Finance
Finance experts share tips for federal student loan borrowers
/cloudfront-us-east-1.images.arcpublishing.com/gray/KHTBQQXUSZD5TF7KP45CWOYBEY.jpg "Finance experts share tips for federal student loan borrowers")
TOPEKA, Kan. (WIBW) – With student loan repayments back on the table financial experts say it’s time to start learning your options.
“A lot of people are disappointed that after a 3-year hiatus the loan payments are going to be picked back up on 28 billion borrowers for their student loans and for a lot of these people they thought the debt was just going to go away. It was a major platform for the Biden administration and it got this close to happening before the Supreme Court said that Biden didn’t have the authority to do so,” says Personal Finance Expert, Bill Dendy.
Some borrowers have a 12-month grace period starting in October.
Experts say you can and should still make those payments, if possible.
“Some people are going to find that they don’t have to pick up their payments because they qualify for the save program they can continue to defer their payments. Others who make more money that’s great and we have the ability to pay it well let’s see if we can drive the interest rates lower by doing the online payment programs,” says Dendy.
You should also research different payment plans and options you may qualify for.
“The nice thing is we have always had programs which would allow those that go into public service to have their debt erased after 10 years. well, the 3 years we’ve already been in deferment plus any time you might spend in the safe programs count towards those 10 years so some people are going to have an ability to still defer making these payments,” says Dendy.
Even if you are not in debt now experts say you could still be affected in the future.
“Overall student loan debt is at $1.7 trillion. There are economists saying we have so much debt outstanding and people who are concerned that they can’t pay the debt and this may lead us into that recession. So we should care even if we don’t have the debt about what those around us are suffering,” says Dendy.
For more tips on paying student loan debt click here.
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“We’re seeing everyone recognise we’ve got to build up resiliency,” said Jane Fraser, CEO of Citigroup. “It’s easy to say globalisation is dead. It’s not. It’s just changing tremendously.”
BNP Paribas chairman Jean Lemierre said trade is a matter of negotiation. “The end result will be an agreement because otherwise it would be terrible for each of us.”
Lemierre said that wisdom should lead to solutions for trade tensions, which is all about “tariff, quota, reciprocity and timing”.
“We know the parameters of the discussion, so wisdom should lead to this type of approach,” he said.
Greening and scaling up public finance is critical, but it is not enough. Significantly scaling up private sector finance, including through greening value chains, green financial products (e.g. funds and loans) and carbon finance is needed to channel more resources toward activities with a positive impact on the environment and society.
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Nvidia (NVDA) mania is heating up ahead of the market darling’s Wednesday earnings report.
The company is “representative of the most important stocks in America,” EMJ Capital founder and president Eric Jackson told Yahoo Finance executive editor Brian Sozzi on his Opening Bid podcast (listen in below; video above).
Jackson reiterated his call that Nvidia’s stock could double within the next twelve months given its wide lead on AI chip production.
“The investments [in AI] are just getting started,” Jackson added. “The need for these chips is still going to continue for the next year or two or three.”
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Nvidia’s stock has surged more than 2,600% in the past five years according to Yahoo Finance data, fueled by one impressive quarter after another as it grabbed the top position in cutting-edge chips.
The company’s strong performance are expected to continue in its fiscal third quarter — sales and profits are each estimated to be up 83% from a year ago. Wall Street remains bullish on its favorite stock.
Of the 63 sell-side analysts that cover Nvidia, 59 rate the stock a buy or strong buy, Yahoo Finance data shows. The average price target stands at $160.38, about 13% above current levels.
“We see the near-term risks as largely balanced and we are buyers of Nvidia heading into its fiscal third quarter earnings report scheduled for Wednesday. Positive set-up indicators from accelerating bookings at cloud service providers, an upward bias on hyper-scale capital expenditures, as well as our view that near-term estimates will increase post the earnings call,” Evercore ISI analyst Mark Lipacis said in a client note on Monday.
Lipacis says if Nvidia were to let investors down, it would come in the form of decelerating revenue growth.
There has been a whirlwind of activity around Nvidia as of late.
In addition to achieving world’s most valuable company status by nudging out Apple (AAPL) and Google (GOOG), Nvidia joined the Dow Jones Industrial Average on Nov. 8. Former chip leader Intel (INTC) was kicked out.
“It’s good that Nvidia is part of the mix now,” Jackson said, noting it could encourage purchases from retail investors.
One potential hiccup is the restrictions around selling to China by the Biden administration and subsequent write downs which were a “meaningful part of their quarterly earnings,” Jackson said. “They had to take it down to zero.”
Incoming president Donald Trump could stay firm on the chip issue as well, making good on his campaign promises around China.
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