Share to Twitter Share to Linkedin The Department of Education (ED) has officially said that this year’s Free Application for Federal Student aid (FAFSA) will not open until December , two months later than usual. The delay comes as the result of a huge overhaul of the federal form that students use to apply for financial aid to help pay for college. An exact date in December has not been announced yet. FAFSA has opened for applications on October 1 the year before students expect to enroll in college since 2016. Previously the form was available on January 1 every year. The FAFSA is the federal form you must complete using income and tax information to be considered for any financial aid from the federal government, your state, or one of the colleges you hope to attend. and is used by states and colleges to determine what support they might be eligible for. The move to an earlier FAFSA was possible because of changes that allowed students and families to … [Read more...] about Updated FAFSA Launch Officially Delayed Two Months To December
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Make Your Own Bank Run On These Blue-Chip Yields
Share to Twitter Share to Linkedin Is it time for us contrarians to “buy the dip” in bank stocks? We’re drowning in big bank-scare headlines. Silicon Valley Bank (SIVB VB ) knuckled under in days, Signature Bank (SBNY) wasn’t too far behind, and across the pond, Credit Suisse (CS) needed a buyout bailout from rival UBS (UBS) . The next bank run, however, won’t be with the big boys . Too big to fail, baby . Here, we’ll find not only government help but also secure yields of up to 5.1%—trading at a discount, no less. Why the big guys? Well let me show you. Last week, my software firm received this email from one of our vendors: “Brett, Just wanted to give you our new banking details. We’re out of SVB; we’re moving to JPM.” JPM for the win. And they’re not the only big bank benefiting. CNN recently reported that Bank of America BAC (BAC) , Wells Fargo WFC (WFC) and Citigroup C (C) “have all experienced a … [Read more...] about Make Your Own Bank Run On These Blue-Chip Yields
Obtuse: The Fed & Treasury View Of Banking Issues
Share to Twitter Share to Linkedin Despite ongoing silent runs on the Regional and Community Banks, it appears that both Fed Chair Powell and Treasury Secretary Yellen view the events of the recent past (SVB VB , Signature Bank, First Republic, Credit Suisse, and now Deutsche Bank) as one-off events and not symptomatic of stress in the world’s financial system. The dictionary defines “obtuse” as “annoyingly insensitive or slow to understand.” We can’t think of anything more precise! The chart at the top shows the continued decline in the value of S&P’s Regional Banking ETF through the close of business on Friday (March 24 th ). On Wednesday, the Fed raised interest rates 25 basis points despite liquidity issues in the banking system and the apparent loss of confidence in that system by a significant portion of the public. During his press conference, Powell acknowledged some FOMC concerns over banking issues, said that they had considered a "pause,” … [Read more...] about Obtuse: The Fed & Treasury View Of Banking Issues