Education • News December 2021 | Lighthouse News Daily

Student Loan Debt Piles Up at Record Pace

June 8, 2016 By Lonnie Davidson Leave a Comment

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Student loan debt is growing by $3,000 per second, being the largest form of debt in the USA outside of mortgages.

According to a Federal Reserve report, updated in May 2016, American students owe over $1.3 Trillion in Student Loan Debt. The average debt for 2017 graduates now averages $37,172, which is up to 6% over 2015 data.

Recent research conducted by the Federal Reserve also shows that over half of outstanding student loans are presently in deferral, delinquency, or default. Americans are more burdened by student loan debt than ever before.

While most studies focus on the exacerbating growth in outstanding debt, delinquency rates, and wealth inequality, few initiatives highlight the importance of financial literacy and its impact on the graduates’ development as future employees.

On the other hand, the rapidly growing problem of student debt has attracted many and diverse reactions, ranging from rallies and protests to constructive initiatives from well-regarded business people.

Most importantly, in April 2016, Rep Matt Salmon from Arizona introduced a bill into the US House of Representatives. The H.R.5016 – Financial Literacy for Financial Aid Act would require student borrowers applying for a loan to be provided with financial education. Joining forces with Rep. Salmon to develop and advocate for this bill is Sharon Lechter CPA CGMA, financial literacy expert and recognized as the #1 Financial Literacy Educator for 2015 by the National Literacy Educators Council.

Needless to say, before borrowing tens of thousands of dollars, potential students need to be educated in the long-term impact of such financial decisions. Through this online counseling tool, graduates would receive instruction in various areas of financial literacy such as the purpose and uses of taxes, the cost of borrowing, the importance of financial planning, and the understanding of their rights and responsibilities as credit consumers.

“Education is the most important tool our children have to ensure their financial wellbeing. We must educate our children on the financial responsibilities of student loans”, says Sharon Letcher, CEO at Pay Your Gamily First, noted entrepreneur, author, and business advisor. In her public service announcement, she lays stress on the fact that the vast majority of our students have little to no financial education in high school or college.

If the government allows potential students to borrow substantial sums to find and maintain employment, it is essential to help them craft financial goals. American young adults are asked to take on financial literacy as they are facing a debt crisis exceeding that of any previous generation.

Your immediate help has never been more important. You are kindly asked to call your representative today or email his or her office in support of the H.R. 5016 – Financial Literacy for Financial Aid Act. Let him or her know that the next generation needs financial education before getting into debt. For further assistance, please visit www.house.gov/representatives/find/.

Ultimately, share this with your friends and associates and ask them to do the same. Your voice can make a difference!

For more information, contact info@sharonlechter.com.

Image Source: no attribution required.

Former FBI Special Agent Mark Padilla Shares Safety Tips

March 29, 2016 By Lonnie Davidson Leave a Comment

Life Safety Tips For All Americans

My name is Mark Padilla and I was a real life FBI Special Agent:
“I have a passion for helping everyday Americans find peace of mind with my simple & secure lifestyle tips.” I look forward to being a contributing writer to this publication as we cover a variety of topics.

Tip: Financial Safety

Change out your credit cards often to “purge” bogus billings

This will save you money and headaches. Every three to four months I cancel and REPLACE my debit and or credit cards at no cost to me. Keep the card just get a new number from the issuer. If you cancel the card it may negatively affect your credit score. This protects against unauthorized charges and most importantly prevents JUNK charges from accumulating on your card. For instance, it will save you the time and effort, trying to review each and every transaction to make sure you still want to pay for it (gym membership, subscription services of any kind). Moreover, it will force you to re-activate deadly RECURRING charges that happen automatically (by ensuring you make the decision AGAIN to agree to those charges)!

Visit my Youtube video for safety tips:
This is part of me -FBI – https://youtu.be/kGSGiRzFhIE

Everyday Safety Tips:
Dating Safety: Tips to ensure your kid has a safe experience (throw up on rapist), invoke scripture…Or for adults, don’t switch to yahoo messenger or such “instantly”
IPhone safety: Photos posted on Facebook have an encryption telling a “predator/the public” the exact physical address the picture of your young kids was taken at (i.e. home).
Enforcement contact: Do you have to talk to the FBI or Police? Or any other person in authority (i.e. minors)
Assess Environment: Yellow light, be aware, in a bank terrorist attack where to find cover
Security for family: GPS tracking? IPhone tracking? Home Security? Family Emergency plan (disaster)
Train to fight: Walking down the street keep “eye contact” with people coming the opposing direction…its shows strength….don’t be a victim
Mark has a Masters in Accounting, Bachelor of Science in Finance, and was a Certified Fraud Examiner (CFE) and Certified Internal Auditor (CIA) both by exam. He was also a Federal Firearms Instructor. He currently is an Entrepreneur, CEO, Film and TV Law Enforcement Consultant and a professionally trained actor (and one of the very few former FBI Agents who has IMBD credit). He can be reached at his Facebook page: https://www.facebook.com/Mark-Padilla-649458888493016/ Or markpadilla008@gmail.com

Newly Discovered Dr. Seuss Book

February 18, 2015 By Renee Johnson Leave a Comment

Millions of children and adults love Dr. Seuss books but now old manuscripts are being discovered. Today, Random House Children’s Books stated that a newly discovered manuscript containing multiple Dr. Seuss sketches will be published. The book is titled “What Pet Should I Get” and reportedly, the publication date is set for July 28.

In addition to this book, Random House said that at minimum, two additional books will be published. Those books were based on material discovered in 2013 by the author of the Dr. Seuss books widow. Audrey Geisel along with Theodor “Ted” Seuss Geisel’s secretary. The manuscripts were uncovered in the couple’s upscale La Jolla California home.

Following Theodor death in 1991 at 87 years old, his widow decided to remodel the home. At one point, she came across a box with lots of pages of text but also sketches. The box was simply set aside and forgotten for 22 years when late in 2013, she and Claudia Prescott, Theodor’s longtime friend and secretary, cleaned out the office and rediscovered it.

As they searched through the material, the two came across all of the text and illustrations for “What Pet Should I Get”, as well as other work completed by Theodore. As imagined, when news came out that newly discovered Dr. Seuss books would be published fans across the world were thrilled.

According to Audrey, who has faithfully kept her husband’s legacy intact, said that while the finding is extraordinarily special, it is not surprising. The reason is that her husband was known for working on many projects simultaneously and would start new projects constantly. He wrote and drew all the time in order to come up with new stories for his reader base.

However, Audrey continued saying that having the “What Pet Should I Get” published this year is extremely special since it marks the 25th anniversary of Theodore’s last book publication, “Oh, the Places You’ll Go”.

President of licensing and marketing of Dr. Seuss Enterprises, Susan Brandt, said she was excited about the find in the couple’s La Jolla home. In a press release from Random House, Brandt said there was page after page of manuscripts and sketches carefully laid out on the big dining room table, citing the moment as being magical. Upon seeing everything, she knew the find extended well beyond a box full of sketches.

Cathy Goldsmith, associate publishing director with Random House said that it appears the manuscript for “What Pet Should I Get” was completed something between 1958 and 1962 since the same brother and sister featured in the 1960 classic “One Fish Two Fish Red Fish Blue Fish” are depicted.

Today, three Dr. Seuss books remain among the top 50 on the USA Today’s Best Selling Books list. The newly discovered manuscripts and sketches will stay in La Jolla at the University of California at San Diego, joining the Dr. Seuss Collection in the central library, which was fondly renamed in 1995 to Geisel Library.

Report: Gains Encouraging for Hispanic Education

January 23, 2015 By David Kellen Leave a Comment

Despite the challenges, a top group in education said national data on Hispanic students was encouraging and showed solid growth.

The report, “The Condition of Latinos in Education,” paints an accurate profile of Hispanic students, one by spotlighting achievement while countering myths and misperceptions.

The report breaks the perception that the majority of Hispanic students do not have a proficiency in English. According to data, the reality is that only 18% of young Hispanics living in the U.S. are English language learners.

Hispanics, says the report, participate in the U.S. workforce at a higher percentage rate than all other ethnic or racial group.

Amongst the findings that are encouraging: recent high school graduates who are Hispanics enrolled in college at higher rates that their African American and white peers. An overwhelming majority of Hispanic parents said they expect their children to continue with higher education following high school.

Hispanics represent a youthful, fast growing segment of the entire student population in the public school system in the U.S. In 2011, they represented 24% of the entire enrollment in public schools.

It is project they will represent 30% by 2023. With a total population exceeding 53 million, Hispanics were the second largest ethnic or racial group in 2012 in the U.S.

The report notes challenges as well. By 2050, Hispanics are predicted to comprise close to 40% of the population in the U.S. under age 5, but as with African Americans, they are more likely to live in poverty than other groups.

Some criticized the report for bringing too much attention to the successes and not discussing the need to close the gaps that remain in education. The problem continues said some with English and ELL and other issues that needed to be addressed.

The report said that the number of Hispanics earning at least an associate’s degree increased by 71% between 2004 and 2013.

Hispanics in 2012 were more apt to enroll in local community colleges than their white, Asian or African American peers.

Life Safety Tips For All Americans

Tip: Financial Safety

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