| Student loan options are baffling to family
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down her $25,000 in student loans. Wons did what any wise parent would do. She asked for help. Wons's daughter works as a project manager at a medical software company. She has an annual salary of more than $50,000. Her employer provides a 401(k). She has about $13,000 in cash from recently redeemed Series EE savings bonds. She has no credit card debt. She has no payments on a reliable car with low mileage. She's sharing an apartment and other living expenses with an older sister in Madison, Wis. Her portion of the rent is a little more than $500 a month. Wons is unsure about the course her daughter should take: Should the daughter consolidate her college loans during her six-month grace period? (She has federally backed Stafford and Perkins loans.) Should she use the entire $13,000 to pay down the loans or keep making monthly payments to take advantage of the interest deduction? Should she invest all of the $13,000? While paying on the loans, should she contribute to her 401(k)? Let's take the consolidation question first.
Rein in spending and avoid credit-card debt
Question: I have credit-card debt at high interest rates on several cards, as well as student loans. Going into my last year in college and being wary of the future, carrying this debt scares me. I have been wondering if I should consider a debt-consolidation loan. What do you think? Answer: I am not a fan of consolidation loans. What attracts most people to consolidation loans is the potentially lower monthly payments. However, the main drawback of such loans is that they usually raise a person's average interest rate on his debt. .
Nigeria: Sterling Bank Posts N3 Billion Pre-Tax Profit in Nine Months
Sterling Bank PLC has announced a profit after tax of N2.47 billion for the nine months ending June 30th 2007. This represents an increase of 135 per cent when compared with the previous period. It would be recalled that Sterling Bank was formed from the merger of Indo-Nigeria Bank Limited, Magnum Trust Bank Plc, NBM Bank Limited, NAL Bank Plc and Trust Bank of Africa Limited. .
School's In: Home Loan U Educates Consumers Before Shopping for a Mortgage
With all the turmoil in the mortgage market, it is more important than ever that consumers be informed and educated about the entire lending process and are diligent in selecting a reputable lender. To help with this, Quicken Loans, one of the nation's largest mortgage lenders, has recently created Home Loan U, a series of personal finance education guides that are available as free downloads at http://www.HomeLoanU.com Livonia, Mich. (PRWEB) August 14, 2007 -- With all the turmoil in the mortgage market, it is more important than ever that consumers be informed and educated about the entire lending process and diligent in selecting a reputable lender. "The subprime lending woes have led to tighter lending guidelines in conventional lending too. Lenders now require higher credit scores and larger down payments for consumers with good credit.
Manulife Financial Corporation reports record second quarter earnings of $1.1 billion
Manulife Financial Corporation today reported record shareholders' net income of $1,102 million, an increase of 15 per cent over the second quarter of last year. Fully diluted earnings per share were $0.71, up 18 per cent from one year ago. As well, adjusted return on common shareholders' equity(1) was 18.5 per cent, an increase of 220 basis points. Second quarter premiums and deposits rose to $16 billion, an increase of five per cent over last year when considered on a constant currency basis. Growth was a result of continued strong sales and growth in recurring premiums and deposits. "The second quarter was a solid one for our Company," said Dominic D'Alessandro, President and Chief Executive Officer of Manulife Financial. "Our businesses continued to deliver strong earnings and sales growth and our return on equity hit a post-merger record.
Africa: Testimony of Dr. Wafula Okumu - U.S. House Africom Hearing
Washington, D.C. Dr Wafula Okumu Head, African Security Analysis Programme, Institute for Security Studies, Pretoria, South Africa, testimony given to the House Committee on Foreign Affairs, Subcommittee on Africa and Global Health, "Africa Command: Opportunity for Enhanced Engagement or the Militarization of U.S.-Africa Relations?" August 2, 2007: Introduction .
Pontiac hospitals to merge services
In what may be a precursor to a merger, two Pontiac hospitals have announced a partnership that will allow both to operate independently but will consolidate some services to save money. Under North Oakland Medical Centers' affiliation with St. Joseph Mercy Oakland, North Oakland will cut operating costs, in part through better purchasing arrangements. Independently operated North Oakland will close its neonatal intensive care and pediatrics units and refer patients to St Joseph. Baby deliveries will take place at St. Joseph, which is part of the larger Catholic health system Trinity Health. North Oakland will open a 40-bed acute care unit for patients who are too sick to go to a nursing home but don't need the intensity of care of a hospital. St. Joseph, with 428 beds, and North Oakland, with 366 beds, are a few minutes from each other, but have very different financial outlooks.
|
