Here’s How Parents Can Repay Parent PLUS Student Loans

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Parents are borrowing more to send their children to college and struggling to repay those loans, says a new study from The Brookings Institution.

Here’s what you need to know and what to do about it.

Latest Student Loan Debt Data: Parent PLUS Loans

According to recent data, at least 3.4 million Parent PLUS borrowers owe $87 billion (not including any consolidated loans). That represents approximately 6% of total outstanding student loan debt of $1.5 trillion.

The rise in Parent PLUS Loans has been driven by increased tuition, the elimination of borrowing caps and regulatory changes, among other reasons.

Today, the average Parent PLUS Loan balance is $25,600, with annual borrowing amounts having more than tripled over the last 25 years.

What Is A Parent PLUS Loan?

A PLUS loan is a federal loan that graduate students, or parents of dependent undergraduate students, can borrow to pay for college or a career school. Parent PLUS Loans, in particular, refer to loans borrowed by parents on behalf of a dependent undergraduate student.

The parent is the borrower, and the lender is the U.S. Department of Education. A parent can borrow an amount up to the cost of attendance, less any financial assistance received.  

[“source=forbes]

How To Ensure You Are Enrolled In A Recognised Distance Learning Course

MHRD accepts Justice Reddy Committee Recommendations on open, distance education programmes

How To Ensure You Are Enrolled In A Recognised Distance Learning Course

New Delhi: The central government has accepted the Justice Reddy Committee recommendations regarding the Distance Education Programmes being run in the country by various universities. Ministry of Human Resource Development (MHRD) constituted a three members Committee after the Supreme Court directed it to constitute a three members Committee to examine the issues related to distance education in the country and also to suggest a road map for strengthening and setting up of oversight and regulatory mechanism in the relevant field of higher education and allied issues.

The court has ordered to constitute the committee comprising of eminent persons who have held high positions in the field of education, investigation, administration or law at national level.

Now, the Ministry has notified following instructions to all the stakeholders based on the recommendations of the Justice Reddy Committee on Open and Distance Learning (ODL) Courses:

1. The list of approved courses offered under ODL mode, institution – wise every year is available on UGC website at www.ugc.ac.in/deb.

2. No course, other than the one that finds place in the list referred to above, would be recognized and a candidate who studies unrecognized courses cannot claim any benefit.

3. Under no circumstances, retrospective or ex-post facto recognition to any course through ODL mode shall be granted by UGC.

4. Higher Educational Institutions (HEIs) are required to comply with all the provisions of the UGC (ODL) Regulations, 2017 and its amendments. If any deviation by the HEI is noticed, the same would entail not only withdrawal of permission/ recognition for such ODL courses but also for other courses offered by the institutions, on regular and conventional mode.

5. The UGC (ODL) Regulations, 2017 are applicable to all HEIs as given at Clause (3) of sub-regulation (1) of Part – I of UGC (ODL) Regulations, 2017. It is further clarified that the private universities created under the State enactments shall be under obligation to strictly follow the requirements, stipulated by the UGC, issued from time to time including those under the UGC (ODL) Regulations, 2017.

[“source=ndtv]

Oppo R17 Pro to launch in India today: Specs, expected price and how to watch livestream

Oppo is all set to bring its premium R-series to India for the very first time today. The company is holding an event in Mumbai where it will announce the Oppo R17 Pro, a device that brings a premium design language complete with an edge-to-edge waterdrop display, all-glass body and an in-display fingerprint sensor, among other things. The R17 Pro is the first top-end smartphone launch for Oppo in India since the Find X. The Oppo R17 Pro also touts superior mid-range performance, championed by a Snapdragon 710 chipset, as well as SuperVOOC fast charging support.

The Oppo R17 Pro was first launched in China before it made its way to Europe a few weeks ago. The phone was launched at CNY 4,299 (approx Rs 43,800) in China, but you can expect the India pricing to be more competitive as the R17 Pro will compete against the OnePlus 6T, Samsung Galaxy A9 and the upcoming Nokia 8.1. So, a pricing of around Rs 30,000 would give the R17 Pro a good chance against the competition. Oppo may also launch the regular R17 today, but the spotlight will be on the Pro model. The Oppo R17 Pro is already up for pre-orders, but the company will be officially launching the product later today at 8pm IST. Oppo will be livestreaming the event via its YouTube channel.

The Oppo R17 Pro brings a 6.4-inch FHD+ waterdrop display with a 91.5 percent screen-to-body ratio. It also gets Gorilla Glass protection on the back along with a gradient colour scheme. It is powered by a powerful mid-range octa-core Snapdragon 710 chipset coupled with up to 8GB of RAM and 128GB of internal storage. The R17 Pro also comes with an in-display fingerprint sensor.

The R17 Pro touts a triple camera system on the back. This includes a one 12MP sensor with variable aperture (f/1.5-2.4) and OIS, a 20MP secondary sensor with f/1.6 aperture and a third Time of Flight (TOF) 3D sensing camera that calculates depth information for 3D-like photos. The upcoming Oppo smartphone houses a 3,700mAH battery with a 40W SuperVOOC fast charging support which promises to charge the device from zero to 40 per cent in just 10 minutes.

[“source=indiatoday]

How To Ensure You Are Enrolled In A Recognised Distance Learning Course

TS

How To Ensure You Are Enrolled In A Recognised Distance Learning Course

MHRD accepts Justice Reddy Committee Recommendations on open, distance education programmes

New Delhi: 

The central government has accepted the Justice Reddy Committee recommendations regarding the Distance Education Programmes being run in the country by various universities. Ministry of Human Resource Development (MHRD) constituted a three members Committee after the Supreme Court directed it to constitute a three members Committee to examine the issues related to distance education in the country and also to suggest a road map for strengthening and setting up of oversight and regulatory mechanism in the relevant field of higher education and allied issues.

The court has ordered to constitute the committee comprising of eminent persons who have held high positions in the field of education, investigation, administration or law at national level.

Now, the Ministry has notified following instructions to all the stakeholders based on the recommendations of the Justice Reddy Committee on Open and Distance Learning (ODL) Courses:

1. The list of approved courses offered under ODL mode, institution – wise every year is available on UGC website at www.ugc.ac.in/deb.

2. No course, other than the one that finds place in the list referred to above, would be recognized and a candidate who studies unrecognized courses cannot claim any benefit.

3. Under no circumstances, retrospective or ex-post facto recognition to any course through ODL mode shall be granted by UGC.

4. Higher Educational Institutions (HEIs) are required to comply with all the provisions of the UGC (ODL) Regulations, 2017 and its amendments. If any deviation by the HEI is noticed, the same would entail not only withdrawal of permission/ recognition for such ODL courses but also for other courses offered by the institutions, on regular and conventional mode.

5. The UGC (ODL) Regulations, 2017 are applicable to all HEIs as given at Clause (3) of sub-regulation (1) of Part – I of UGC (ODL) Regulations, 2017. It is further clarified that the private universities created under the State enactments shall be under obligation to strictly follow the requirements, stipulated by the UGC, issued from time to time including those under the UGC (ODL) Regulations, 2017.

[“source=forbes]

Liz Weston: How to ‘Death Clean’ Your Finances

FILE – This April 2017 file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File) The Associated Press

The phrase “death cleaning” may sound jarring to unaccustomed ears, but the concept makes sense. It’s about getting rid of excess rather than leaving a mess for your heirs to sort out.

“Death cleaning” is the literal translation of the Swedish word dostadning, which means an uncluttering process that begins as people age. It’s popularized in the new book “The Gentle Art of Swedish Death Cleaning” by Margareta Magnusson.

Magnusson focuses on jettisoning stuff, but most older people’s finances could use a good death cleaning as well. Simplifying and organizing our financial lives can make things easier for us while we’re alive and for our survivors when we’re not.

This task becomes more urgent when we’re in our 50s. Our financial decision-making abilities generally peak around age 53, researchers have found, while rates of cognitive decline and dementia start to climb at age 60. As we age, we tend to become more vulnerable to fraud, scams, unethical advisers and bad judgment, says financial literacy expert Lewis Mandell, author of “What to Do When I Get Stupid.” Cleaning up our finances can help protect us.

Some steps to take:

CONSOLIDATE FINANCIAL ACCOUNTS

Fewer accounts are easier to monitor for suspicious transactions and overlapping investments, plus you may save money on account fees. Your employer may allow you to transfer old 401(k) and IRA accounts into its plan, or you can consolidate them into one IRA. For simplicity, consider swapping individual stocks and bonds for professionally managed mutual funds or exchange-traded funds (but check with a tax pro before you sell any investments held outside retirement funds). Move scattered bank accounts under one roof, but keep in mind that FDIC insurance is generally limited to $250,000 per depositor per institution.

AUTOMATE PAYMENTS

Memory lapses can lead to missed payments, late fees and credit score damage, which can in turn drive up the cost of borrowing and insurance. You can set up regular recurring payments in your bank’s bill payment system, have other bills charged to a credit card and set up an automatic payment so the card balance is paid in full each month. Head off bounced-transaction fees with true overdraft protection, which taps a line of credit or a savings account to pay over-limit transactions.

PRUNE CREDIT CARDS

Certified financial planner Carolyn McClanahan in Jacksonville, Florida, recommends her older clients keep just two credit cards: one for everyday purchases and another for automatic bill payments. Closing accounts can hurt credit scores, though, so wait until you’re reasonably sure you won’t need to apply for a loan before you start dramatically pruning.

SET UP A WATCHDOG

Identify whom you want making decisions for you if you’re incapacitated. Use software or a lawyer to create two durable powers of attorney — one for finances, one for health care. You don’t have to name the same person in both, but do name backups in case your original choice can’t serve.

Consider naming someone younger, because someone your age or older could become impaired at the same time you do, says Carolyn Rosenblatt, an elder-law attorney in San Rafael, California, who runs AgingParents.com. Grant online access to your accounts, or at least talk about where your trusted person can find the information she’ll need, Rosenblatt recommends.

Also create “in case of emergency” files that your trusted person or heirs will need. These might include:

?Your will or living trust

?Medical directives, powers of attorney, living wills

?Birth, death and marriage certificates

?Military records

?Social Security cards

?Car titles, property deeds and other ownership documents

?Insurance policies

?A list of your financial accounts

?Contact information for your attorney, tax pro, financial adviser and insurance agent

?Photocopies of passports, driver’s licenses and credit cards

A safe deposit box is not the best repository, because your trusted person may need access outside bank hours. A fireproof safe bolted to a floor in your home, or at minimum a locked file cabinet, may be better, as long as you share the combination or key (or its location) with your trusted person. Scanning paperwork and keeping an encrypted copy in the cloud could help you or someone else recreate your financial life if the originals are lost or destroyed.

[“Source-usnews”]

How Do You Package Yourself Into One Coherent Personal Brand After Multiple Career Changes?

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This Washington, DC reader has changed careers multiple times and is stymied on how to explain her diverse story (different industries, different functional roles) in a way that resonates with recruiters, hiring managers, and her broader network:

I just read your article “Personal Rebranding: How To Be Seen Differently” as personal branding is something I have struggled with and something I am currently working on. About 3 years ago, I decided to switch careers to [a different industry] and it’s been a great experience! I am somewhat of a unicorn in that I have multiple skills which I am having a hard time “packaging” for recruiters and hiring managers. I find that, when I talk to recruiters, they want to quickly figure out what box I can fit into (sales? client services? operations? business development? project management?), and that approach is not working for me. Same with networking. I like the idea of having multiple personal brand stories to pull from. Can you help me get unstuck and think through how best to build my story?

With people living longer and therefore having longer careers, it’s more likely that today’s professional will change careers at least once, if not multiple times. With companies increasingly turning to contingent workers, and more people joining the gig economy, it’s more common for today’s professional to have an eclectic background. Therefore, this reader’s career path of multiple industries skills, and roles likely applies to more and more readers.

It is challenging to develop a succinct introductory pitch when you have held many jobs. It can be confusing for the listener when the jobs are very different. Finally, it can be confusing for you to constantly have to decide what to emphasize in your background, what to omit altogether, and how to embrace your variety of experiences within one compelling story. If you have many different industries and jobs in your background, here are four guidelines to help you package yourself into one coherent personal brand:

Don’t pitch to recruiters

 I’m a recruiter and a multiple-time career changer, and I would never hire myself. My job as a recruiter is to find a clear fit for my client’s job opening – i.e., the round peg for the round hole My client can be imaginative and hire an unusual, “out-of-the-box” candidate, but the recruiter’s role is to find the obvious candidate. Therefore, a recruiter has no use for backgrounds that don’t follow obvious, traditional career paths – e.g., the banker with decades in banking for the banking job.

If you meet a recruiter at an event, find out first what they specialize in, and only talk about your experience in that area. If you don’t have experience in that area but you want to be considered, resist the urge to introduce yourself as someone with translatable skills. Recruiters can’t do anything with translatable – we look at proven only. You are better off referring someone who is excellent and 100% on point with what the recruiter does. This way, you demonstrate immediately that you understand their area, you showcase yourself as connected and savvy to how professional networking works, and you open the door for an ongoing relationship with this recruiter. Who knows? You may get relevant experience down the road that will cause the recruiter to change their mind about you, or you might tap the recruiter for market information, if not a direct lead.

Tailor your pitch to your audience

 Talking to recruiters in a way that caters to their interests is an example of tailoring your pitch to your audience. When you have a varied background, tailoring your pitch to the specific things (whether a job, industry, or expertise) that your listener is interested in is ideal because you make it easy for the other person to relate to you. It’s easier to develop rapport with someone who shares the same interest.

This doesn’t preclude expanding the conversation to mention other jobs, industries, or expertise. When I’m giving a workshop to a working parents’ group, I introduce myself as married with two kids and two businesses. If I’m giving the same workshop – say, it’s about negotiation – to MBA’s interested in banking and consulting, I introduce myself as a former banker/ consultant. Both of those aspects of my background are true, but I’m packaging my introduction for maximum relatability and rapport. Invariably, I talk about my banking and consulting work to the parents and about my busy family life to the MBA’s, but by then, my value and credibility are already established.

If you can’t pick just one thing, pick one common thread

 Sometimes you can’t focus your story because you’re sharing it to the general public, say on LinkedIn. Your LinkedIn summary, a professional bio that lives on your website, or an introduction you include in a speaker’s kit should include a comprehensive summary of your career. When your career is very varied, you can keep it coherent by sticking to a theme across your story .

For example, my career goes from piano to banking to consulting to recruiting to acting to media to entrepreneurship to a little bit of all my previous industries. When I tell it like a laundry list, it sounds scattered. When I introduce myself as a career change expert and extreme career changer myself, I give my story a hook that each distinct thread can relate to.

One client with an MD and an MBA branded as a bridge between the science and commercialization of biotech. Another client with financial services operations as her profession and multiple Board positions as her personal passion branded as a trusted advisor on spending. Her day job was advising hedge funds on back office costs, and her volunteer work included advising diverse non-profits on budget issues, so we picked the overlap in two seemingly different roles.

Package your story for your future, not your past

 Keep in mind that the common thread worked for my financial services client because she ultimately wanted (and landed) a role advising institutions on investing. The science/ commercialization thread worked for my MD/ MBA because he wanted a general management role in biotech. My extreme career changer moniker works for me because my ideal client is an aspiring career changer. The best personal branding story packages you for what you want to do in the future, not just what you have done before.

[“Source-forbes”]

How One University Went From Proposing to Cut 13 Mostly Liberal-Arts Programs to Eliminating Only 6

The University of Wisconsin at Stevens Point plans to cut six mostly humanities majors, less than half of the cuts proposed in March, as part of its strategy to offer more career-focused programs, the university announced on Monday.

The cuts would result in the layoff of at least three tenured professors, as well as up to seven more faculty members, the Milwaukee Journal Sentinel reports. The six eliminated majors are in art, French, geography, geoscience, German, and history, according to a university news release.

In March the university announced that it would cut up to 13 mostly liberal-arts majors while adding 16 vocational programs. The university cited declining enrollment and a $4.5-million deficit as reasons for the cuts.

Monday’s announcement could be a pleasant surprise for the seven departments whose majors were saved from the chopping block.

About half of the original majors to be cut were spared in part because of student and alumni resistance, news-media attention, and criticism from national organizations, said Jennifer Collins, chair of the faculty council and an associate professor of political science.

The preservation of the seven majors, including Spanish, is a partial win, Collins said. However, the overall changes are still upsetting and will hinder the university’s ability to offer a comprehensive education, she said.

The university also found some savings in its budget, said Greg Summers, the provost. The administration spoke with governance committees and advisory boards to refine the proposed cuts after the original announcement was made.

The 13 departments had opportunities to meet with the chancellor and the dean, said Tobias Barske, a German professor and chair of the department of world languages and literature.

Some of those departments were more successful in their meetings than others, he said. The German department, with about 15 student majors, was among the unsuccessful. “I wasn’t surprised that German was on the list,” he said.

Although the university’s proposal suggests that students will be able to continue taking German classes, Barske said he expects all German courses and study-abroad opportunities to be eliminated eventually. In three years, he said, French classes will not be offered either.

Students in the six eliminated majors will be able to complete their degrees, according to the news release.

But Barske questioned the feasibility of that. He said he had already been asked by students if they should leave Stevens Point for a better education elsewhere.

As for the history department, it has seen a 48-percent drop in the number of majors over the past five years, from 146 to 76 students, the Milwaukee Journal Sentinel reports.

The department remains on the list of cuts to help meet budget reductions, said Lee L. Willis, a history professor and department chair.

The history department has 14 full-time faculty members, including 11 who are tenured. The department will most likely be reduced to 10 faculty members, and at least one tenured professor will be let go, he said.

The changes are ultimately a response to the evolving demands of career-oriented students, Summers said.

“Our students are laser-focused on the cost of higher education and the return they’re going to get on their investment,” he said. “They’re looking for careers with multiple pathways and the skills they know they need to succeed in those careers.”

The university plans to maintain its liberal-arts foundation with the creation of two new programs, the Institute for the Wisconsin Idea and the Center for Critical Thinking, according to the news release. The institute will introduce a new liberal-arts curriculum that complements “career oriented” majors, such as areas of study within a proposed School of Computing and Information Science, in addition to a focus on critical thinking, according to the release.

The proposal will undergo several rounds of review before the spring of 2019, and the first changes will be in place by July 2020, according to the news release.

[“source=TimeOFIndia”]