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What you need to know about the SAVE plan, the income-driven student loan repayment plan

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Bethune Cookman

NEW YORK (AP) – More than 75 million student loan borrowers have signed up for the U.S. government’s latest repayment plan because it launched in August.

President Joe Biden recently announced he would cancel federal student loans for nearly 153,000 borrowers enrolled in the plan, often called the SAVE plan. Forgiveness was granted to borrowers who had repayments for at the very least 10 years and originally borrowed $12,000 or less.

The SAVE plan was created last 12 months to replace other existing income-driven repayment plans offered by the federal government. More borrowers at the moment are eligible to have their monthly payments reduced to $0, and lots of qualify for lower payments compared to other repayment plans.

For Lauran Michael and her husband, the SAVE plan cut their student loan payments in half.

Bethune Cookman
Bethune Cookman University (Source: Bethune Cookman University)

Since they got married, the two have been paying off her husband’s student loans, which could be about $1,000 a month if payments resumed after the pandemic break. Under the SAVE plan, their payments are currently $530 monthly.

“We don’t want our loans to dictate our life choices and stop us from doing other things because we’re paying so much money. The SAVE plan was definitely a game changer,” said Michael, a 34-year-old interior designer from Raleigh, North Carolina.

Michael’s family pays for day take care of their two children using money they’ve saved by not paying fees during the pandemic and reduced fees through the SAVE plan.

If you’re enthusiastic about applying for a SAVE plan, here’s what you need to know:

What is an income-driven repayment plan?

The U.S. Department of Education offers several repayment plans for federal student loans. Under the standard plan, borrowers are charged a set monthly amount that ensures that the entire debt is repaid after 10 years. However, if borrowers have difficulty repaying this amount, they will enroll in one in all several plans that supply lower monthly payments depending on income and family size. These are called income-driven repayment plans.

Income-driven options have been offered for years and usually limit monthly payments to 10% of the borrower’s discretionary income. If the borrower’s earnings are low enough, their bill is reduced to $0. And after 20 or 25 years, any remaining debt shall be worn out.

How is the SAVE plan different?

More borrowers in the SAVE plan are eligible for $0 payments. This plan won’t require borrowers to make payments in the event that they earn lower than 225% of the federal poverty line – $32,800 a 12 months for a single person. Meanwhile, the cutoff for other plans is 150% of the poverty line, or $22,000 per 12 months for a single person.

The SAVE plan also prevents interest from accumulating. As long as borrowers make monthly payments, their overall balance won’t increase. Once your adjusted monthly payment is roofed – even when it’s $0 – any remaining interest is waived.

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Other significant changes will come into effect in July 2024. Undergraduate loan repayments shall be capped at 5% of discretionary income, up from the current 10%. People with graduate and student loans can pay between 5% and 10%, depending on the original loan balance.

The maximum repayment period is restricted to 20 years for those with only undergraduate loans and 25 years for those with college loans.

Who qualifies for the SAVE plan?

The SAVE plan is out there to all student loan borrowers in the Direct Loan program who’re in good standing with their loans.

Read more about the SAVE plan Here.

How do I apply for a SAVE plan?

Borrowers can apply for the SAVE plan using Requesting an income-driven repayment plan via the Department of Education website.

How will I know that my debt has been forgiven?

If you are one in all the SAVE forgiveness borrowers, you will receive an email from the Education Department.

What other programs can assist you repay student loan debt?

If you worked for a government agency or nonprofit, the Public Service Loan Forgiveness program offers cancellation after 10 years of normal payments, and a few income-driven repayment plans cancel the remaining portion of a borrower’s debt after 20 to 25 years.

Borrowers should be sure that they register for the program the absolute best repayment plan based in your income qualify for these programs.

Borrowers who’ve been defrauded by for-profit colleges may apply for aid through a program often called Borrower Defense.

If you want to repay your federal student loans on an income-driven plan, the first step is complete an application through the Federal Student Aid website.

Will there be forgiveness in the future?

Several categories of borrowers could be eligible for relief under Biden’s second attempt at mass loan cancellation after the Supreme Court rejected his first plan last 12 months.

The proposed plan includes relief for borrowers who repay their loans for at the very least 20 or 25 years, automatic forgiveness for borrowers who qualify for income-driven repayment plans but aren’t enrolled, and loan cancellation for borrowers who participated in a program geared toward for profit. universities, which resulted in them being unable to repay, amongst other things, student loans.

There is a growing query whether any relief shall be realized as Conservatives vow to challenge any attempt to mass student loan cancellations. The latest proposal is narrower and focuses on several categories of borrowers who could face having some or all of their loans forgiven but are almost certain to face legal challenges.

According to the Department of Education, currently borrowers who qualify for forgiveness under the SAVE program will repay their loans on a rolling basis.


This article was originally published on : thegrio.com
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Education

Mississippi College changes name and eliminates football program

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high school, NIL deals, Mississippi college

Mississippi College embraces its Christian ideology with a name change.


Mississippi College, a non-public institution, is changing its name to Mississippi Christian College. The decision was approved by the Mississippi Board of Supervisors on November 18.

The university can be eliminating its Division 1 football team in an effort to prioritize academic offerings. In an announcement, the university cited the upcoming bicentenary because the inspiration for the changes.

Mississippi Christian College wants to construct on its Christian ideology, in line with President Bake Thompson.

“These transformational and necessary changes are critically important to the future of this institution. As we look ahead to the institution’s bicentennial in 2026, we want to ensure that MC is a university recognized for academic excellence and commitment to Christ for another 200 years.”

The college is rededicated to making a space where Christian education stays a priority.

“The institution may even undergo restructuring. A brand new structure will likely be introduced, which can mix the College of Christianity and Art with the School of Humanities and Social Sciences, and the College of Pedagogy will change its name to the College of Pedagogy and Human Sciences. The chancellor was charged with evaluating the potential consolidation of a limited number of educational departments on campus.

Mississippi Christian Athletic Director Kenny Bizott reaffirmed his commitment to former student-athletes.

“We will support our current student-athletes who wish to continue their education at MC, as well as those who wish to transfer,” Bizott added.

Many may view these changes as extreme, but Mississippi Christian believes that every latest organizational change will help the institution fulfill its core functions.

Another Mississippi institution can be within the news for its failures on the legislative level. reported the Mississippi State Senate no payment Legislative Services Office (LSO) attorney Kristie Metcalfe is paid commensurate along with her peers.

The Department of Justice filed a lawsuit against the Mississippi LSO on Metcalfe’s behalf. An office investigation found that Metcalfe was earning half the salary of white LSO lawyers. The investigation also found that Metcalfe is the one non-white worker employed within the office’s 34 years of operation. Race discrimination violates the Civil Rights Act of 1964.


This article was originally published on : www.blackenterprise.com
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Florida education officials report hundreds of books pulled from school libraries, including Toni Morrison, Richard Wright and Maya Angelou

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Florida book bans, Florida school libraries, books pulled from Florida schools, Florida school book bans, Toni Morrison book bans, Maya Angelou book bans, George M. Johnson book bans, Richard Wright book bans, LGBTQ book bans, queer book bans, Black book bans, theGrio.com

TALLAHASSEE, Fla. (AP) – Toni Morrison’s “The Bluest Eye.” “Forever” by Judi Blume. “Slaughterhouse Five” by Kurt Vonnegut.

According to the newest information, all of them have been withdrawn from the shelves of some Florida schools list developed by the Florida Department of Education and containing books removed by local school districts.

Recent changes in state law have made it possible for fogeys and residents to take this motion challenge books to school libraries and required districts to submit an annual report to the state detailing which books were restricted of their schools. Florida continues to steer the nation in withdrawing books from school libraries, in accordance with an evaluation by the American Library Association and the advocacy group PEN America.

“Restricting access means limiting the freedom to read,” said Kasey Meehan of PEN America. “Students are losing the opportunity to access books that reflect their own life experiences, to access books that help them learn and to empathize with people who… have different life experiences.”

The list, published for the 2023-2024 school yr, includes titles by American literary icons similar to Maya Angelou, Flannery O’Connor and Richard Wright, in addition to books which have turn into top targets for censorship across the country as a consequence of LGBTQ+ characters, discussions about gender and sexuality and descriptions of sexual encounters, e.g. “All Boys Aren’t Blue” by George Johnson and “Gender Queer” by Maja Kobabe. Supporters of conservatism have described such content as “pornographic.”

The list of books removed from libraries also includes Holocaust accounts similar to “The Diary of Anne Frank: A Graphic Adaptation” and “Sophie’s Choice.” It’s an analogous story with the graphic novel, an adaptation of “1984,” George Orwell’s groundbreaking work on censorship and surveillance.

“Everywhere from Toni Morrison to Alice Walker to Slaughterhouse-Five to George Orwell,” said Stephana Farrell, co-founder of the Florida Freedom to Read Project, which tracks book challenges within the state. “If you take the time to look through this list, you will see that there is a problem with… this movement.”

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In an announcement to the Associated Press, a spokesman for the Florida Department of Education maintained that no books have been banned in Florida and defended the state’s efforts to remove “sexually explicit material” from schools.

“Once again, far-left activists are promoting the book ban scam to Floridians. “The better question is why these activists continue to fight to expose children to sexually explicit material,” spokeswoman Sydney Booker said.

The list shows that the number of book withdrawals varies widely across the state, with some districts reporting no restrictions and others reporting hundreds of titles pulled from shelves. Farrell of the Florida Freedom to Read Project said that based on the group’s evaluation of public records, the department’s report is an undercount since it doesn’t include books removed in consequence of an internal staff review, only those withdrawn in consequence of a grievance filed by a parent or resident.

Farrell believes that almost all Florida parents want their children to have broad access to literature.

“We live in a country where parental rights should be recognized, heard and taken into account,” Farrell said. “We are asking for accountability and an accurate record of the impact of these laws on our children and what is available to them.”

Schools have restricted access to dozens of books by Stephen King, a master of the horror genre known for bestsellers similar to “It” and “Pet Sematary.” Clay County officials also found his book, “On Writing: A Memoir of the Craft,” inappropriate for college kids.

King, who spends part of the yr in Florida, talked about attempting to get his books out of students’ hands, urging readers to run to the closest library or bookstore.

“What the hell?” In August, King posted on social media reacting to the choice of some Florida schools to drag his books from shelves.

Multiple school districts in Florida have filed legal challenges for restricting students’ access to books, including Escambia County, which is being sued by PEN America and Random penguin housethe biggest publisher within the country.

Nassau County School District in September settled lawsuit brought by the authors of “And Tango Makes Three,” an image book based on the true story of two male penguins who raised a chick together at New York’s Central Park Zoo. Under the terms of the settlement, the district needed to return three dozen books to the shelves.

This article was originally published on : thegrio.com
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Issa Rae meets with Georgia law students

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Issa Rae, georgia state university

Rae will speak to students about legal issues related to her success.


Georgia State University College of Law announced that Issa Rae will meet with students to debate the legal elements of her successful profession as a part of the course “The Legal Life of Issa Rae.”

On November 7, the producer-actress will hold a hearing at Rialto Art Center. The visit is the culmination of a course exploring Rae’s decades-long profession within the entertainment industry. Rae’s profession provides a wealth of legal diversity to explore as her profession extends beyond visual entertainment.

The classes are held as a part of the “Legal Life…” series. The series was created by George State University law professor Moraima “Mo” Ivory.

As a professor at Georgia State College of Law, Ivory curated a series that examined the legality of maintaining a prestigious profession. As reported, Rae is a course subject this semester BLACK ENTERPRISES.

The creator’s team worked with Ivory to take an in depth take a look at the contracts that helped Rae secure her deals.

“With the support of her team, we will also have the unique opportunity to analyze her real-world deals and discuss how her approach to deals is shaping today’s entertainment landscape. We are incredibly fortunate to have this opportunity,” Ivory told .

It was classy access for 10 years value of contractual agreements to be analyzed.

“This is the first class where every contract was an actual contract with the artist,” Ivory said. “Students can see how real deals actually happen and what real entertainment lawyer Issa Rae has been doing over the last 10 years.”

Ivory, a professor and Fulton County commissioner, believes that the language of the law is vital and that the power to see the language in connection with a noteworthy product allows students to beat the barrier of unfamiliarity.

“You have to look at what people are actually doing and what is happening at the moment. The more familiar they become with the language, the faster they will be able to master it and start representing clients.”

According to Ivory, Rae’s family and business partners were instrumental in checking out the complicated details of her business. The course was attended by “Rae’s mother, siblings, network executives and members of her staff.”

The longtime artist began her profession on YouTube with “The Misadventures of Awkward Black Girl.” The show’s success led to a collaboration with host Larry Wilmore and a multi-show deal with HBO. Outside of television, Rae is a successful actress and producer of many shows including (2022). She also created her own media company HooRae media and music label Raedio.


This article was originally published on : www.blackenterprise.com
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