Going to college? Here’s what you should know about student loans
There are several different federal student loan options: direct subsidized loans, direct unsubsidized loans, direct PLUS loans, and direct consolidation loans. But the most common are direct subsidized and unsubsidized loans, which are taken by the person who is completing the college degree.
BY Adriana Morga; APNews (Morga covers financial literacy and personal finance.)
Education Student Loans
BY ADRIANA MORGA; APNews, Updated 12:30 PM EDT, August 15, 2023
FILE - New graduates line up before the start of a community college commencement in East Rutherford, N.J., May 17, 2018. This summer, millions of Americans with student loans will be able to apply for a new repayment plan that offers some of the most lenient terms ever. Interest won’t pile up as long as borrowers make regular payments. Millions of people will have payments of $0. And starting in 2024, undergraduate loan payments will be reduced by half. (AP Photo/Seth Wenig, File)
NEW YORK (AP) — If you’re heading to college or starting to think about where you’d like to apply, you’re probably considering options for funding your education. If you need to borrow money to pursue your dreams, you are far from alone.
According to the Federal Reserve, 30% of all U.S. adults said they incurred at least some debt for their education. Borrowers owe a collective $1.77 trillion in student loan debt, including federal and private loans.
“Borrowing is almost at the point where it’s a requirement,” said Dana Kelly, from the National Association of Student Financial Aid Administrators.
If you’re a high school senior or a college student, you’ll want to apply for federal student loans through the Free Application for Federal Student Aid, also known as FAFSA, in December for the 2024-2025 school year. For private student loans, you can apply whenever you need the loan.
When you take out student loans, it’s beneficial have to have an idea of what professional field you want to pursue, calculate how much you need to borrow, and understand the basics of loan interest. If this sound like a lot, don’t worry — we’ll break it down for you. Here’s what you need to know.
WHERE DO I START?
ADRIANA MORGA (Morga covers financial literacy and personal finance.)
And Congratulations! New Graduates
Students have worked hard to get here. It has been a long time coming, and this last year has probably been very challenging. After all the festivities are over, it is time to change focus and to anticipate, 'What's Next.' Time for the next step –Universal job skills that can boost your career. If mastered, it can improve your job prospects.
By Theo Edwards
So What Next
Time for the next step –Universal job skills that can boost your career.
Students have worked hard to get here. It has been a long time coming, and this last year has probably been very challenging. After all the festivities are over, it is time to change focus and to anticipate, 'What's Next.' Time for the next step –Universal job skills that can boost your career. If mastered, it can improve your job prospects.
Transitioning to your next step:
It is not a coincidence some people can hop jobs and industries with ease. They move from one role to a seemingly unrelated one –these lucky souls have universal job skills that have stood the test of time – (aka) transferable skills.
Great communication skills. Can you string two sentences to your colleagues with ease, and do you listen well? Can you put yourself in someone else shoes? These skills may leapfrog you to the front of a job queue. Remember communication, is not just verbal. Good writing grammar spelling is crucial to getting ahead despite what your friends might say. Almost everyone has to send work emails, and as you progress up the promotion chain, you will probably need to write reports.
Flexibility, adaptability, and innovation: Change is a given in organizations, and those people who can be flexible, adapt to change, and innovate are sought after. The employer is more impressed with the person who embraces the new system and sees the potential improvements it brings - rather than the employee who grudgingly accepts that s/he will have to change. Being open to new ideas is an invaluable skill.
Great interpersonal skills. The personable person gets ahead at work. Working well with others is a prerequisite for almost every job – even if you only see your colleagues at weekly team or Zoom meetings. What’s more, if you can build internal or external relationships, organize colleagues to collaborate, you will rack up both brownie points and achievements. Some of the skills you need to succeed in interpersonal relationships are listening, fairness and empathy. Being resilient and able to bounce back is also essential.
Technical skills and initiative universally regarded -Computer skills. Good computer skills get you noticed even if your job doesn’t directly rely on them. You might help your boss solve a confusing and difficult problem or question with an Excel spreadsheet or even more demonstrate the use of the company database more efficiently to colleagues.
Knowing how to find information is a beneficial skill in most industries. The ability to research a subject or issue and give options, tell the boss what the company has done in the past in similar circumstances, or find out how other organizations tackle it.
Finally, relax easy and kudos on your achievement as a COLLEGE GRAD.
Sierra Leone: Freetown City Council
The new City Hall Complex consists of conference rooms, a 460 seater multifunctional activities conference hall with the latest technology, an underground power station of two 800KVA Generators, and a car park for over 100 vehicles.
Transform Freetown
Sierra Leone: Freetown City Council on 6th November 2020 hosted the Opening Ceremony for the new City Hall Complex and Hon. Tamba Lamina, Minister of Local Government and Rural Development, delivered the keynote address.
Present at the Opening Ceremony was the Ambassador of South Korea to the Federal Republic of Nigeria and Sierra Leone, Major General Lee In-Tae and his delegation; the Deputy Minister of Finance, Hon Patricia Laverly, and the Deputy Minister of Foreign Affairs, Hon Solomon Jamiru; Esq. Also present were Dr. Kaifala Marah, former Minister of Finance, Mrs. Ebun Strasser-King, former Deputy Minister of Foreign Affairs, members of the diplomatic community, Councillors and staff of Freetown City Council.
The 15 stories New City Hall is the administrative complex for Freetown City Council, whose primary purpose will be to serve as the Office of the Mayor and the Council’s Administration - a modern building in the heart of the City’s Central Business District. When all the contractual obligations finalized, the building expected officially hand over to the Freetown City Council administration.
The facilities include:
A rooftop garden, sky-lounge restaurant, kitchen, and ten hotel rooms
Three floors of ultra-modern office space, of approximately 1000 square meters each
A library, computer laboratory, and open exhibition area
Multi-story car park
An auditorium for 460 people with cinema seating, fully-fitted stage, and audio-visual equipment
The New City Hall will provide much-needed space for Freetown City Council to provide services and engage with residents as the Council implements its Transform Freetown Agenda. The council plan to lease out parts of the complex.
The official handing over of the building to the Council Administration is at the end of November, and moving in before December, 31st 2020.
The New City Council: The new City Hall Complex consists of conference rooms, a 460 seater multifunctional activities conference hall with the latest technology, an underground power station of two 800KVA Generators, and a car park for over 100 vehicles.
6 Skills Needed for All Jobs Regardless of Field
This post is from NBC Parent Toolkit.
You have likely heard about “soft skills” before. But what are they? Sometimes referred to as “21st-century skills,” “interpersonal skills,” or “applied skills,” they are the skills that are non-technical or specific to a certain job. They are the skills that help you think, communicate with people, and reflect on your experiences. Basically, your young adult needs them to thrive in the workforce. Career coach Jane Horowitz says the basis of her coaching practice is “hire for attitude, train for skills,” and she sees will and drive as being the greatest determinants of young adults getting hired.
And your young adult needs each one of them to thrive in the workforce
This post is from NBC Parent Toolkit.
You have likely heard about “soft skills” before. But what are they? Sometimes referred to as “21st-century skills,” “interpersonal skills,” or “applied skills,” they are the skills that are non-technical or specific to a certain job. They are the skills that help you think, communicate with people, and reflect on your experiences. Basically, your young adult needs them to thrive in the workforce. Career coach Jane Horowitz says the basis of her coaching practice is “hire for attitude, train for skills,” and she sees will and drive as being the greatest determinants of young adults getting hired.
“We hear it time and time again, it’s the soft skills,” says Terri Tchorzynski, 2017 National School Counselor of the Year. “That’s what allows you to keep the job. Employers can hire our students and train them, but if they don't have the soft skills, it's really hard for them to stay employed."
According to the Harvard University “Pathways to Prosperity Project” study in 2011, U.S. employers are increasingly seeing students graduate from college unequipped to survive in the 21st century workforce. Specifically, they are “deficient” in skills such as critical thinking, problem solving, creativity, and communication. Bruce Tulgan, founder and CEO of Rainmaker Thinking and expert and author on young people in the workplace, has been tracking the generational change in the workplace since 1993. According to Tulgan (and many other experts and employers), there is a gap in soft skills from previous generations to the generation entering the workforce today.
Power and Industrialization Drive
President Akufo-Addo’s administration has set an ambitious district industrialization agenda, known as the One district One factory policy, which his government intends to achieve to move Ghana from one that exports raw materials to a value-added industrialized economy.
One district One factory policy
Akufo-Addo - President, The Republic of Ghana
The Nana Akufo-Addo’s government has given assurance to industry and manufacturers its determination in stabilizing electricity supply as the government continues to implement proactive measures to solve the current crisis.
President Akufo-Addo’s administration has set an ambitious district industrialization agenda, known as the One district One factory policy, which his government intends to achieve to move Ghana from one that exports raw materials to a value-added industrialized economy.
Key areas need critical attention if the government could meet this target bringing factories to all 216 districts across the country’s 16 administrative regions is a cheaper and reliable energy source.
The government has already released GH¢465 million for the commencement of the project. It has also released GH¢256 million for the revamping of 100 private commercially viable and distressed companies throughout the country. Finance Minister, Ken Ofori-Atta during the 2019 Budget Presentation in Parliament stated government has so far disbursed GH¢227 million as a stimulus package to support various distressed companies, and that additional funds will be disbursed to support other distressed companies next year. 79 factories in 9 regions of the country should be at various stages of construction or operation under the '1D1F' scheme is expected.
Industrialization agenda
Ghana has not had it easy when it comes to the cost industry pay for a power outage. The Institute of Statistical, Social and Economic Research (ISSER) which conducted a study on the impact of the four-year power crisis that hit Ghana revealed that 885 small and medium-sized manufacturing firms in Accra, Tema, Kumasi, and Sekondi-Takoradi lost GH¢250 million within the period. The productivity of these firms fell as many were using generators as an alternative source of power.
Additionally, the power outages, to a large extent, led to a 10 percent fall in monthly productivity of those firms, with as many as 55 of such businesses folding up in the four locations of the country.
Ghana’s economy, like any other economy in the world, depends on local production and export goods and services, thus industrialization. For many industries in the West African country, energy supply is a major challenge. Players in the sector have been complaining about the intermittent power outage they sometimes experience. A situation that in the past cost many job layoffs.
The Nana Akufo Addo’s government has given assurance to industry and manufacturers its determination in stabilizing electricity supply as the government continues to implement proactive measures to solve the current situation.
The Association of Ghana Industries (AGI) in a communiqué after its National Council Retreat this year said they are resolved to continue making input into the electricity tariff negotiations with the country’s utility regulator, Public Utility Regulatory Commission, and appropriate agencies to ensure competitive tariffs for Industry.
The industry is expecting reliability and efficiency in service delivery and competitive tariffs from the new company—Power Distribution Service (PDS) taken operations in the distribution network in southern Ghana. AGI recognizes the need for a tariff structured in a manner the service providers can recover cost to remain viable.
Ghana is in the category of countries with high energy cost in the sub-region and for the industry to remain competitive industry sector players have called on the government to review the electricity tariff.
It is therefore right to say that a high cost of energy leads to a high cost of production; and will subsequently make Ghana unattractive for the setting up of factories thus generating a consistent increase in imports. This explains why locally-produced goods more expensive than the same imported goods in spite of the high duty charges at our various ports of entry.
UNIDO to boost industrial development
The government, in terms of urgency, must explore other cost-effective forms of energy like solar, bio-energy, nuclear, and wind energy to enhance Ghana’s business destination for West Africa.
Ghana’s total installed generator capacity at the end of 2016 was 3,795 MW with proportions as follows; 57.8 percent thermal, 41.6 percent hydro and 0.6 percent renewable.
Most thermal facilities run on natural gas (a cheaper fuel source compared to liquid fuels) as the primary fuel source, with the exception CENIT Power Plant and the Karpowership power plant, which depend solely on liquid fuels (LCO/DFO and HFO respectively). Makes natural gas supply very crucial for the effective operation of Ghana’s electricity sector. The West African Gas Pipeline transporting natural gas from Nigeria, is the major supplier of natural gas for generating electricity until the commissioning of the Atuabo gas processing facility, owner of the Ghana Gas Company in 2015. Gas supply has not been reliable with the Nigerians citing non-payment of debt as the major reason.
The Atuabo gas processing facility is capable of supplying up to 150 Mscf per day to the western power generation enclave at the Aboadze thermal facility with supplies from the Jubilee oil fields. Plans are underway to process natural gas from the Tweneboa, Enyenra, Ntomme (TEN) oil fields to augment supplies from the Jubilee fields and make Ghana self-sufficient. However, the Tema thermal power enclave still depends on natural gas supply through the WAGP.
The Atuabo gas processing facility is capable of supplying up to 150 Mscf/d (abbreviation for a thousand standard cubic feet per day, a common measure for volume of gas) to the western power generation enclave at the Aboadze thermal facility with supplies from the Jubilee oil fields. Plans are underway to process natural gas from the Tweneboa, Enyenra, Ntomme (TEN) oil fields to augment supplies from the Jubilee fields and make Ghana self-sufficient. However, the Tema thermal power enclave still depends on natural gas supply through the WAGP.
Huge investment to increase the power-generation capacity of the country. More power plants have also been constructed to increase the supply of power in the country. These include Takoradi Thermal Power Plant, Takoradi T3 Plant, Tema T1 Power Plant, Mines Reserve Plant, Tema T2 Plant, and the Kpone Thermal Plant. Notwithstanding the efforts made by successive governments to expand power generation capacity, the country is still far from becoming power sufficient.
The government of Ghana is still pursuing policies to improve the shortcomings in the power sector.
The Millennium Challenge Corporation (MCA) plans to invest a maximum of US$498 million in total to help transform the power sector of Ghana and also stimulate private investment over the next five years. The objective is to create a power sector, which is financially viable, and be able to meet the current needs as well as the future needs for both businesses and households.
Banking, Real Estate & Technology, Headquartered in Rwanda
Mara’s technology ventures capitalizes on the rapidly growing smartphone and internet markets creating a suite of platforms that are tailored locally.
Why Africa? “The Lion Awakes: Adventures in Africa’s Economic Miracle” by Ashish J. Thakkar is the true story of today’s Africa, one often overshadowed by the dire headlines. Traveling from his ancestral home in Uganda, East Africa, to the booming economy and (if chaotic) new democracies of West Africa, and down to the “Silicon Savannahs” of Kenya and Rwanda, Ashish J. Thakkar shows us an Africa that few Westerners are aware exists.
Mara Group & Mara Foundation
Africa Reach – An African company with investments and operations in 25 countries across the continent
Established in 1996, Mara has grown from a small computer hardware trading firm in East Africa to a multi-sector group with investments and operations spanning 25 African countries and 3 continents.
Why Africa? “The Lion Awakes: Adventures in Africa’s Economic Miracle” by Ashish J. Thakkar is the true story of today’s Africa, one often overshadowed by the dire headlines. Traveling from his ancestral home in Uganda, East Africa, to the booming economy and (if chaotic) new democracies of West Africa, and down to the “Silicon Savannahs” of Kenya and Rwanda, Ashish J. Thakkar shows us an Africa that few Westerners are aware exists.
Mara’s technology ventures capitalize on the rapidly growing smartphone and internet markets creating a suite of platforms that are tailored locally.
“The rise of the African Middle Class is expected to fuel consumption growth. This will provide a considerable opportunity to invest and meet the burgeoning demand. McKinsey projects that, by the year 2030, the top 18 cities in sub-Saharan Africa will have a combined spending power of $1.3 trillion. Africa’s retail banking sector is projected to grow 40 percent by 2020” ~The Realities of Africa. Learn More.
SPOTLIGHT: Africa From Inside Ghana
Ghana's wealth of resources, democratic political system, and a dynamic economy, makes it one of Africa's leading lights.
Gaining the world's confidence with a peaceful political transition and a grounded and firm commitment to democracy has helped in expediting Ghana's growth in foreign direct investment (FDI).
Ghana has attracted the attention of well-known international businesses, investing in all sectors of the economy. All these investors have come to Ghana because of the country conducive social, political and economic environment in which they can invest, grow and be successful.