| Secretary of State branch plans spark debate
LANSING, Mich. -- Secretary of State Terri Lynn Land wants to open a bigger, better office where Saginaw-area residents can renew their drivers' licenses, register to vote and take care of other tasks that aren't handled at traditional branches. But that would mean closing a smaller office in nearby Buena Vista Township and consolidating it with one about nine miles away. Angry township residents say it would be a burden for the poor and elderly to travel to the improved branch. The dispute has sparked debate about how state government can best serve its residents at a time of scarce resources and shifting customer demands. Judging by the varied reactions to the secretary of state's office consolidation plan, there aren't any easy answers _ especially with state government in the throes of a budget crunch.
New grads confronted by dizzying loan options
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down $25,000 in student loans. Wons did what any wise parent would do. .
GetSmart.com Suggests Ways to Use a Home Equity Loan
A Home equity loan can be a useful, tax deductible, way to tap equity that you have accumulated in your home. As long as you borrow wisely, this may be a good resource for some much needed cash. Charlotte, N.C. (PRWEB) August 10, 2007 -- Whether you're looking to pay for a costly education, find funding to renovate your home, or cover the costs of a large unexpected expense, you might want to consider a home equity loan. Home equity loans are great alternatives to putting major expenses on a credit card, and have a much lower interest rate. A home equity loan gives the borrower a lump sum of money at a fixed interest rate, with your home used to guarantee the loan. The borrower then pays the money back in monthly installments. So when is getting a home equity loan a good idea? GetSmart.com shares some insight: College tuition
If you need access to money to finance your child's college education, a home equity loan is something you may want to consider, particularly if your child doesn't qualify for a student loan.
Student loan options are baffling to family
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down her $25,000 in student loans. Wons did what any wise parent would do. She asked for help. Wons's daughter works as a project manager at a medical software company. She has an annual salary of more than $50,000. Her employer provides a 401(k). She has about $13,000 in cash from recently redeemed Series EE savings bonds. She has no credit card debt. She has no payments on a reliable car with low mileage. She's sharing an apartment and other living expenses with an older sister in Madison, Wis. Her portion of the rent is a little more than $500 a month. Wons is unsure about the course her daughter should take: Should the daughter consolidate her college loans during her six-month grace period? (She has federally backed Stafford and Perkins loans.) Should she use the entire $13,000 to pay down the loans or keep making monthly payments to take advantage of the interest deduction? Should she invest all of the $13,000? While paying on the loans, should she contribute to her 401(k)? Let's take the consolidation question first.
Rate rise 'will hit economy'
A PEAK BUSINESS group warned yesterday that the rise in official interest interest rates will wipe billions of dollars from economic activity over the next 12 months. The Australian Chamber of Commerce and Industry believes the 25 basis point rise in the Reserve Bank's cash rate will directly cost the Australian economy $1.8 billion in the next year. Despite the expected dampening effects on consumer demand and business investment, the ACCI said it was not opposed to the rate hike. ACCI chief executive Peter Hendy said the tightening of monetary policy was necessary to help keep inflation under 3 per cent. "While interest rate increases do have significant cost to the community, inflation can have even larger cost," he said. "Therefore, ACCI does not oppose a rate increase to address high inflation." However, South Australia's peak business group, Business SA, said it was disappointed by the rise.
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