News 

Taylor Swift Fans Are Begging Her to Pay Their Student Loans

“Well it’s worth a try @taylorswift13 can you pay back my student loans????” inquired @PinkGlittr. “@taylorswift13 are you feeling generous and can you help me pay off my student loan debt?” asked @flynnxrapunzel” writes Staff Writer for elle.com. In 2012, the average debt upon graduation for black students was $29,344, compared to the national average of $25,640.People magazine pulled together a slideshow of 14 rich and powerful people who’ve offered to help pay off student debt, including 21 Savage, Drake, Chrissy Teigen, and Nicki Minaj.The average debt upon graduation is…

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Here’s why you should make paying off your student loans a priority over saving for retirement

“This is why I recommend that people focus intensely on paying off their student loans before aggressively saving for retirement” writes Michelle Singletary Writes for washingtonpost.com. Rather than invest, they use the money that would have been put toward aggressively paying off their student loans to plan a $10,000 wedding.Q: “I’ve been trying to get the debt monkey off my back and am aggressively paying off my debt.I’m 34 and my only debt is student loans.How did you get out from under your student loans?.  Source: washingtonpost.com

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Collections agency ignores proof that debt was paid. What happens next?

“Knowing this was a mistake, the Junices contacted the original collections agency and got written proof that the debt was satisfied” writes Karin Price Mueller for nj.com. A month later, in July, they received a collections notice from a collections agency, Amerifinancial Solutions, requesting a payment of $782.80.What you can do If you receive a bill from a collections agency, know your rights.A few months later, in April, Holly received another collections notice, this one saying the debt was placed with Commonwealth Financial Systems by Pendrick Capital Partners – another…

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News Stocks 

SemGroup’s stock rockets after buyout deal with Energy Transfer valued at $5.1 billion, including debt

“The total consideration of the cash-and-stock deal, including debt is valued at $5.1 billion” writes Reporter Editor for marketwatch.com. Year to date, SemGroup shares had dropped 25.4% through Friday and ET’s stock has gained 6.1%, while the Dow Jones Industrial Average DJIA, +0.14% has advanced 16.7%.Under terms of the deal, SemGroup shareholders will receive $6.80 in cash and 0.7275 Energy Transfer shares for each SemGroup share they own, which based on Friday’s closing prices values SemGroup shares at $17 each, or a 65% premium.SEMG, +4.68% rocketed 63% toward a 7-month…

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Markets News 

‘The bond market is screaming at us’: A Wall Street expert says investors are focused on the wrong recession signal — and warns a meltdown may come sooner than expected

“And it just contracted for the first time in 10 years, echoing the nerves we’re seeing in the bond market” writes Christopher Competiello for businessinsider.com. “The bond market is screaming at us,” Pal said during a recent appearance on The Meb Faber show, an investing podcast.But according to Raoul Pal— former hedge fund manager and founder of Real Vision— that’s exactly what’s happening in the bond market.Yields have fallen off a cliff since the beginning of the year as investors scared of a slowdown have poured into bonds.And yet equities…

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Nearly half of millennials said the biggest mistake they made with student loans is thinking their starting salaries would cover their monthly payments, a new study shows

“And what it’s done instead is minted the paying off of student-loan debt as the new millennial milestone” writes Hillary Hoffower for businessinsider.com. It’s no wonder that more than half of indebted millennials think college wasn’t worth it, according to an Insider and Morning Consult Survey.Read more: 10 mind-blowing facts that show just how dire the student-loan crisis in America is Meanwhile, the average student-loan debt per 2018 graduate is $29,800— that’s not even $6,000 more than the average millennial salary. Source: businessinsider.com

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Australia’s financial dispute resolution body receives 60,687 complaints in first 10 months of operations

“The Australian Financial Complaints Authority (AFCA), the single external financial dispute resolution scheme in Australia, has posted some metrics regarding its activities during its first 10 months of operations” reports financefeeds.com. AFCA noted that it has made numerous attempts to contact the financial firms to recover the amounts owing.The main product issues for investment complaints are as follows: Earlier in September, published a list of 29 financial firms that have failed to pay complaint-related charges, thus violating AFCA membership requirements. Source: financefeeds.com

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Kids would be cut off from prom, trips if lunch debt gets too high

“The revised plan also calls for students with debt to be excluded from some extracurricular activities, such as prom or non-educational school trips” writes Bill Duhart for nj.com. The district had $14,343 in unpaid meal debt in the last school year from more than 300 students who had a debt of more than $10.It also does not include a cut off of meals even if the debt remains unpaid.The $3 million food program turned a $200,000 profit in the last school year despite the lunch debts. Source: nj.com

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Markets News 

WeWork’s attempt to tap junk-bond investors may not work this time: ‘Their borrowing model is seriously in question at this point’

“It has gone to high-yield bond investors before, but that was back in 2018, when junk bonds were the hot unicorn trend” writes Callum Burroughs for businessinsider.com. McClain said in the case of WeWork, he had never seen a unicorn with such a high valuation seemingly have so little support from both equity and debt investors.As of Tuesday morning in New York, the price of WeWork debt tumbled as jittery investors sold the bonds.WeWork’s days of running among different groups of investors to fund itself may well have caught a…

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News Regulators 

Trump urges zero or negative interest rates to tackle U.S. debt

“WASHINGTON (Reuters) – U.S. President Donald Trump on Wednesday said the Federal Reserve should lower U.S. interest rates to “zero or less” to help “refinance our debt” with lower interest costs and a longer term, and blamed the central bank’s chief for missing a “once in a lifetime opportunity.”” writes Midwest Communications Inc for 95kqds.com. The Republican president has repeatedly called for lower interest rates and blasted Powell and the Fed for not quickly and drastically cutting them, which he sees as necessary to boost U.S. economic growth as he…

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