrest.

The Black Information Network is your source for Black News! Get the latest news 24/7 on The Black Information Network. Listen now on the iHeartRadio app or click HEREto tune in live.

The post ‘Proud to hang her from a tree’: Man arrested for threatening Black Senator appeared first on Atlanta Daily World.

Based on reporting by Atlanta Daily World.

The post ‘Proud to Hang Her from a Tree’: Man Arrested for Threatening Black Senator appeared first on BlackPressUSA.

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CARICOM: Strengthen Integration for Future Generations

NEW YORK CARIB NEWS — Outgoing CARICOM Chairman Terrance Drew called on regional leaders to build a stronger and more effective Caribbean Community that benefits future generations. Speaking at the 51st Regular Meeting, Drew urged modernization of governance structures and improved implementation of Community decisions to make CARICOM safer and more prosperous.
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Outgoing Caribbean Community (CARICOM) Chairman and Prime Minister of Saint Kitts and Nevis, Terrance Drew, has called on regional leaders to build a stronger, more effective CARICOM that delivers greater benefits for future generations.

Speaking Sunday at the opening of the 51st Regular Meeting of the Conference of Heads of Government in Saint Lucia, Dr. Terrance Drew said the region must modernize its governance structures, improve the implementation of Community decisions, and ensure CARICOM becomes safer, more prosperous, and more relevant to the lives of its citizens.

The meeting, being held under the theme “CARICOM: From Resilience to Renewal in a Changing World,” coincides with the Community’s 53rd anniversary. During the ceremony, Dr. Drew formally handed over the rotating CARICOM chairmanship to Saint Lucia’s Prime Minister, Philip J. Pierre.

Reflecting on his six-month tenure as chairman, Drew praised fellow regional leaders for maintaining their commitment to democracy, good governance, unity, and the rule of law despite mounting global economic and geopolitical challenges.

“Throughout these challenges, CARICOM chose engagement over isolation. Together, we reaffirmed our commitment to a fair and rules-based international trading system and ensured that the interests of small developing states continued to be heard.”

He highlighted progress made in strengthening the CARICOM Single Market and Economy, including deeper trade cooperation, expanded labour mobility, and efforts to lay the foundation for long-term economic growth. Drew also noted the Community’s growing partnerships beyond the Caribbean, particularly with the African Union, while stressing that every international partnership should advance the interests of all parties involved.

The outgoing chairman also expressed appreciation to Dr. Carla Barnett and the CARICOM Secretariat for their professionalism and unwavering support during his tenure.

“Whenever I called, you answered. Whenever support was required, you and your team responded with diligence, competence, and excellence.”

Dr. Drew urged the Secretariat to continue preserving its impartiality while faithfully implementing decisions made by Heads of Government, saying that balance has helped strengthen the regional integration movement.

The conference continues in Saint Lucia with regional leaders expected to deliberate on key issues including regional security, climate resilience, trade, economic integration, food security, Haiti, reparations, and strengthening the CSME.

Based on reporting by New York Carib News.



The post CARICOM: Strengthen Integration for Future Generations appeared first on BlackPressUSA.

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