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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYields will end the year lower than where they are now, says Piper Sandler's Michael KantrowitzMichael Kantrowitz, chief investment strategist at Piper Sandler, joins 'Squawk on the Street' to discuss how the strategist is parsing through the earnings results thus far, if there are still hopes for a bond rally, and more.
Persons: Piper Sandler's Michael Kantrowitz Michael Kantrowitz, Piper Sandler
Last June, on a whim, I canceled Amazon Prime. I still regularly buy things from Amazon with free shipping, but I'm happily out on Prime. After canceling Prime, I've been able to reevaluate the necessity of that ultra-fast, free shipping and have found it mostly unneeded. AdvertisementLeaving Prime also meant the end of free Amazon Prime Video, but I've been able to bear it. If Amazon Prime members started reconsidering and discarded the service en masse, it would be trouble for the company.
Persons: I'd, I'm, I've, Max Organizations: Amazon Prime, Amazon, Netflix, Big Technology Locations: America
U.S. President Joe Biden talks to reporters as he departs the White House on June 28, 2023 in Washington, DC. The Supreme Court's conservative majority in June ruled that President Joe Biden didn't have the authority to cancel student debt for millions of Americans. That alternative plan, which has become known as Biden's Plan B, could forgive student debt for as many as 10 million people, according to one estimate. "President Biden has done more to implement student loan forgiveness than any previous president," said higher education expert Mark Kantrowitz. A spokesperson for the White House did not respond to a request for comment.
Persons: Joe Biden, Joe Biden didn't, He's, Biden, cancelation, Mark Kantrowitz Organizations: House, Finance, U.S . Department of Education, White Locations: Washington ,
watch nowThe U.S. Department of Education says it plans to update a key part of the new Free Application for Federal Student Aid formula, which will result in $1.8 billion more in aid for college-bound students this year. The announcement comes weeks after the simplified FAFSA soft launched Dec. 30 after a monthslong delay. As a result, more middle- and higher-income students could qualify for a Pell Grant, a type of aid available to low-income families, added higher education expert Mark Kantrowitz. Currently, the maximum Pell Grant award is $7,395. "Students on the edge of Pell Grant eligibility could be most affected," Kantrowitz said.
Persons: Justin Draeger, Pell Grant, Mark Kantrowitz, Kantrowitz Organizations: U.S . Department of Education, Federal, Aid, National Association of Student Financial
Netflix Q4 earnings on deck: What you need to know
  + stars: | 2024-01-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix Q4 earnings on deck: What you need to knowJason Snipe, founder and CIO at Odyssey Capital Advisors, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss Netflix ahead of the company reporting earnings.
Persons: Jason Snipe, Alex Kantrowitz Organizations: Netflix, Odyssey Capital Advisors, Big Technology
D3sign | Moment | Getty ImagesFederal student loan bills resumed in the fall after a pause of more than three years. "Negative information shouldn't be reported during the 12-month on-ramp period, but positive information should be included," Rossman said. Still, check for errors on your credit reportStudent loan borrowers should regularly check their credit reports to make sure the information is accurate, Kantrowitz said. If your loan servicer makes an error, such as reporting your loan as delinquent during the on-ramp period, you'll want to bring it to their attention quickly, he said. In this case the creditor would be your student loan servicer, on behalf of the U.S. Department of Education.
Persons: Ted Rossman, Rossman, Kantrowitz, Organizations: U.S . Department of Education Locations: Annualcreditreport.com
Pixdeluxe | E+ | Getty ImagesThe Biden administration announced last week that it would fast-track its plan to deliver student loan forgiveness for certain borrowers in its new repayment plan. "A borrower who is already enrolled in the SAVE plan should see this forgiveness automatically," Rubin said. Generally, only Direct loans qualify for the SAVE plan, including Direct subsidized, Direct unsubsidized and Direct PLUS loans. Once your debt is rolled into a Direct Consolidation Loan, you should be able to access the SAVE plan. "If a borrower currently has a loan in default, the defaulted loan is not eligible to be repaid under a SAVE plan," Rubin said.
Persons: Biden, Elaine Rubin, Rubin, Mark Kantrowitz, Kantrowitz Organizations: U.S . Department of, Valuable Education, U.S . Department of Education, SAVE, Direct, Finance Locations: Edvisors
Rohit Chopra, director of the Consumer Financial Protection Bureau, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., Dec. 15, 2022. When student loan servicers make errors by cutting corners or sidestepping the law, it can "pose serious risks to individuals and the economy," said Consumer Financial Protection Bureau Director Rohit Chopra. Borrowers experienced long phone hold times with their servicers, significant delays in the processing of their repayment applications, and inaccurate and untimely billing statements, the bureau found. The U.S. Department of Education announced Friday that it would withhold payments to three student loan servicers as part of its efforts to hold the companies accountable. "Today's actions make clear that the Biden-Harris Administration will not give student loan servicers a free pass for poor performance and missteps that jeopardize borrowers," Secretary of Education Miguel Cardona said in a statement.
Persons: Rohit Chopra, servicers, Mark Kantrowitz, Harris, Education Miguel Cardona Organizations: Consumer Financial Protection Bureau, Banking, Housing, Urban Affairs Committee, Washington , D.C, Financial, U.S . Department of Education, Finance, Biden, Harris Administration, Education Locations: Washington ,, EdFinancial, Nelnet
The earlier families fill out the form, the better their chances are of receiving aid, since some financial aid is awarded on a first-come, first-served basis, or from programs with limited funds. However, that shouldn't prevent families from completing the FAFSA in the days that follow, he added. "While there may be some hiccups along the way, students and families should do what they need to do to file as soon as possible," he said. Up until now, "the multiple student adjustment has been the single most important data element affecting one's eligibility for federal student aid," Chany said. At the same time, the new FAFSA will raise the family income threshold, making more students eligible for federal need-based aid.
Persons: Rick Castellano, Sallie Mae, Castellano, What's, Kalman Chany, Chany, Pell Grant, Mark Kantrowitz Organizations: IRS, slims, Department, Education, Princeton, CNBC
Student loan borrowers should be aware of debt relief scams
  + stars: | 2023-11-29 | by ( Annie Nova | ) www.cnbc.com   time to read: +1 min
It has been a frustrating and confusing time for many student loan borrowers. As payments restarted in October after a three-year break, borrowers were often given confusing or insufficient information on their accounts. "When borrowers have difficulty reaching their loan servicers or are disappointed by the lack of loan forgiveness, they look elsewhere for help," said higher education expert Mark Kantrowitz. "Student loan scams fill the gap." At StudentAid.gov/repay, you can apply for different repayment plans, forgiveness programs and payment pause options for free.
Persons: Joe Biden, Mark Kantrowitz, Ari Lazarus, , Kantrowitz Organizations: Finance, Federal Trade Commission, StudentAid.gov Locations: StudentAid.gov
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRemain in high-quality stocks that can withstand volatile macro backdrop: Piper Sandler's KantrowitzMichael Kantrowitz, chief investment strategist at Piper Sandler, joins 'Squawk on the Street' to discuss the big surprise to Kantrowitz investment thesis going into the year, what the firm's price target will theorize, and more.
Persons: Piper Sandler's Kantrowitz Michael Kantrowitz, Piper Sandler
But converting federal student loans into private debt can lead to the loss of a number of consumer protections, experts warn. Federal loans have more safeguardsThe most important thing to keep in mind when considering refinancing your federal student loans is that, should you move forward, your debt will be transferred to a private company, and become a private student loan. "Private student loans don't have the same benefits as federal student loans," Kantrowitz said. While federal student loan rates reset annually for new loans, they're fixed once disbursed. Federal student loan borrowers don't need to refinance to get a slightly better rate, Kantrowitz pointed out: Most student loan servicers will offer a 0.25% interest rate deduction when you sign up for automatic payments.
Persons: haven't, Mark Kantrowitz, Kantrowitz, Scott Buchanan, Buchanan, Betsy Mayotte, I've, servicers Organizations: Student Loan, Alliance, Finance, cryptocurrency, U.S . Department of Education, Federal Reserve, The, Student Loan Advisors, Federal Locations: U.S, Mayotte
U.S. President Joe Biden speaks about administration plans to forgive federal student loan debt during remarks in the Roosevelt Room at the White House in Washington, U.S., August 24, 2022. Leah Millis | ReutersPresident Joe Biden's new plan to forgive student debt is likely to look much different than his first. His administration has already started that process, and established a "Student Loan Debt Relief Committee" — including Wisdom Cole at the NAACP, Kyra Taylor at the National Consumer Law Center and several student loan borrowers — to hash out the details. Reach of relief could drop to 10% of borrowersNearly 40 million Americans stood to benefit from Biden's original student loan forgiveness plan. Less than 10% of federal student loan borrowers are likely to qualify this round, Kantrowitz said.
Persons: Joe Biden, Leah Millis, Joe Biden's, Wisdom Cole, Kyra Taylor, Mark Kantrowitz, John Roberts, Kantrowitz, Luke Herrine, Herrine Organizations: White, Debt, NAACP, National Consumer Law Center, Finance, Biden, . Nebraska, University of Alabama, CNBC Locations: Washington , U.S, .
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSam Altman returning to OpenAI will open the floodgates in competition, says Alex KantrowitzAlex Kantrowitz, founder of Big Technology, joins 'The Exchange' to discuss Sam Altman returning to OpenAI, shares of Microsoft, and more.
Persons: Sam Altman, Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology, Microsoft Locations: OpenAI
Richard Levine | Corbis News | Getty ImagesFor decades, it was nearly impossible for student loan borrowers to walk away from their debt in bankruptcy court. Congress has set a high bar for discharging student loan debt in bankruptcy. Under the new process, student loan borrowers complete a form to assist the government in evaluating their discharge request. "It makes it easier for student loan borrowers to qualify for bankruptcy discharge by clearly setting out the policy," said higher education expert Mark Kantrowitz. Federal student loan borrowers have several ways to reduce their debt burden, including payment plans with $0 monthly payments and economic hardship and unemployment deferments.
Persons: Richard Levine, That's, Biden, , Mark Kantrowitz, Kantrowitz Organizations: United State Bankruptcy Court Southern District of NY, Corbis, U.S . Department of Justice, U.S . Department of Education, American Bar Association, Consumer, Federal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with CIC Wealth Malcolm Ethridge and Big Technology's Alex KantrowitzMalcolm Ethridge, CIC Wealth Executive Vice President, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss their year-end playbook, market outlook, and tech sector.
Persons: Malcolm Ethridge, Alex Kantrowitz Malcolm Ethridge, Alex Kantrowitz Organizations: Big Technology
Right now, it's up 7.7% year-over-year and continues to rise, prompting Kantrowitz to say it's a "huge red flag for me." Still, while the unemployment rate is up to 3.9% from its 3.4% low earlier this year, unemployment claims have not spiked meaningfully. Piper Sandler"Regarding employment – I see enough data that has me convinced that we are at the very onset of a recession right now," Kantrowitz said. If the unemployment rate continues to tick upward, even slightly, it will likely trigger the Sahm rule mentioned above. Plenty of market onlookers see a recession in 2024, including DoubleLine Capital CEO Jeffery Gundlach and Citadel founder Ken Griffin.
Persons: Piper Sandler's Michael Kantrowitz, Kantrowitz, Piper Sandler, Sahm's, It's, Claudia Sahm, Jon Wolfenbarger, Wolfenbarger, Jeffery Gundlach, Ken Griffin, Goldman Sachs, Jan Hatzius, Brian Moynihan Organizations: Federal, Business, Institute for Supply Management's, Investor, Federal Reserve, National Federal, Independent, Treasury, Conference, DoubleLine Capital, Citadel, Bank of America
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpenAI is already a company headed for a decline, says Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Fast Money' to talk Sam Altman's departure from OpenAI and what's ahead for the company.
Persons: Big, Alex Kantrowitz Alex Kantrowitz, Sam Altman's Organizations: Big Technology Locations: OpenAI
The US economy added just 150,000 jobs, under the expected 180,000, and the unemployment rate rose to 3.9%, now 0.5% higher than its low earlier this year. Federal Reserve Bank of St. Louis/Bullandbearprofits.comSecond, the inverted yield curve is starting to steepen. An inverted yield curve has been an extremely reliable recession indicator over the last several decades. Bullandbearprofits.com"Proven leading indicators show that the unemployment rate is likely to start rising materially soon. Piper SandlerIn addition to the yield curve and employment indicators above, other recession indicators continue to point to a downturn ahead.
Persons: Jon Wolfenbarger, Merril Lynch, Wolfenbarger, Louis, bode, Piper Sandler's Michael Kantrowitz, Piper Sandler, Societe Generale's Albert Edwards, Edwards Organizations: JPMorgan, Federal Reserve Bank of St, National Federation of Independent, Fed, Bank of America, Societe Generale's, Generale, Edwards . Societe Generale Locations: lockstep, Edwards .
After the Supreme Court rejected President Joe Biden's sweeping forgiveness plan earlier this year, the president announced a series of other relief measures for student loan borrowers. Already, Biden has managed to erase $127 billion in education debt for more than 3.5 million borrowers, largely through Public Service Loan Forgiveness and income-driven repayment plans. The most beneficial so far has been the new Saving on a Valuable Education repayment plan, which aims to get federal student loan borrowers the lowest monthly payment possible — even zero dollars. Yet parents who took out loans on behalf of their children are ineligible for all income-driven repayment plans, including SAVE. "Many of these provisions do not apply to parent borrowers," said Kalman Chany, a financial aid consultant and author of "Paying for College" from The Princeton Review.
Persons: Joe Biden's, Biden, Mark Kantrowitz, Kalman Chany Organizations: Public, Finance, Princeton
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets will stay between a soft and hard landing, says Piper Sandler's Michael KantrowitzMichael Kantrowitz, chief investment strategist at Piper Sandler, joins 'Power Lunch' to discuss his market outlook, job numbers, and more.
Persons: Piper Sandler's Michael Kantrowitz Michael Kantrowitz, Piper Sandler
As student loan bills restarted in October for tens of millions of Americans, the companies that service those loans made errors that potentially violate federal and state consumer protection laws. "The restart of repayment has caused pure chaos for nearly 3 million borrowers," said higher education expert Mark Kantrowitz, who reviewed the memo at CNBC's request. That plan, which was touted as the "most affordable repayment plan ever," was meant to ease the transition back to payments for borrowers. Federal student loan payments had been on pause for more than three years until they resumed last month. Yet one woman who signed up for the SAVE plan got a bill for $355, the memo says, when she was only supposed to owe $58.
Persons: Mark Kantrowitz Organizations: U.S . Department of Education's, Federal, Aid, Finance, Department, Biden, Valuable Education, SAVE
The U.S. Department of Education will penalize student loan servicer Mohela, or the Missouri Higher Education Loan Authority, for its failure to send timely billing statements to 2.5 million borrowers. As a result of Mohela's errors, more than 800,000 borrowers were delinquent on their loans, the Education Department said in a statement Monday. Higher education expert Mark Kantrowitz said he believed this was one of the first instances of the government withholding payment from a student loan servicer. "It is only fair for the loan servicer to be penalized for mailing late statements." Federal student loan payments were on pause since March 2020, due to the Covid pandemic, but resumed this month.
Persons: servicer Mohela, Rich Cordray, Mark Kantrowitz, servicer, Kantrowitz, Mohela, servicers, Sen, Elizabeth Warren, Braxton Brewington, Brewington, Biden Organizations: U.S . Department of Education, Washington , D.C, U.S . Department, Education, Missouri Higher Education Loan Authority, Education Department, Finance, Federal, Mohela, CNBC Locations: Washington ,, Missouri, forbearance
President Joe Biden delivers remarks on new efforts to cancel student loan debt at the White House on Oct. 4, 2023. watch nowThe Biden administration has evaluated millions of borrowers' loan accounts to see if they should have had their debt cleared. Paul Morigi | Getty ImagesThe Biden administration has tried to reverse the trend of borrowers being excluded from the relief on technicalities. Total and Permanent Disability dischargeThe Biden administration has also forgiven the student debt of more than 500,000 disabled borrowers. The $11.7 billion in aid was delivered under the Total and Permanent Disability discharge.
Persons: Joe Biden, Kevin Dietsch, Mark Kantrowitz, Kantrowitz, Biden, George W, Bush, Paul Morigi Organizations: White, Getty, Public, Consumer Financial, Bureau, Studentaid.gov, U.S . Department of Education, Social Security Administration, The Department of Veterans Affairs
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Technology's Alex Kantrowitz calls the market 'jittery' for tech earnings reactionDan Greenhaus, Solus Alternative Asset Management chief strategist, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss the market reaction to tech earnings and outlook for the rest of 2023.
Persons: Alex Kantrowitz, Dan Greenhaus Organizations: Asset Management, Big Technology
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