D. E. Shaw adds a new position in Navient

Sep 18th, 2014 Posted in Education Loans | No Comments »

Enlarge Graph Navient spun off from Sallie Mae in April Navient holds the largest portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (referred to as FFELP loans). It also holds the largest portfolio of private education loans (referred to as private education loans). The company was spun off in April from Sallie Mae (SLM) and comprised of the latter’s loan management, servicing, and asset recovery business. In May 2013, Sallie Mae’s board had approved separating the company’s existing businesses into two publicly traded entities–an education loan management business and a consumer banking business–to unlock value...

Lingering Student Loans May Be Forcing More Seniors Into Poverty

Sep 18th, 2014 Posted in Education Loans | No Comments »

More than 20 percent of the 155,000 Social Security recipients whose checks are docked to pay back student loan debt are seniors, according to a new report from the Government Accountability Office (GAO).

In 2013, about 36,000 seniors lost part of their Social Security allotment due to outstanding student debt. That is a six-fold jump from 2002, when just 6,000 people in that group had their checks garnished over education loans, the report says. The GAO finding confirms similar data reported by the Treasury Department in August.

From 2004 to 2010, the proportion of American households headed by a senior with outstanding student loan debt also jumped dramatically according to the GAO,...

Must-know: Omega Advisors adds a new position in Navient

Sep 17th, 2014 Posted in Education Loans | Comments Off

Enlarge Graph

Navient spun off from Sallie Mae in April

Navient holds the largest portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (referred to as FFELP loans). It also holds the largest portfolio of private education loans (referred to as private education loans).

The company was spun off in April from Sallie Mae (SLM) and comprised of the latter’s loan management, servicing, and asset recovery business. In May 2013, Sallie Mae’s board had approved separating the company’s existing businesses into two publicly traded entities–an education loan management business and a consumer banking business–to...

European Headquartered Bank White Labels Cashfac’s Corporate Cash …

Sep 17th, 2014 Posted in Cash Management | Comments Off

Bank will offer Cashfac powered services including Receipts and Payments management and Client Money segregation.

Cashfac Technologies, a global leader in Cash Management solutions, today announced that it has signed a new leading European headquartered banking partner. The new partner bank will white label Cashfacs technology to provide end-to-end cash management solutions across its corporate client base, that includes insolvency practitioners, property managers, fund managers and investment companies.

Cashfacs solutions provide a real time, granular approach for Corporates to better control cash across their enterprise. They fully automate the management and control of payments,...

Seniors Forced Into Poverty As Education Department Demands Payment

Sep 17th, 2014 Posted in Education Loans | Comments Off

More than half, or 54 percent, of federal student loans held by borrowers at least 75 years old are in default, according to the federal watchdog. About 27 percent of loans held by borrowers aged 65 to 74 are in default. Among borrowers aged 50 to 64, 19 percent of their loans are in default. The Education Department generally defines a default as being at least 360 days past due.

As unpaid student debt approaches $1.3 trillion, the federal watchdogs findings underscore the consequences of increased student debt burdens and the risk theyll wreak havoc on households in the coming years if US workers continue to see little increase in their paychecks, the economy barely grows, and the Education...

Avanse forays into student loans

Sep 16th, 2014 Posted in Education Loans | Comments Off

Avanse Education Loans (Avanse) announced its foray into lending for educational institutions, such as universities, colleges, schools, pre-schools and coaching classes, among others, for expansion. This is in addition to providing education loans to students, the company said in a statement. Neeraj Saxena, CEO, Avanse Education, said, Lending under this category (institutional lending) could be for adding infrastructure, such as buildings, libraries and laboratories, amongst others. The ticket size of such loans would be in the range of #8377;50 lakh to #8377;5 crore. Besides providing education loans for post graduate (India and overseas) and undergraduate courses, the company also...

Credit compare sites not equal

Sep 16th, 2014 Posted in Credit Card Comparison | Comments Off

The banksters are at it again. The Wall Street Journal says there’s dirty dealings going on, with many popular credit card comparison sites lying to you when you go to pick the best credit card.

Following the CARD Act of 2009, comparison shopping for credit cards became so easy; the whole thing was made to order for the Internet. So people set up slews of credit card comparison shopping sites.

But The Wall Street Journal reports the banks that control the bulk of our nation’s credit card portfolio have intimidated the credit card shopping sites with threats of lawsuits if they publish a bad review and by dangling advertising dollars in front of them for top billing...

4 local entities invest in Mandel-backed cash management program

Sep 15th, 2014 Posted in Cash Management | Comments Off

CIRCLEVILLE — State Treasurer of Ohio Josh Mandel has been endorsing the STAR Plus program since its inception in 2012. Currently in Pickaway County, there are four local governments that have chosen to invest in the program.

STAR Plus is a cash management program that provides Ohio political subdivisions such as schools, cities, counties, townships, libraries and other public entities, with access to hundreds of FDIC insured banks via one convenient account. Mandel said public funds deposited in the program will be fully secured with no credit or market risk while earning a competitive yield.

Attleboro goes from ‘most boring’ to one of the best: Credit Donkey says …

Sep 15th, 2014 Posted in Credit Card Comparison | Comments Off

Attleboro, which was recently rated the second most boring town in Massachusetts in a real estate company blog, appears to be getting more respect in other quarters.

An online study published by the credit card comparison website Credit Donkey rated Attleboro the 10th best city to live in in the Bay State. The study methodology looked at crime rates, commuting time, income, educational level and number of restaurants per capita.

Cash management is key for your franchisees

Sep 14th, 2014 Posted in Cash Management | Comments Off

Franchisees need good cash flow management to keep their business going strong.

Many franchises dont have the clout or size of bigger businesses who can benefit from scale when it comes to collecting and managing customers one-off joining fees, recurring fees, invoice payments from a set or a variable amount, payment plans and debt collection.

While gyms, childcare centres and business to business operations come to mind as the business models most likely to need solutions to this issue, even retailers who operate a lay-by system need to consider how to best process the payments says Rob Baird, sales director of Ezidebit.

Retailers like the customer...