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UI Extension: How to Get 11 More Weeks of Jobless Benefits

Note: This article has been updated with new information from the Continued Assistance Act (the second stimulus package).

Most states offer Unemployment Insurance for 26 weeks. If your benefits are about to expire, and you’re still out of work, a low-grade panic may be setting in.

Here are two important things you need to know: One, unemployment extensions are available. But, two, they’re not automatic.

In March, the $2.2 trillion CARES Act authorized federal aid to supplement state-level Unemployment Insurance programs, a provision dubbed Pandemic Emergency Unemployment Compensation or PEUC. The second stimulus package passed in December revived PEUC, extending UI benefits for 11 more weeks.

Michele Evermore, senior researcher and policy analyst at the National Employment Law Project, told The Penny Hoarder that the PEUC extension will become “incredibly crucial” as state benefits expire.

Data from the Department of Labor proves that. More than 4 million Americans have exhausted their state UI benefits and are relying on the federal extension.

How Unemployment Insurance Extensions Work

As an Unemployment Insurance recipient, you are likely eligible for PEUC, the new extension program from the federal government.

The catch: You can only apply for this extension once you have run out of your state’s unemployment benefits. You can’t pre-register. The Department of Labor directed states to alert you by email or letter if you are potentially eligible for the extension, but made it clear to states to not automatically enroll people.

By design, this may cause an interruption in weekly payments.

Another source of uncertainty is the number of weeks PEUC will extend your unemployment benefits in total. The first stimulus package authorized 13 additional weeks of benefits. The second package authorized 11 more. But it’s more complicated than adding those two figures together and getting 24 extra weeks.

The unemployment provisions laid out in the first stimulus package expired in December 2020. So the 13 extra weeks provided by the CARES Act are no longer available to new applicants.

But even if you didn’t get that first extension, you could still get the 11 additional weeks approved in the second stimulus bill.

Pro Tip

The PEUC application is based on your state-level unemployment claims. While you must opt in to receive the additional weeks of benefits, you won’t have to completely reapply.

Under PEUC, your weekly benefits will be the same as your state benefits, the check will just be coming from the federal government.

But Wait. There’s More.

If you are unable to find work after exhausting your state’s program and all additional weeks of PEUC, you may be eligible for a separate extension from your state.

In times of high unemployment rates, 49 states (all except South Dakota) have an Extended Benefits or EB system that adds up to 20 weeks of benefits, according to data compiled by the Center on Budget and Policy Priorities. Provided that local unemployment rates are still high when you exhaust PEUC, you may qualify for more benefits.

“There’s an order of operations here,” Evermore said.

Based on guidance from the Labor department, the order of unemployment programs for typical jobless workers goes like this:

  1. State UI programs (which vary from 12 to 30 weeks)
  2. Federal Emergency Unemployment Compensation (as many as 24 weeks)
  3. State Extended Benefits or EB (six to 20 weeks)
  4. The final failsafe if all other programs are exhausted: Pandemic Unemployment Assistance.

Here’s our 50-state guide to filing for Pandemic Unemployment Assistance. (We include an interactive map with specific state-by-state instructions.)

Pandemic Unemployment Assistance is a federal program that’s available for a maximum of 50 weeks, including the weeks of all previous programs you may have been on.

For example, Florida has the shortest duration of unemployment benefits, at 12 weeks. The state’s Extended Benefits program is also one of the shortest, at six weeks. The order of operations for all possible extensions in Florida would look like this: 12 weeks of UI, 24 (max) weeks of PEUC, six weeks of EB. The total so far is 42 weeks, meaning Florida residents can potentially use Pandemic Unemployment Assistance for 8 weeks to reach the maximum of 50 weeks of aid.

New York residents who exhaust their state’s program, in contrast, would not be eligible for PUA because the total length of their state benefits plus all available extensions exceeds 50 weeks. By quite a bit, too. Including all sources of assistance, New Yorkers are eligible for up to 70 weeks of unemployment benefits.

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“Taken together, the expanded benefits have had a massive effect on the economy,” Evermore said. “Initial unemployment claims are still coming in at unprecedented levels — but this could have been a lot worse without all these federal benefits.”

For jobless applicants, though, taking all this in can be overwhelming. But benefits are there if you can trudge through the paperwork and arcane websites.

“Understanding the difference with all these programs and acronyms is going to be confusing,” Evermore said. “Just follow the instructions from your state agency. The agency is required to give you information on how to apply [for extensions].”

Whatever you do, don’t lose your password to your online unemployment profile.

“The password reset process, in many states, is really difficult,” Evermore said. “You have to call and talk to a password reset person, and then that person will mail you — in the mail — a new password.”

Adam Hardy is a staff writer at The Penny Hoarder. He covers the gig economy, entrepreneurship and unique ways to make money. Read his ​latest articles here, or say hi on Twitter @hardyjournalism.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Cash Back, Credit Cards

What Is Cash Back?

What Is Cash Back?

Cash back is a rewards benefit that many credit cards offer to cardholders. By taking advantage of it, you’ll receive back a prespecified percentage of certain purchases you make. Many credit card companies will provide higher cash back rates on certain types of purchases, such as airfare, gas, food and more. Cash back is just one way that credit cards offer rewards, as mileage and points are some alternatives.

Before you spend too much money with your credit cards, make sure you have a financial plan in place. Speak with a financial advisor today.

What Is Cash Back?

The most commonly recognized style of cash back is what you have likely seen advertised as cash back credit cards. This specifically refers to earning a certain percentage of your credit card purchases back as cash rewards. However, cash back rates vary widely, as do the categories that they apply to.

You usually won’t see credit card cash back rates higher than 5%, while 1% is the typically minimum you will earn. Cash back categorization is significantly more complex though, with a merchant category code (MCC) system being the main organizing force.

MCCs run the entire cash back industry, as they ultimately decide how each purchase you make is classified. These designations coincide with cash back rates set by the issuer of your card. For example, you could use your card for a $50 dinner at a steakhouse, which has a “restaurant” code. If your card offers a 2% cash back rate on all spending at restaurants, you’d earn $1 cash back.

Familiar alternatives to cash back include point- and mile-based programs, though many cardholders are partial to cash back. Cash back affords cardholders an independence that is ideal, since you can redeem it for nearly anything.

Popular Cash Back Credit Cards

What Is Cash Back?

Discover, American Express, Mastercard and Visa all have cash back rewards credit cards available for prospective cardholders. Each abide by their own set of regulations, though card issuers decide on cash back rates, promotions and bonuses. Chase, Wells Fargo, Citi and Capital One represent some of the most active card issuers on the market today.

Below are a few examples of what you can expect to earn when looking for a cash back credit card:

Cash Back Credit Cards Card Name Cash Back Rates Cash Back Bonus Costco Anywhere Visa Card by Citi 4% cash back on eligible gas up to $7,000 per year, 3% cash back on eligible travel and restaurants, 2% cash back in-store and online with Costco and 1% cash back elsewhere None Bank of America® Cash Rewards credit card 3% cash back in a category of your choosing, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases (up to a quarterly cap of $2,500 in combined grocery/wholesale club/choice category purchases) $200 bonus cash back for spending at least $1,000 over your first 90 days Capital One® Quicksilver® Cash Rewards Credit Card Unlimited 1.5% cash back everywhere $150 cash back bonus when you spend $500 during your first three months Citi Double Cash Card 1% cash back on your purchases and another 1% cash back when you pay your bill None Capital One® Savor® Cash Rewards Credit Card Unlimited 4% cash back on dining and entertainment, 2% cash back on groceries and 1% cash back elsewhere $300 cash back bonus for $3,000 spent over your first three months TD Cash Visa® Credit Card 3% cash back on dining, 2% cash back at supermarkets and 1% cash back on everything else Earn $150 cash back when spending $500 within the first 90 days (See Terms) USAA Preferred Cash Rewards Visa Signature Unlimited 1.5% cash back on everything None Blue Cash Everyday Card from American Express 3% cash back on up to $6,000/year at U.S. supermarkets (then 1%), 2% cash back at U.S. gas stations and select U.S. department stores and 1% cash back on other purchases $150 bonus cash back for spending $1,000 over your first six months Getting Cash Back at Retailers

What Is Cash Back?

Picture this: you’re buying some groceries on a Sunday morning, but know you’ll need $40 cash to fill up your car with some gas later. You could swipe your debit card at the supermarket and then head over to the ATM. Or you could ask for cash back right from the cashier, eliminating the extra errand.

The above situation represents the alternative definition of cash back. It’s ultimately the use of a cash register as if you were swiping your debit card at the ATM. When you request cash back from a cashier, your bank account will be charged the amount you asked for. This enables the funds to be pulled from your account so the cash can be placed in your hand.

Although this generally only applies to debit cards, there are a few exceptions for credit cards. Discover® allows cardholders to ask for cash back at more than 50 large retail stores without a transaction fee.

Bottom Line

There are many benefits to utilizing credit card rewards programs. But spending money that technically isn’t yours will always involve some level of risk. If you’re in good financial shape, though, cash back and other types of credit card rewards can help you take more vacations, save money on purchases and more.

Credit Card Tips

  • Managing your credit cards and any debt you accumulate using them is a major part of your long-term financial outlook. Consider working with a financial advisor to make sure you’re managing your money with your goals for the future in mind. SmartAsset’s free matching tool can connect you with up to three advisors in your area. Get started now.
  • If you’re someone who wants freedom when spending credit card rewards, you may prefer cash back to a points- or mileage-based reward system. However, keep in mind that cash back rates are sometimes less than those in point-centric programs.

Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.

Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). SmartAsset.com does not include all card companies or all card offers available in the marketplace.

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Auto, Student Loans

4 Practical Ways to Leave College Debt-Free

A college student looks down at her notebook and smiles because she'll leave college debt-free.

The following is a guest post by Lisa Bigelow, a content writer for Bold.

When it comes to paying for college, the anxiety about how to leave college debt-free starts early. And for thousands of grads who are buckling under the weight of monthly student loan payments that can cost as much as a mortgage, that worry can last for as long as 25 years.

According to EducationData.org and The College Board, the cost of a private school undergraduate education can exceed $200,000 over four years. Think you can avoid a $100k+ price tag by staying in-state? Think again—many public flagships can cost over $100,000 for residents seeking an undergraduate degree, including room and board. And with financial aid calculators returning eye-poppingly low awards, you’d better not get a second topping on your pizza.

In fact, you’d better hope that you can graduate on time.

The good news is that you can maintain financial health and get a great education at the same time. You won’t have to enroll as a full-time student and work 40 hours a week, either—each of the methods suggested are attainable for anyone who makes it a priority to leave college debt-free.

Here are four practical ways you can leave college debt-free (and still get that second pizza topping).

1. Cut the upfront sticker price

Don’t visit schools until you are certain you can afford them. Instead, prioritize the cost of attendance and how much you can afford to pay. Staying in-state is one easy way to do this. But if you have wanderlust and want to explore colleges outside state lines, an often-overlooked method of cutting the upfront cost is the regional tuition discount. Many US states participate in some form of tuition reciprocity or exchange programs. You can explore the full list of options at the National Association for Student Financial Aid Administrators website.

Let’s explore how this works. As a resident of a New England state, for example, you can study at another New England state’s public university at a greatly reduced cost if your home state’s public schools don’t offer the degree you want. So, for example, if you live in Maine but want to go to film school, you can attend the University of Rhode Island and major in film using the regional tuition discount.

Some universities offer different types of regional discounts and scholarships that appear somewhat arbitrary. The University of Louisville (in Kentucky) includes Connecticut in its regional scholars program. And at the University of Nebraska, out-of-state admitted applicants are eligible for several thousand dollars in renewable scholarship money if they meet modest academic standards.

If you already have your heart set on an expensive school and you’re not likely to qualify for reciprocity, financial help, or merit aid, live at home and complete your first two years at your local community college.

Here’s another fun fact: in some places, graduating from community college with a minimum GPA gives you automatic acceptance to the state flagship university.

2. Leverage dual enrollment and “testing out”

When you enroll in a four-year college it’s pretty likely that you’ll spend the first two years completing general education requirements and taking electives. Why not further reduce the cost of your education by completing some of those credits at your local community college, or by testing out?

Community college per-credit tuition is usually much cheaper than at four-year colleges, so take advantage of the lower rate in high school and over the summer after you’re enrolled in your four-year college.

But beware: you’ll probably need at least a C to transfer the credits, so read your institution’s rules first. Also, plan to take general education and low-level elective classes, because you’ll want to take courses in your major at your four-year school.

If you’ve been given the opportunity to take Advanced Placement courses, study hard for your year-end exams. Many colleges will accept a score of 3 or higher for credit, although some require at least a 4 (and others none at all). Take four or five AP classes in high school, score well on the exams, and guess what? You’ve just saved yourself a semester of tuition.

3. Take advantage of financial aid opportunities

After taking steps one and two, you probably have a good idea of what the leftover expense will be if you want to leave college debt-free. Your next job is to figure out how to cut that total even more by using financial aid. There are four types to consider.

The first is called need-based aid. This is what you’ll apply for when you complete your Free Application for Federal Student Aid. Known as the FAFSA, this is where you’ll enter detailed financial information, and you’ll need at least an hour the first time you complete this form. Hint: apply for aid as soon as the form opens in the fall. It is not a bottomless pot of money.

There is also medical-based financial aid. If you have a condition that could make employment difficult after graduating from college, you may be eligible, and qualifying is separate and apart from financial need and academic considerations.

The third type of aid relates to merit and is offered directly by colleges. Some schools automatically consider all accepted applicants for merit scholarships, which could relate to academics or community service or, in the case of recruited athletes, athletics. At other universities, you’ll need to submit a separate scholarship application after you’ve been admitted. Some merit awards are renewable for four years and others are only for one year.

If you didn’t get need-based or merit-based aid then you still may qualify for a private scholarship. Some require essays, some don’t, and some are offered by local community organizations such as rotary clubs, women’s organizations, and the like. Don’t turn your nose up at small-dollar awards, either, because they add up quickly and can cover budget-busting expenses such as travel and books.

4. Find easy money

Small-dollar awards really add up when you make finding easy money a priority. Consider using the following resources to help leave college debt-free:

  • Returns from micro-investing apps like Acorns
  • Tax return refunds
  • Browser add-ons that give you cashback for shopping online
  • Rewards credit cards (apply for a travel rewards credit card if you’re studying out of state)
  • Asking for money at the holidays and on your birthday
  • Working part-time by capitalizing on a special talent, such as tutoring, photography, or freelance writing

Leave College Debt-Free

Finally, if you have to take out a student loan, you may be able to have it forgiven if you agree to serve your community after graduation. The Peace Corps is one such way to serve, but if you have a specialized degree such as nursing, you can work in an underserved community and reap the rewards of loan forgiveness.


Lisa Bigelow writes for Bold and is an award-winning content creator, personal finance expert, and mom of three fantastic almost-adults. In addition to Credit.com, Lisa has contributed to The Tokenist, OnEntrepreneur, College Money Tips, Finovate, Finance Buzz, Life and Money by Citi, MagnifyMoney, Well + Good, Smarter With Gartner, and Popular Science. She lives with her family in Connecticut.

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Student Loans

Do College Rankings Matter?

student at college campus mobile

All articles about college rankings should perhaps be read with a grain of salt and primarily through a lens of what matters most to individuals about the college experience and what they’re hoping it will be an investment toward.

Prominent publications and people have conveyed a variety of views about whether college rankings matter:

The editor-in-chief of the Science Family of Journals said no in May 2020. “To any logical scientific observer, the fine distinctions of where schools show up on this (U.S. News & World Report Best Colleges) list are statistically meaningless—but try telling that to a roomful of alumni or parents,” H. Holden Thorp wrote.

Ian Bogost, distinguished chair at Georgia Tech, wrote in The Atlantic in June 2020: “The absurdity of a numerical ranking mechanism for colleges becomes apparent the moment you look at how U.S. News calculates it. The methodology reads like a Dungeons and Dragons character sheet: 8% for class size; 10% for high-school-class standing; 4.4% for first-to-second-year student retention, and so on.”

But just because the consensus leans toward “no” doesn’t mean it should be the last word on anyone’s ultimate decision about where to go to school.

Even U.S. News & World Report says on its best-colleges website: “The rankings provide a good starting point for students trying to compare schools. … The best school for each student, experts say, is one that will most completely meet his or her needs, which go beyond academics.”

What Are the College Rankings?

There is no single, ultimate, etched-in-stone set of college rankings. All over the world, there are entities using a wide array of criteria to appraise universities.

Rather than expecting a “yes” or “no” to the question of whether college rankings matter, it would be more beneficial to understand why “It depends” could be more appropriate.

If you’re aiming for an education from a prestigious school, and money is no object—well, first of all, congratulations and good luck.

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Crime and Safety

What To Do This Weekend

activities-to-try-this-weekend

What to Do This Weekend

Weekend plans look a lot different nowadays, eh?  I’m sure you are as sick of reading stories that begin with,  “In these unprecedented times” or “Our new reality.”  So I’m going to skip the intro and the explanation …You are being a hero by staying home and protecting the health of your family and that of your neighbors.  Thank you!  Let me reward that good behavior with a list of a few things to keep you entertained this weekend.

Absurd Planet

It’s a ridiculous tongue in cheek nature show on Netflix.  There are plenty of adult jokes disguised as nature facts.  It’s child safe and adult approved.  The whole family enjoyed it!  If you are looking for a program the whole family can enjoy, add Absurd Planet to your watch list.

Watch Party

Speaking of Netflix, did you know you can watch a movie with friends long distance?  Check out  Netflix Party. It synchronizes everyone’s video playback and adds a chat feature.  If you and your significant other aren’t quarantining together, this is certainly a fun date night option, too!

Date Night Dinner & Dessert

If you are homebound with your significant other, you’re probably ready to spice things up.   Tasty did a great feature of creating a three-course meal from the pantry.  I was impressed….especially when one of the courses was peanut butter cookies!  Follow along and cook a great meal or just get inspired to create your own pantry date night!

Stretch

We are sitting still so much more than usual.  You need to give your joints and bones and muscles some love! Stretch them out!  There are plenty of free stretching videos on YouTube and the like, but my number one recommendation is the Peloton App.  They are offering a 90-day free trial right now, after that it’s $13/month.  The full body stretches are 5-15 minutes long giving you plenty of options.  Additionally, they have meditation, boot camp, running, and walking programs.  (and no, I’m not an affiliate…I just think it’s a great app)

Try A New Summer Recipe

Yeah, cooking isn’t a groundbreaking suggestion.  Approach it a little differently today.  Think of it as a meditation.  Take your time cleaning and cutting the fresh veggies or fruit.  Maybe watch a Youtube video first and learn a new technique.  Then when you are ready, take on one of these yummy summer recipes.

Dance 

Last week I took a dance lesson to learn the moves to the Tik Tok ‘Savage’ dance. The instructor was amazing…I was a *mess*!  But I haven’t laughed that hard in a while…and it used up a lot of energy!  You can find plenty of lessons on YouTube or you can try a virtual class with Diva Dance DC.  You can literally dance like nobody is watching! And who knows…maybe you will find some hidden talent!

Phone a Friend

….not for your sake, but for theirs.  People are getting cabin fever.  They need each other.  Scroll through your phone and find the friend that you know lives alone or the friend you know wishes they were living alone, and give them shout.  It doesn’t have to be a Zoom happy hour and it doesn’t have to be an hour long.  You can simply share a happy memory you have with them.  Small interactions and gestures go a long way right now.  

That’s it for this week.  As I find specific events or awesomeness, I will share a new post weekly!  If you have ideas or events to include next week feel free to send them my hollib@apartminty.com or @Apartmentalist on Instagram.

Be Well!

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Source: blog.apartminty.com