Category: Financial

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Career & Education Education Financial Government Grants Loans

Federal Grants For Back To School

Federal Grants For Back To School

Your education experience never has to end. In fact, you can be a student for all of your life if you want to. And just because you are older and going back to school doesn’t mean you can’t receive federal financial assistance. You may be eligible for grants and scholarships for returning students if you are returning to college as an adult. Nontraditional college students, in fact, are eligible for financial help as well as low-interest federal loans. These alternatives may lower the cost of college and minimize the amount of student loan debt you must take on to pay for it.

How To Get A Grant

If you’re considering returning to school, the first step is to fill out the Free Application for Federal Student Aid. This is often known as the FAFSA. To provide you access to federal grants, loans, and work-study programs, the federal government and schools in the United States must examine your FAFSA.

Far too many people think that FAFSA and other grants only apply to younger, college-aged students. But the truth is that federal assistance has no age limitations. An adult student fills out the FAFSA in the same way that a high school senior does. Even if you don’t qualify for grants, you should still apply for federal student loans through the FAFSA. Federal student loans offer lower interest rates and longer payback terms than private student loans, which might help you save money.

The Pell Federal Grant

When it comes to going back to school, you need look at more than simply FAFSA. The Pell Grant, for example, is available to college students of any age who can show financial need.

The amount of the grant is determined by your financial need, the cost of attendance at your selected institution, and whether you attend college part-time or full-time. The highest Pell Grant you could get for the 2020-2021 academic year was $6,345, but the ceiling varies each year.

Federal Supplemental Educational Opportunity Grant

You could be eligible for a federal Supplemental Educational Opportunity Grant, or FSEOG, as well.

FSEOGs, like Pell Grants, do not require repayment. They are, however, only available to students who attend a participating school.

An FSEOG might pay you anywhere from $100 to $4,000 per year, depending on where you attend to school, your financial condition, and other variables. The earlier you apply, the more likely you are to receive the award.

The TEACH Award

If you’re pursuing a degree in teaching or educational administration as an undergraduate, post-baccalaureate, or graduate student, you could be eligible for the federal Teacher Education Assistance for College and Higher Education (TEACH) award.

You can obtain a TEACH award for up to $3,772 if you agree to teach at a low-income school for at least four years.

If you don’t fulfill your service requirement, the government will turn your grant into a student debt that you must repay. As a result, it’s critical to think about whether a TEACH grant is suitable for you.

These are just some of the many federal grants available for students returning to school. Additionally, each state has its own many scholarships which gives new and returning students even more opportunities to continue their schooling career.

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Financial Real Estate

Delta’s Silver Lining? Mortgage Rates Stay Low

Delta's Silver Lining? Mortgage Rates Stay Low

Delta doesn’t really have a silver lining because there is nothing good about the delta variant of the coronavirus. The resurgence of the pandemic that started almost 2 years ago has been extremely difficult. But for home buyers, it might be a silver lining because mortgage rates have been at an all-time low.

Many people assumed that mortgage rates and housing costs would rise after the pandemic was almost over because mortgage rates have been at an all-time low since the winter. However, many people are wondering why mortgage rates have stayed so low even though many other parts of the economy are steady or even increasing.

Mortgage rates are tied to yields on treasury bonds. These are influenced by investor concerns about inflation and economic growth. Right now, inflation is extremely high because the overheating economy pushed yields higher.

The start of the contagious delta variant also sent inflation through the roof. The delta variant led to delayed reopenings and lower the growth of the economy. This directly means lower long-term interest rates and mortgage rates will continue to stay low. 

Lower rates mean that borrowing for mortgages is much lower than it normally would be. Another issue though is that inventory for houses is lower than normal because fewer people are moving and relocating for many different reasons. The supply of houses has improved some, but it still proves to be a major issue.

What Do Lower Interest and Mortgage Rates Mean for Me?

If you are in the home buying market, now is the time to buy a house. Even though the supply is low, it’s steadily increasing. Low mortgage rates and low interest rates mean you will get a house for a much cheaper price point, and you will be able to get a loan with lower interest than normal. Both of these factors mean now is the perfect time to buy a house.

However, on the other end, selling a home is not easy at this time. You might even get less than you paid for. If you have a lower price point, you might be able to sell the house easily but you will not make money off of it.

Should I Buy a House Now?

If you are looking to buy a home for the first time, now might be the best time. You will have a hard time finding rates and interest as low as they are now. Mortgages might even be lower than rent prices on certain homes and apartments depending on the state and area you live in.

Now is also the time to buy real estate property or rental properties. You will be able to get homes for lower price points and then be able to rent them once the economy gets back up and people begin to move and rent new places.

Even though the delta variant of COVID has caused a lot of damage, the housing and mortgage rates are at an all-time low.

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Financial Government Grants Loans

Grants 101: What Are Federal Grants?

Grants 101: What Are Federal Grants?

You have likely heard of federal grants before. However, did you know what they are and why they work and who they are awarded to? Did you know that federal grants come in many shapes and sizes and for many different practical reasons?

What Are Federal Grants?

A federal grant is basically a monetary or economic award made by the US government. They are made from monies available in the general federal revenue. The funds might be in the form of a loan, a percentage of the cost of a project or organization, or a full funding of a project, research, or other endeavor. Although the government alone offers nearly 1,000 different grant programs to qualified companies and organizations, dispersed by 26 grant-specific agencies and divided into 21 separate categories, grants are available from both the government and outside sources including foundations, non-profit charities, and non-profit corporations.

The categories are diverse and serve a certain demand or direction of growth. Individuals or corporations seeking grants must choose the area that best suits their unique needs. Some of these specific needs include the arts, trade and commerce, disaster assistance, housing, the humanities, technology and science, and education.

Who Are They Awarded To?

All awards are separated into two categories when it comes to obtaining funds: direct grants and pass-through grants. First up is the direct grant. A direct grant is one in which the beneficiary receives funds directly from the federal government, with no middleman.

These funds are advantageous since they need no additional red tape. They only need a single application and subsequent agreement with the federal government. After that, the money is awarded and able to be spent as the parties see fit.

The second category of grants is called pass-through. The federal government awards a pass-through grant to the state, which then distributes the cash to local applicants. This essentially means that applicants have fewer grant competitors, only other organizations or potential recipients in their state, and that applicants only need to visit their state capital for in-person clarification, appearances, or any other communications that would benefit from personal contact.

What Are The Specific Guidelines?

But even within those two categories, there are more specific guidelines that determine how to qualify and describe a federal grant.

A Project Grant is a sum of money given by the government to a certain “project” or study topic. Members of the research, education, and technology communities are frequently awarded project funds, providing they qualify and satisfy a few basic criteria. Generally, an applicant must meet certain criteria or requirements prior to applying for a grant (which is specified in detail for the specific grant sought), and project awards usually have a deadline when financing ends. A project award usually lasts three years on average.

A Categorical Grant is a little more particular, and it may only be utilized for specified, stated objectives. Grant recipients are frequently required to “match” the cash granted by the government, or at the very least contribute a percentage of the total cost. Categorical grants are the most frequent type of award, accounting for approximately 90% of all grants issued by the US government.

Of course, there is much more to federal grants than just that but that is a good primer and basic summary of how – and why – federal grants work.

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Credit Financial

How to Book a Hotel Without a Credit Card

How to Book a Hotel Without a Credit Card

A vital part of any vacation or out-of-town trip is your sleeping arrangements. Hotels, motels, lodges and the like commonly require credit cards in order to book or at check-in. This can prove to be troublesome if you prefer to carry cash or don’t have a credit card.

It’s certainly possible to book a hotel room without a credit card. However, it’ll require a little bit of extra work to get done. In this article, we’ll explain why credit cards are commonplace among lodging facilities. We’ll also give you tips on how to find a cash-friendly hotel and other important tips.

Why Do Many Hotels Require a Credit Card?

Prior to the 1950s, cash was king in just about every establishment. However, credit cards and the idea of personal credit took the market by storm. So, lodging establishments have adopted a card policy ever since.

While this seems like a hassle to a non-card-wielding person, the policies are put in place to protect the establishment and cover any arising fees. Most commonly, the card will be charged a deposit when you check in and if you cause any damage to the property, they have a card on file to charge you with. If the hotel only dealt in cash, this opens them up to potentially having to cover expenses that were the cash-wielding person’s fault.

Finding a Cash-Friendly Hotel

Although most establishments require a credit card, it’s possible some will accept cash too. Many chain hotels will accept cash for payment including Hampton Inn, Quality Inn, Days Inn, and Holiday Inn. This may vary by location though, so it’s important to call ahead and make sure before trekking there.

If you prefer to book online, using a website like booking.com is helpful because you can filter your results to only show places that accept cash. Local establishments that aren’t affiliated with any chain may also be accommodating to cash payers too.

Booking Tips

Once you’ve nailed down where you’d like to stay, there are a few different ways you may choose to book:

  • Book online using your bank debit card: This will ensure you have a room reserved when you get to the hotel. In most cases, you won’t be charged until checkout, so you can always switch payment methods when you get there.
  • Use a travel agency to help you: Travel agencies are equipped to help accommodate all of your needs. If you don’t feel comfortable calling a hotel, a travel agent will go through the entire process for you up until you leave for your trip.
  • Use a prepaid card to book your hotel: if you don’t want your bank account information connected to the hotel in any way, you could purchase a prepaid card at any major grocery store and book using the prepaid/gift card.

Parting Thoughts

Whether you don’t have credit available or you simply just prefer cash, you can absolutely book a hotel room without a card. Booking a hotel without a card requires a few extra steps, but it isn’t impossible.

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Credit Financial

Can You Use PayPal on Amazon?

Can You Use PayPal on Amazon?

In the world of online shopping, PayPal has become one of the most popular and most convenient payment options. But can you use PayPal to shop on Amazon? The short answer to this is no. There isn’t an option to pay for your Amazon cart directly through PayPal.

However, you can use PayPal indirectly to make Amazon purchases by using the different debit and credit cards PayPal offers. Read on to learn more about how to use your PayPal account to shop on Amazon.

PayPal Card Types

PayPal offers four different cards that connect to your balance: PayPal Cash Card, PayPal Business Debit Mastercard, PayPal Key, or PayPal Credit. Each of these come with there own benefits and drawbacks, all of which will cater to your specific needs and intentions of use. Here’s a quick overview of each card type:

PayPal Cash Card

The PayPal cash card is a debit card that can be used once you set up a PayPal Cash Plus account. The account is free to set up and essentially functions as a bank account. Once you receive your debit card, you can use it anywhere and the balance immediately gets taken from your account balance.

Because it’s a debit card, there are no monthly fees or minimum balance requirements. You can also withdraw money at any ATM without being charged a withdrawal fee. When you set up a PayPal cash plus account, you also receive a routing and account number to facilitate direct deposits.

PayPal Business Debit Mastercard

This card works similarly to the PayPal cash card but gives you the opportunity to earn cashback. Unlike the cash card, you have to apply for the business MasterCard and if you’re approved, you’ll receive the card within 7-10 days.

PayPal Key

PayPal Key is a virtual debit card that functions similarly to the other two options mentioned above. When using this option to online shop, you receive a virtual card number expiration date and security code.

PayPal Key is also free to use and doesn’t require a credit check or a complicated application process.

PayPal Credit

PayPal Credit is a revolving credit line that gives you a reusable credit line to make online purchases. Because it’s connected to your PayPal account, you have the option to pay your credit balance right away or over time and it’s easy to apply for too. This option is subject to credit approval through Synchrony Bank.

How to Use PayPal to Shop on Amazon

While you can’t pay for your Amazon cart with PayPal directly, you can use the options we mentioned previously to complete your purchase. You have the ability to use a PayPal cash card, the business counterpart, or PayPal Key to purchase right away. However, Amazon doesn’t allow you to use PayPal credit to directly pay for your cart.

There is a way around this, though. If you only have PayPal Credit, you can visit any major retailer that offers Amazon gift cards and purchase one there. You’ll then be able to use the gift card to purchase your cart.

Despite the inability to directly use PayPal on Amazon, you can certainly cheat your way around the restrictions.

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Credit Financial

How To Cancel a Pending Transaction

How To Cancel a Pending Transaction

Pending charges on your account happen. When the merchant has charged you for a payment, but your credit card company or financial institution hasn’t caught up yet. This happens every time you swipe your card or make a payment online. However, most transactions are completed so fast that you’ve got a notification on your PayPal or banking app almost instantly.

If you’ve got the funds available or you don’t have any upcoming bills, this isn’t usually a problem. But when your rent and other bills are due or you just simply can’t afford the hold to stick around, you have a couple of options.

Reasons to Cancel a Charge

In some instances, the charge you see is more substantial than you were expecting. When you check into a hotel room or rent a car, you’ll often be charged a deposit. Also, gas stations often place a hold when paying at the pump. These pending transactions can make things challenging. While they usually clear quickly, sometimes you are stuck with the charges longer than expected.

How Long Can a Pending Charge Last

Most situations leave you with your money back in your account within 24 hours, but this isn’t always the case. Some charges stick around for up to 5 days. How long they last depend on a few factors, including when the transaction was made as well as how long the vendor takes to process payments. If you paid with a credit card, the charge will probably last a few days.

The drawback to these pending charges is that they impact your available balance immediately. Most people can’t afford that extra $100 hold for paying at the pump, especially for nearly a week. If you have a charge that needs to be cleared up ASAP, the process depends on your form of payment.

Credit or Debit Card

The credit and debit systems are so similar and nearly instantaneous these days. You can dispute or cancel pending charges in more or less the same way in either case. Once the merchant has released any holds that they have applied, a pending charge can be removed by contacting the bank that issued the card. It doesn’t matter if it’s a credit or debit account.

In some cases, they may not be able to remove a pending charge. However, once they confirm that the merchant has canceled the transaction on their end, they will often advise that the pending transaction will disappear within a business day or two.

PayPal

If you have a pending charge through PayPal, and you need to cancel it for whatever reason, their interface makes it exceedingly easy to cancel or dispute charges. If the pending charge is fraudulent, explain this to their support team. They will often be able to instantly credit your account the disputed amount while the process is finalized on their end.

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Children Credit Family Financial Tax Services

Is Child Credit Still Relief Bill’s Best-Kept Secret?

Is Child Credit Still Relief Bill’s Best-Kept Secret?

This post-lockdown world is changing a lot of things for a lot of people. Even though there are millions of Americans that may be eligible for the debut of the Child Credit, there are some indications that they may not even know they should be getting this money.

A Financial Lifeline?

There will be monthly payments of up to $300 per eligible child as part of a completely overhauled 2021 tax benefit that proponents are touting as a “financial lifeline” for millions of eligible families. Some other estimates suggest that this benefit may be able to slash child poverty by nearly 50%.

But the problem is the families who need this money the most don’t seem to know about it. Many of them are non-filers with the IRS. This means in order to get their money, they will need to sign up separately at a website. Thankfully, the website is said to be up and running and operating smoothly. Indications at local events, however, show that a huge portion of the families that need this money, don’t know they are owed these payments.

The Campaign for Working Families, which is a non-profit tax preparation service for low-income families and others who qualify, says that they have signed up far fewer people for the credit than they initially anticipated. They are hearing from those affected, that even if a particular family is eligible for and due the child credit, the information surrounding how to sign up or provide information has proven confusing at points.

The Official Word From The IRS

The IRS says that for most people, the payments will happen automatically and no action will be needed. There have been some official IRS evens in cities like Philadelphia that have higher rates of non-filers than many other areas. These non-filers will not usually have much information on file with the IRS since they are not required to file yearly returns, due to low income or other circumstances, which means the IRS has no way of getting those families their money. This can be solved in most cases by simply visiting the IRS site.

IRS Web Tools & Opting Out

The IRS is offering some web tools to manage payment status as well as provide other functionality. There is a portal for those who may be receiving the payments but do not want to accept them currently. Maybe, if they expect their situation to change before the next tax filing season.

There is a series of deadlines for opting out, for those who do not wish to receive the payments. The next deadline is the 2nd of August to opt-out for the payment due on the 13th of August. The IRS site will provide a means to determine if you are eligible for the payments in the first place. This site will also let users verify that they have been enrolled, as well as update their banking information.

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Financial Real Estate

Can I Break A Lease And Leave Early?

Can I Break A Lease And Leave Early?

When you rent an apartment and sign a lease, staying there for the duration of the agreement seems like it will be doable. However, sometimes things come up. Whether you got a job offer in another location, have a family crisis, or any other reason, there are many situations where you would need to break a lease. The good news is, usually breaking a lease is possible.

While there are reasonable circumstances in which a lease would end early, you will likely still face some form of penalties for ending the contract early. Let’s take a look and see what your options are.

One of the most important things to keep in mind when planning to end your lease is that you signed a contract. That means it is legally binding. So, depending on the terms, your landlord may be able to take legal action against you for breaching that contract.

As a consenting adult, you agreed to meet the terms of the lease, but unexpected things do come up. Because of how unexpected life can be, leases are broken more often than you’d think. Even though leases are broken frequently, the tenant will still have legal obligations before they are completely free.

Reasons to Break a Lease

Moving onto the next chapter in your life is an exciting time, often with a few challenges involved along the way. One thing that can prove difficult is getting out of your lease early. Some reasons you may want to move to include:

  • Dealing with a crisis within the family
  • Relocating for school or work
  • Studying abroad
  • Moving in with a partner
  • Purchasing a home

Unfortunately, even the best personal reasons aren’t a valid reason to break your lease without penalty. Many landlords include a clause in the leases that outline the procedure of breaking the lease. They also include what consequences the tenant will face, if any.

How to Break Your Lease

Ending your lease early can be a difficult process in some places, but the first step should always be reading your lease to find out any details regarding breaking the lease. Some landlords include information about termination fees and appropriate notice. You should also read up on rental laws in your state or county.

If your lease doesn’t have any information about breaking the lease early, you’ll need to speak with your landlord or property management company. You may be nervous about approaching your landlord regarding breaking your lease, but it’s important to do this right away so you know exactly what your responsibilities are and so you can handle things the right way.

Consequences of Moving Early

Due to unanticipated developments, you may find yourself needing to get out of your lease sooner than planned. Moving early can come with consequences, such as continuing to pay the rent until the spot is filled or a fee, but ending your lease on good terms is always worth it.

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Financial Real Estate

15 Tools Every New Homeowner Should Own

15 Tools Every New Homeowner Should Own

Moving into your own place for the first time can be exciting and stressful. Making a list of all the things you might need when moving can be overwhelming. It’s often the simplest and most useful thing we forget. We might also not realize we need something until after the fact. Getting some of these tools will make sure you are prepared for any situation in your new home.

1. Flashlight

Hopefully, your power never goes out, but you never know what could happen. Keeping a flashlight in the house will give you a way to have some light in the case of power outages.

2. Duct Tape

Duct tape is known for being able to fix anything. It can be used to make temporary fixes while you want a professional to come and permanently repair the problem. It can also be used to tape pipes to keep them from bursting or leaking water.

3. Plunger

Sometimes this one is needed in a pinch and unless you thought of it ahead of time, you might find yourself stuck without one. They can be used to unclog sinks or toilets. They will often fix the problem very quickly and effectively.

4. Tape Measure

You never know when you might need to measure something. Tape measures are more versatile because they can measure larger areas including rooms and walls. This can help if you are installing something or doing another home project.

5. Safety Glasses

These can be used in cases of emergencies or if you need to mix chemicals. They can also be used when you are using a power tool.

6. Screwdriver Set

A small one and a large one are good ideas because they can reach every size area. Manual ones are also less likely to damage screws.

7. Wire Cutters

These can cut through wires and maybe even small nails depending on the quality of the pair.

8. Safety Mask

Paints can sometimes be toxic. So, if you are painting your home, you might need to wear a safety mask. They can also be worn if you are in a dusty or dirty environment.

9. Claw Hammer

You can use this to drive and remove nails. Make sure to get them in a variety of sizes.

10. Torpedo Level

This can help you hang paintings and another décor in a straight line making your home look more elegant.

11. Hacksaw Tool

You can use this tool to cut through metal objects like bolts and brackets.

12. Caulking Gun

This is great for sealing up cracks and gaps you may have in your structure.

13. Wrench Tool

This is great for tightening bolts or fixing pipes. Consider getting an adjustable one.

14. Pliers

This can help you pull out nails and bolts. Make sure to get one with flat and curved areas.

15. Wrench Sets

This gives you an open and closed loop. This lets you use remove bolts that are standard and metric sizes.

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Financial Insurance

Reduce, Pause, or Cancel Your Car Insurance

Reduce, Pause, or Cancel Your Car Insurance

In some cases, you might want to pause or cancel your car insurance on a car you aren’t actively using. It can be a great way to cut down on costs for a few months and save money that could be better used in another area of your life.

Some car insurance companies will allow you to suspend the car insurance for a few months while in others you will need to cancel it completely. It’s a common way for people to save money when they are having a financial hardship. Many companies will be lenient if you explain to them the situation and tell them it’s for economic reasons.

Most car insurance companies will make you call or appear in an office to pause or cancel your plan. This is for security purposes because they want to ensure that you are the one canceling the plan and not someone else.

Reducing Your Plan

This involves minimizing your plan to only pay for the car insurance parts that are required by your state. It’s called a minimum coverage option. Most states require you to have liability insurance, personal injury protection, and medical payments coverage.

You might want to also keep comprehensive coverage if you are storing the vehicle. This will make sure that the car is covered if it is stolen or is damaged from falling objects. It will also protect the car from vandalism.

Make sure to contact the DMV if you only have comprehensive coverage and not liability coverage. This way they know no one is driving the car and you only have insurance to protect it from non-driving damage.

They will usually make you file an affidavit so that it’s on file somewhere that no one will be driving the car.

Pausing Your Car Insurance

This allows you to stop paying the car insurance momentarily for a few months while you get your finances together. This allows you to keep from experiencing coverage lapse. It’s also more cost-effective than canceling your insurance and then reapplying for a new one at a later time.

Pausing car insurance is only allowed by some companies and usually under certain circumstances. You will also need to go to the DMV and get an affidavit of non-use. This allows you to legally stop paying car insurance while you are not driving the car.

This isn’t usually an option if you have a car loan. Lenders almost always require you to have coverage but check your agreement to see the specific protocols.

Canceling Your Plan

This will also not work if you have a car loan. Canceling completely ends your insurance. If you decide to start driving again, you will need to look for a new policy and resign a plan.

This also requires a DMV visit to receive a form to say you will not be driving the car. This will create a lapse in your insurance history and might may your insurance more expensive when you begin to drive again.