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Student loans borrowers are still struggling right now, even with payments on federal loans suspended.Nearly half of borrowers in a new survey from personal finance site Student Loan Hero have lost income during the pandemic. About 34% have had their pay or hours cuts and more than one in three borrowers are experiencing food insecurity.Currently, federal student borrowers have placed in an administrative forbearance, which allows them to temporarily stop making their monthly loan payment. The suspension of payments will last until Sept. 30, 2020, but they can still make payments if they choose. About two months before the pause on federal student loan payments is scheduled to end, advocates are warning we're not ready.“Back in March, when the CARES Act was passed, I think September 30 made a lot of sense at that point. We were hopeful that by September we'd have the virus under control, that we'd be getting back to normal, that things would be reopening,” said Sam Gilford, Director of External Affairs at the nonprofit Student Defense. “But of course, here we are in July and it's clear that's not the case.”Student Defense has been representing students who had their wages garnished months after the CARES Act said that's not allowed.Just last week, the Department of Education said it's still happening to thousands of borrowers.The organization stresses that now is the time to be your own best advocate.“Many people will be eligible for what's called 'income-based repayment,' which is a repayment plan where your payment varies based on your income and if your income drops to certain level, your payment will drop to zero,” said Gilford. “That can be a really good option for a lot of people, but it's something that takes time to get started so don't wait until October 1.”Gilford says to watch out if you contact the company in charge of your student loans and they recommend forbearance instead of income-based repayment. You get a temporary pause on your payments, but interest keeps growing so your loan is getting bigger.There's another reason not to wait to contact your servicer.Student Defense says even in good times, servicers struggle to keep up with the volume of requests and calls from borrowers. So, it's likely they'll be overwhelmed if the pause on payments lifts at the end of September.The Department of Education is expected to start communicating with borrowers next month about their loan payments getting ready to start again.Click here to learn more about your student loans and read frequently asked questions. 2567
STOCKHOLM — Americans Paul R. Milgrom and Robert B. Wilson have won the Nobel Prize in economics for “improvements to auction theory and inventions of new auction formats.” The Nobel Committee said their discoveries have benefitted sellers, buyers and taxpayers. Monday's award comes as much of the world experiences the worst recession since World War II because of the impact of the coronavirus pandemic. The award caps a week of Nobel Prizes and is technically known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Since its establishment in 1969, it has been awarded 51 times and is now widely considered one of the Nobel prizes. 672
Ten journalists were among 31 people killed in a series of attacks in Afghanistan on Monday, including a BBC reporter and a well-known photographer who had written of the dangers of reporting in the Afghan capital.Nine journalists were killed in suicide bombings in the capital, Kabul. Shah Marai of Agence France Presse was among a group of journalists who died when a bomber disguised as a TV cameraman detonated a second bomb at the site of an earlier explosion. Both attacks were claimed by Islamic State.In a separate incident, Ahmad Shah, a 29-year-old reporter with the BBC's Afghan service, was shot dead by unknown gunmen in Khost province, the BBC said. Najib Sharifi, director of the Afghan Journalists Safety Committee, said Shah was on his way home when the attack took place. 797
TALLAHASSEE, Fla. — A Florida judge sided with a state teacher's union Monday in ruling that the Florida Department of Education could not require all brick and mortar schools to open by the end of the month or lose funding.Leon County Circuit Judge Charles Dodson ruled in favor of the Florida Education Association (FEA), in a lawsuit meant to stop the Education Department's order that would require all schools in the state to reopen for in-person classes by Aug. 31 or face loss of funding. The union filed their lawsuit shortly after the mandate was issued on July 6, claiming the order was in violation of the constitution's safe and secure public education guarantee.The FEA said Monday's ruling is a victory for schools all around the state of Florida."It is a pushback on reckless disregard on human life," said Randi Weingarten, the president of the American Federation of Teachers. "It is a pushback on politics overtaking safety and the science and the well being of communities."Fred Piccolo, a spokesperson for the governor's office, said the state intended to appeal the ruling."We intend to appeal this ruling and are confident in our position and in the authority of the Commissioner and the Governor to do what is best for our students," Piccolo said.The legal team for the FEA says the state can appeal, which would mean an automatic stay in the ruling given Monday. To lift the stay, the state would need to deliver more arguments in front of Dodson.This story was originally published by Kristian Thomas on WTXL in Tallahassee, Florida. 1566
Survivors of last month's deadly school shooting in Parkland, Florida, are preparing to take their fight for stricter gun control laws to Washington.This week's March for Our Lives is the culmination of a monthlong effort to honor the 17 students and faculty members killed at Marjory Stoneman Douglas High School, and rally Americans across the United States to say enough to gun violence.With momentum from the National School Walkout still going strong, students are demanding that their voices be heard. 515