Saturday, December 21, 2019

A Brief Note On Unemployment And Its Effects On The United...

†¢ Unemployment Deferment – 12 months per Request (interest accrues monthly) maximum number allowed: up to 36 months/life of the loan. The Borrower has to submit evidence of receiving unemployment benefits/verify employment agency enrollment/show proof of previously granted Unemployment Deferment through another servicer. †¢ Economic Hardship Deferment – 12 months per Request (interest does not accrue) maximum number of months allowed: up to 36 months/life of the loan. The Borrower has to submit evidence of receiving state/federal assistance (SNAP, SSI, Medicaid/Medicare, TANF), working full time and under 150% of the Poverty Line, monthly Federal loan payments cause â€Å"Hardship†, proof of Economic Hardship with another servicer, volunteer in the Peace Corps. †¢ Mandatory Forbearance – 6 months per Request (interest accrues monthly) maximum number of months allowed: up to 36 month/life of the loan. The Borrower has to submit proof of taxable income/total monthly income/total amount of monthly payments on each Title IV loans through statements, tax returns, check stubs, etc. Forbearance can be back-dated if the account is past due, but cannot be applied if the account has $0.00 in principal due. †¢ General Forbearance – 6 months per Request (interest accrues monthly) maximum number of months allowed: up to 36 months/life of the loan. The Borrower has to submit a reason for the forbearance request, example; financial difficulties/change in employment/medical expenses/otherShow MoreRelatedFinancial Impact Of Microeconomics1276 Words   |  6 PagesDecember to decide whether there will be an increase in the rate.   Investors and currency speculators have a strong belief that this is when the rates will increase.   Other factors in the current economy include the strong job reports and the low unemployment rate.   Current chairperson of the Fed, Janet Yellen, mentioned that the inflation rate has been under the 2% target, which places some unease for current investors.   This low inflation rate also signals a higher chance of raising the interest ratesRead MoreKeynes Vs Hayek Essay804 Words   |  4 PagesKeynes Versus Hayek The relationship between economists John M. Keynes and Friedrich A. Hayek is quite complex. 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