On January 10th, Auburn’s Center for the Study of Theological Education hosted a webinar for financial aid officers, admissions staff and student personnel at theological schools on the latest government regulations for income-based repayment plans for federal educational loans. This information will assist financial aid officers and others who counsel students and recent graduates in repayment options as they move into ministry.
For my senior marketing capstone project I had to create a theme-based personal marketing plan. This is my sports themed personal marketing plan. I created a media guide similar to media guides used by sports team.
For my senior marketing capstone project I had to create a theme-based personal marketing plan. This is my sports themed personal marketing plan. I created a media guide similar to media guides used by sports team.
Here is a fabulous tool you might find useful for your individual tax return preparation.
This document contains key numbers and tax rate tables for 2011 and 2012.
A non-political, mathematical dive into the U.S. Budget gave me a clearer view of a key hidden cause, and the path toward a surprisingly easy fix. Here is what I found.
Thank you to all who could make the webinar “New GFE/HUD-1, Mortgage Brokers Really Need to Know This Stuff", I have included the power point for you.
If you did not get a chance to attend, I’ll forward the web address once available.
Regards and thanks for all the great feedback!
A compilation of key financial and tax numbers. It thought this would be helpful to my financial services, CPA and attorney friends. But it is good information really for anyone. Feel free to download and share.
Dr. David Kohl - Financial and Management Planning for Young ProducersJohn Blue
Financial and Management Planning for Young Producers - Dr. David Kohl, Professor Emeritus, Agricultural Finance and Small Business Management, Virginia Tech, from the 2013 Minnesota Pork Congress, January 16-17, Minneapolis, MN, USA.
More presentations at http://www.swinecast.com/2013-minnesota-pork-congress
$200,000 Mortgage Total Costs Analysis ReportPeter Boyle
The mortgage total cost analysis report is a custom report helping home buyer's and homeowners in selecting the home loan program appropriate for their lifestyle and goals. The lowest interest rate loan is not always the best loan.
These are the worksheets discussed in my RETSO presentation from Atlanta 2011. These are free to use with your agents (or yourself) please share any thoughts, successes or changes you have made with me.
Patron Loyalty presentation from 2012 National Alliance for Musical Theatre C...TRG Arts
Learn how The 5th Avenue Theatre, in concert with TRG Arts, is building a wholly new model of patron engagement. Organizations from small to large will benefit from viewing their patrons through the lens of loyalty. Learn techniques that you can take back home to drive retention as well as increase engagement and revenue.
From the National Alliance for Musical Theatre's 2012 Conference in Seattle.
Here is a fabulous tool you might find useful for your individual tax return preparation.
This document contains key numbers and tax rate tables for 2011 and 2012.
A non-political, mathematical dive into the U.S. Budget gave me a clearer view of a key hidden cause, and the path toward a surprisingly easy fix. Here is what I found.
Thank you to all who could make the webinar “New GFE/HUD-1, Mortgage Brokers Really Need to Know This Stuff", I have included the power point for you.
If you did not get a chance to attend, I’ll forward the web address once available.
Regards and thanks for all the great feedback!
A compilation of key financial and tax numbers. It thought this would be helpful to my financial services, CPA and attorney friends. But it is good information really for anyone. Feel free to download and share.
Dr. David Kohl - Financial and Management Planning for Young ProducersJohn Blue
Financial and Management Planning for Young Producers - Dr. David Kohl, Professor Emeritus, Agricultural Finance and Small Business Management, Virginia Tech, from the 2013 Minnesota Pork Congress, January 16-17, Minneapolis, MN, USA.
More presentations at http://www.swinecast.com/2013-minnesota-pork-congress
$200,000 Mortgage Total Costs Analysis ReportPeter Boyle
The mortgage total cost analysis report is a custom report helping home buyer's and homeowners in selecting the home loan program appropriate for their lifestyle and goals. The lowest interest rate loan is not always the best loan.
These are the worksheets discussed in my RETSO presentation from Atlanta 2011. These are free to use with your agents (or yourself) please share any thoughts, successes or changes you have made with me.
Patron Loyalty presentation from 2012 National Alliance for Musical Theatre C...TRG Arts
Learn how The 5th Avenue Theatre, in concert with TRG Arts, is building a wholly new model of patron engagement. Organizations from small to large will benefit from viewing their patrons through the lens of loyalty. Learn techniques that you can take back home to drive retention as well as increase engagement and revenue.
From the National Alliance for Musical Theatre's 2012 Conference in Seattle.
This is an opportunity that the american people can learn how to bank like a bank. Think when the back close they don\'t use no one to move money. They use a sophisticated software solutions to move and grow money. They use a Mathematical Algorithm. So, if a bank uses Algorithms to build wealth why can\'t the consumer can use an Algorithm to save money and build wealth. Contact me I can show you how you can do this just with your income you bring home now.
Greg Poulsen, vice president of strategy for Intermountain Healthcare, gave the Salt Lake Chamber Capitol Club an inside look at the federal healthcare bill and the effect it will have on reform efforts in Utah.
Retirement Planning- Case studyPart 1A) SMART Goal Setting.docxronak56
Retirement Planning- Case study
Part 1
A) SMART Goal Setting
Specific
What: They should to achieve debt freedom and save enough money before age 65. They supposed to decrease his daily expense to save more money, to pay off the current loan and some credit debts. Then they need to start RESPs for their children.
Why: Their Net cash flow was negative, it means they have more expense than income. They must find a way to solve these problem, even through they have 308879.63 net worth, but it is useless. They have too many loan and mortgage need to repayment.
Where: They should focus on house mortgage first, because that $300000 mortgage with interest rate is 4.75%.
Who: their children. When they do this financial planning, their kids is inherently involved in.
Which: They have some constraints which is that they need to pay education for kids, they have economic pressure, so saving money is hard thing for them.
Measurable:
They want to save $2000 per month to pay off their mortgage $1897.57 monthly.
Achievable:
We suggest saving money from Entertainment and Transportation.
· Yearly expense
Travel $120, Activities $360, Alcohol $120 totally is $600
We also can decrease expense form car insurance, Colin and Jill can use one car and suspend the car insurance saving $1440 yearly.
They already saving $2040 for one year.
Realistic:
That is realistic because they can easily to save money form their income, they need to know how to budgeting their money, especially they already have two kids.
Time-Limited:
They will save money form their daily life for $2040 for one year, their yearly mortgage is $1897.57*12= $22770.84, they need to saving 10 years money to pay off one year mortgage.
B) Cash Flow Statement & Net Worth Statement
According to the expense statement for retirement planning, I estimate the expense after Colin and Jill retirement is $28546.68. It means they need income after tax is same amount.
Electricity/water: When they are after 65 year old, they should sleep so early that compare with before. That’s why their electricity usage rate is going down. Change $150 to $100 per month
Internet: they don’t use internet after 65 years old, because they always watching TV or reading book, no time to use internet. Change $100 to $50 per month
Groceries: it will change some because they want to be health, and will buy many nourishment and fruits,and more milk. Not changed.
Eat-out: eat-out cost will be decrease, they usually cook at home. Change $100 to $50 per month
Colin&Jill car insurance: They don’t need two cars for driving, so they can just drive one car with one car insurance, so the cost will be decrease. Decrease $110 per month
Gas fee: gas cost also decrease because two cars in stead of one car.
Medical: Colin has high blood pressure, his medicines cost will increase.
Travel: Colin and Jill like to long-distance travel every month,so that’s why travel cost is increased. Change $50 to $ ...
This is a presentation I gave to my writing for the organization class. We were assigned to give an informative speech. I chose retirement because too many times its overly complicated and many young people cannot understand it.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
3. Overview
The Problem: Student Debt
Income Driven Repayment Plans
1. Income-Contingent Repayment
2. Income-Based Repayment
3. Pay As You Earn Repayment
Example
Initiatives and New Legislation
Helpful Links
Update on Auburn Study
Copyright Educational Avenues 2013 all rights reserved
7. FY 2010 2-Year Official National Student Loan
Default Rates
Source: http://www2.ed.gov/offices/OSFAP/defaultmanagement/defaultrates.html
8. How Can We Help?
Encourage financial planning before enrollment
Conduct comprehensive exit interviews
Enhance literacy about repayment options for future
Help students and graduates avoid default
9. If student loan debt is high relative to income,
investigate options for reduced monthly payments!
10. What are the options? Income-Driven Plans
Income Contingent Repayment Plan (ICR) 1994
Direct Loans only
http://studentaid.ed.gov/repay-
loans/understand/plans/income-contingent
Income Based Repayment Plan (IBR) 2009
Direct Loans and FFELP Loans
http://studentaid.ed.gov/repay-
loans/understand/plans/income-based
Pay As You Earn Plan (PAYE) 2012
Direct Loans only for 2008-2012 cohort
http://studentaid.ed.gov/repay-loans/understand/plans/pay-as-
you-earn
11. Income-Driven Plans- Eligible Borrowers
ICR:
Direct Loan borrowers with eligible loans
IBR:
Direct Loan and FFEL Program borrowers with eligible loans
Their payments would be lower on IBR relative to what would
have been paid under the 10-year standard repayment plan (called
“partial financial hardship”)
PAY AS YOU EARN:
Direct loan borrowers with eligible loans
Must be new borrower on/after 10/1/2007 who received new loan
on/after 10/12011
Their payments would be lower on Pay As You Earn relative to what
would have been under the 10-year standard repayment plan (called
“partial financial hardship”)
12. Exceptions to Eligibility
PLUS loans for parents
Consolidation loans that repaid PLUS loans for parents
Loans in default
Private, Alternative Education Loans
13. Income Contingent Repayment (ICR)
Direct Loans only
ICR plan bases repayment amount on 20% of
discretionary income*, family size, size of loan, the
interest rate applicable to each loan
More information available at
https://federalregister.gov/a/2012-12420
*Discretionary Income = Adjusted Gross Income (AGI)
Minus Poverty Level Guideline Divided by 12
14. ICR Features
25 year term after which balance is forgiven
For those in low paying jobs
Adjusted annually based on yearly reapplication
10% cap on capitalization of interest
May be used with Public Service Loan Forgiveness
Program (PSLF)
15. 10-Year Public Service Loan Forgiveness
Any not-for-profit 501(c )(3) organization
For organizations that are religious:
Hours of work must be at least 30 per week
Exclusions: religious instruction, worship services
Must make on-time full payments, monthly under a federal
repayment plan
www.studentaid.ed.gov/pubs
16. Eligible Federal Loans for IBR, Pay As You
Earn
Undergraduate, graduate and professional federal loans
incurred before and during theological education
Direct & FFEL Subsidized and Unsubsidized Stafford
Direct & FFEL PLUS Loans made to graduate or
professional students
Direct and FFEL Consolidation Loans without underlying
PLUS loans made to parents
For ICR – direct loans only are eligible
17. Income Based Repayment (IBR)
Borrower must have a partial financial hardship
Based on annual income and family size
Adjusted each year, based on changes to annual income
and family size
Usually lower than under other plans
Never more than the 10-year standard repayment
amount
Made over a period of 25 years
18. IBR Features
Allows borrowers to cap student loan payments at 15%
of current discretionary income
Discretionary income = AGI minus 150% of Poverty
Guideline based on:
Family Size
State of Residence
Starting in 2014 will cap borrower's monthly payments at
10% of discretionary income
Loan servicer performs calculations
http://studentaid.ed.gov/repay-
loans/understand/plans/income-based
19. IBR Advantages
Pay based on what you earn
Interest payment benefit
Limitation on capitalization of interest
25- year loan term - then forgiveness
10- year Public Service Loan Forgiveness
No cost to American taxpayers
20. IBR Disadvantages
You may pay more interest
You must submit annual documentation
Pay tax on “forgiven” amount after 25 years.
21. New Pay As You Earn Program (PAYE)
ICR regulations amended for December 2012
Implementation for 2008AY - 2012AY cohort only
For new borrowers
Reduces maximum annual payment from 15% of
discretionary income to 10%
Reduces forgiveness time from 25 years to 20 years
Allows for consolidation with loans-in-good-standing
originated before 2008
23. Compare IBR and PAYE
IBR Pay As You Earn
Loan debt must be high Loan debt must be high
Lower scheduled monthly Lower scheduled monthly
payment payment
Interest payment benefit Interest payment benefit
15% of discretionary 10% of discretionary
income income
25 year cancellation 20 year cancellation
10 year Public Service 10 year Public Service
Forgiveness Forgiveness
Must be a new borrower
24. Compare IBR and PAYE (cont.)
IBR Pay-As-You-Earn
You may pay more You may pay more
interest interest
You must submit annual You must submit annual
documentation documentation
No interest grace period No interest grace period
Payments can be as low as Payments can be as low as
zero zero
27. Example of Monthly Payments on Stafford Loan Debt of $50,000
Standard Repayment (10 years @ 6.8%) vs. Income Based Repayment (IBR) and Pay As
You Earn (PAYE)
$700
$600 $576 $576
$500
Monthly payment
$400
Standard
$291 IBR
$300
PAYE
$194
$200
$100 $68
$45
$-
Single, with $40K in Discretionary Family of four with $40K in
Income Discretionary Income
28. Example
If borrower does not qualify for IBR or PAYE
Consider the Income Contingent Plan (ICR)
Considers Discretionary Income
Family Size
Total amount of Direct Loans
29. “Right now only 972,000 graduates—about
2.6 percent of all borrowers—are using
Income-Based Repayment plans. Two to
three million further borrowers could
qualify for the program.”
Mark Kantrowitz, Publisher of FinAid.org
30. Try Out This Calculator
http://studentaid.ed.gov/repay-
loans/understand/plans/income-based/calculator
31. The Case of Joe Borrower,
Master of Theological Studies 2006
Joe is single, his income $30,000
Under IBR Joe generally pays 15% of his discretionary income
Payments only based on income
Payments capped at what he would have paid on the ten-year
standard repayment plan
Note: ICR does not cap payments relative to standard 10
year plan, so payments could become higher than in the ten-
year standard repayment plan.
32. Is Joe eligible for PayAsYouEarn?
He’s not part of the 2008AY-2012AY cohort of
borrowers
The majority of theology graduates likely borrowed
before this cohort
The best deal will take some crunching of numbers
Use the calculators
The Department of Education ultimately has to approve
a plan
33. What Borrowers Don’t Know Can Hurt
Them!
Private lenders are not required to explain repayment
options.
Federal loan websites are informative and easiest to
use—at a minimum, point students toward these
resources.
Make good faith efforts to educate alums, as well as
graduating students, about alternative repayment plans.
34. Impacts of Recent Legislation
There is a window of people who are eligible now who
can go to the Pay As You Earn Plan—you are currently
working with these students!!
If students choose occupations in public service and have
made 120 full on-time monthly payments, they could be
eligible to have the remaining balance forgiven through
the Public Service Loan Forgiveness Program.
New benefit: A borrower can switch to another
repayment plan pretty easily, but annual application and
yearly approval of Department of Education will be
required.
35. On the Horizon?
Possible expansion of PAYE in 2014
The Department of Education is pursuing administrative
action that may extend lower payments to more
students as soon 2013
36. Helpful Links
Repayment Plans and Calculators
www.studentaid.ed.gov
Income Contingent Repayment (ICR)
http://studentaid.ed.gov/repay-loans/understand/plans/income-contingent
Income Based Repayment Plan (IBR)
http://studentaid.ed.gov/repay-loans/understand/plans/income-based
Pay As You Earn Plan (PAYE)
http://studentaid.ed.gov/repay-loans/understand/plans/pay-as-you-earn
Public Service Loan Forgiveness
http://www.studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/public-service
Improving Repayment Options for Federal Student Loan Borrowers (A Presidential
Document by the Executive Office of the President on 06/13/2012)
https://www.federalregister.gov/articles/2012/06/13/2012-14537/improving-repayment-
options-for-federal-student-loan-borrowers
ICR Update:
https://federalregister.gov/a/2012-12420
Federal Student Aid Resources
www.studentaid.ed.gov/pubs
37. Helpful Links
Federal Student Aid Conference 2012 link:
Conference link: http://fsaconferences.ed.gov/index.html
Sessions link: https://client.blueskybroadcast.com/fsa/2012/index.html
US Department of Education Loan home page:
https://studentloans.gov/myDirectLoan/index.action
http://www.nslds.ed.gov/nslds_SA/SaEcTour.do?page=SaEcIntro1
(exit interview)
Information on the temporary suspension of grace-period interest subsidy
currently in effect:
http://studentaid.ed.gov/sites/default/files/2012-13-funding-your-education-
errata.pdf
Elimination of Grace Period Interest Subsidy This provision eliminates the interest
subsidy provided during the six-month grace period for Direct Subsidized Loans for which
the first disbursement is made on or after July 1, 2012, and before July 1, 2014. Students
receiving a subsidized loan during this timeframe will be responsible for the interest that
accrues on the loan during the grace period. If a student does not pay the interest accrued,
the interest will be added (capitalized) to the principal amount of their loan when the
grace period ends.
38. We want to help people avoid this situation :)
39. Conclusion
Update on Auburn Study
Contact us at:
www.auburnseminary.org/CSTE
CSTE@auburnseminary.org