covid

New Biden Covid Student Loan Help

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student loan payments covid

A whole lot of Covid financial relief protections were scheduled to end in December. As expected, some of those money helping tweaks have been extended in 2021. For example, the Biden administration recently extended the mortgage foreclosure moratorium and forbearance protections. Student Loan Relief Flexibility On January 20, 2021, various student loan relief measures were extended through September 30, 2021. Student Loan Interest Rate Set to Zero Most federally owned student loans have had their interest rate set to zero percent during the pandemic. This continues through September 30, 2021. The zero percent interest rate is pared with student loan payment suspension. Technically called administrative forbearance, student loan payment suspension allows borrowers to skip student loan payments without late payment penalties, or any other negative effects. If you have lost your job, or are having other financial difficulties during the Covid pandemic, then this is a useful way to help save some money for use toward other things. Is Acorns safe? However, if you are not having financial difficulties, and are still getting your normal paycheck from your job, this is an excellent opportunity to improve your overall financial health. Although your loan administrator will automatically place your student loans …

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What Else Is In New Covid Stimulus Bill

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new covid stimulus bill details

If you are interested in financial independence, you know you need to watch and manage your money beyond a new $600 stimulus check. You need to know what else is in the new Covid stimulus bill. Here are the new Covid stimulus bill details you need to manage your money. New Covid Stimulus Bill Breakdown New Covid Stimulus Checks By now, you have probably heard about the new $600 stimulus checks, and the fight over whether or not to get $2,000 stimulus checks. Mitch McConnell has blocked $2,000 stimulus checks and runs the Senate like he is the King of the Senate, so that means there is no debate, no compromise, and not chance of $2,000 stimulus checks coming, so don’t bother worrying about that. The $600 is per person, and includes children. So, if you are married with two kids, you can look for $2,400 stimulus checks. It works the same as last time with the IRS using your direct deposit information. If you did something to fix your direct deposit info last time, it should stay fixed for this time as well. There are income phaseouts again to keep the payments from going to higher-income earners. Couples making …

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Covid Student Loan Relief Ending Soon

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covid student loan relief

In March, the government began offering options to help benefit borrowers with student loans during the Covid pandemic. The Covid student loan benefits were to stop collecting on student loans, to charge 0% interest rates on student loans, and to suspend student loan payments. Basically, you could turn off paying on your student loans with no detriment. Or, if you were one of the lucky ones still doing well during the Covid crisis, you could keep making loan payments and get ahead thanks to zero percent interest. The benefits only applied to federal student aid loans, and do not apply to private student loans. One of the downsides of programs like SoFi student loan refinances is that the refinanced loans become private student loans and no longer benefit from any federal student loan programs, even though the Sofi student loans interest rates can be much lower than regular student loans. Private student loans are not regulated by the Department of Education Student Loan Covid Scams Unfortunately, as is often the case, scammers were not far behind the news announcing these student loan aid provisions. They came back out when Congress passed a law making the Covid student loan aid last …

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Covid Investing – Just 1 Tip

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covid investing

People keep asking me about how to invest based on Covid. Covid investing would be the idea of investing in the potential vaccine manufacturers, distributors, the company that makes glass vials, and things like that. Those company’s stocks are already up on the hope that they’ll benefit. It’s unlikely they are underpriced relative to risk at this point. However, there is an easier way to make a Covid investment. Covid Vaccine To update the original post I must point out that the potential Covid vaccine has arrived faster than I thought it would. The economy is still on the bring thanks to Congress’ inaction on a stimulus package, but in the short-term, expect investors to focus on the vaccine and what might mean for companies, with or without a stimulus. Watch for a lot of over-optimism in the vaccine manufacturers such as Pfizer. If one of them comes out as the dominant winner, then that could really move the needle for them, but present a lot of risk for the others. In my opinion being the main vaccine provider is now priced into all three stocks with vaccines pending before the FDA. Unless they all get something like a third …

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Fed Says 0% Interest For Years

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future tunnel

According to news reports, the Federal Reserve will signal that its interest rate plan will remain unchanged through the end of 2023. These kinds of “leaks” are typically from Fed staffers trying to lessen any shock ahead of the actual Fed meeting. What 0% Interest For Three Years Means For starters, this is both a bold, and a baloney statement. It’s bold in that stating there will be no interest rate hikes for three years, the Fed is making a prediction about the U.S. economy and where it will be going and committing to 0%. It’s baloney, because if things go well coming out of the whole Corona virus thing and the U.S. economy roars ahead in 2021, or 2022, the Fed will just come out with a new statement saying that economic data dictate a new policy direction. So, what is the point of the Fed’s statement? Investors know how to make money. It isn’t about predicting the future, it’s about determining what the risk is and pricing it accordingly against the possible return. This is a lot easier than it sounds. It requires looking at an impossible number of variables, and weighing each one. In the end, the …

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