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Facts on a Stafford Loan

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In the current economy, pursuing an academic career is hindered by the finances needed to attain one. That’s why different kinds of student loans are widely used throughout the United States. One of the most popular is the Stafford Loan. They are affordable, low-interest, federally guaranteed loans from the federal government to give students the ability to pay for college and pursue a career. These loans are given in the name of the student or parent and a credit check isn’t required to get one. One good thing about these loans is that they are guaranteed by the federal government and have fixed interest rates that don’t usually change. These types of loans help students who want to go to colleges and older returning adults. A college degree is extremely helpful to teach each person how to control their personal or family budget or manage their investments much better.

A university degree is a valuable accomplishment that goes a long way to enable students who grow up and need to have more knowledge to properly maange their investments as they mature.

For those planning to get a Stafford loan, here are some guidelines you should know:

1. Qualifications for you to apply – for you to be eligible, you must register via a Free Application for Federal Student Aid (FAFSA). The student must be a permanent resident or qualify as an eligible non-citizen. The student should also have a social security number and must have a high school diploma. There are different types of cases discussed to be qualified for the FAFSA. You can complete this application either by applying online or submitting a written application via normal mail. When the process is done, FAFSA will determine the amount of the loan. Following that, the student will sign a legal document called a Master Promissory Note (MPN) which states the borrower will take responsibility for the repayment of the loan. This serves as another step in the student’s learning about managing their future finances.

2. Subsidized and Non-Subsidized Loans (Need or Non-Need Based) – Subsidized Loans are availed for families with less than $50,000 adjusted gross income. There are different case scenarios discussed by the government as guidance for families who need the Stafford loan assistance. Non-subsidized loans on the other hand can be available for any student regardless of family income and need. Interest is both fixed at 6% for subsidized and 6.8% for non-subsidized which are valuable factors in finance that students need to learn about.

3. Federal Direct Student Loan Program (FDSLP) and the Federal Family Education Loan Program (FFELP) – these are 2 different types of loans that are available, each loan has it’s own qualifications. FDSLP loans are provided by the government and are also called Direct Loans. The money is disseminated through the universities which will be passed directly to incoming college students or their parents as a loan. FFELP loans on the other hand are administered by banks, loan associations, and other private lenders. Although administered by private organizations or companies, this type of loan is still governed by federal rules and regulations. This loan experience serves to teach students more about managing their future financial obligations.

4. Repayment – Both programs on Stafford Loans offer different repayment options and different terms for repayment.

A Stafford Loan is the most widely used loan by students as it offers a low and fixed interest rate. It will surely provide students extra financial aid for colleges or universities. You can apply today, and once qualified, start classes at the university within a week. Is it time to obtain your new career goal?

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TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term

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Bitcoin started a strong decline from the $43,500 resistance against the US Dollar. BTC remains at a risk of more downsides below the $39,200 support.

  • Bitcoin started a major decline after it failed to clear the $43,500 resistance.
  • The price is still trading below $41,000 and the 100 hourly simple moving average.
  • There was a break below a major bullish trend line with support near $42,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue to move down if there is a break below the $39,200 support.

Bitcoin Price Declines Heavily

Bitcoin price gained pace for a move above the $42,500 level. However, BTC struggled to gain pace for a move above the $43,500 resistance zone.

A high was formed near $43,497 before the bears appeared. As a result, there was a fresh decline below the $42,000 support level and the 100 hourly simple moving average. Besides, there was a break below a major bullish trend line with support near $42,000 on the hourly chart of the BTC/USD pair.

There was a fresh decline below the $41,200 support zone. Bitcoin even declined below the $40,000 support zone. A low is formed near $39,261 and the price is now consolidating losses.

On the upside, an initial resistance is near the $40,250 level. It is near the 23.6% Fib retracement level of the recent decline from the $43,497 swing high to $39,261 low. The first major resistance is near the $40,500 level. An upside break above the $40,500 resistance could start a steady recovery wave towards $41,200.

Source: BTCUSD on TradingView.com

The next key resistance is near the $41,200 level, above which the bulls might aim a test of $42,500. Any more gains may perhaps call for a move towards the $43,500 resistance zone.

Fresh Drop in BTC?

If bitcoin fails to start a fresh increase above $40,500, it could start a fresh decline. An immediate support on the downside is near the $39,500 zone.

The first major support is seen near the $39,200 zone. A downside break below the $39,200 support zone may perhaps spark another major decline. The next major support is near $38,500, below which the price could even decline below the $38,000 zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is in the oversold zone.

Major Support Levels – $39,500, followed by $39,200.

Major Resistance Levels – $40,250, $40,500 and $41,200.

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Binance’s CZ Explains Why Banning Crypto Ads Won’t Affect Demand

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Several regulators around the globe have taken a hostile approach around crypto exchanges and crypto-related companies by forbidding them to advertise the industry to the general public. However, Binance’s CEO Changpeng Zhao thinks this will not affect the high demand of the market.

Curbing Crypto Ads

Crypto-related firms have been accused by international regulators of marketing their services with misleading messages that undermine the risk digital assets investments could possess to users.

Spain, U.k., and Singapore have banned the advertisement of crypto to different extents.

In Singapore alone, crypto exchanges and other licensed companies can only publish ads on their own websites and mobile apps to avoid reaching the general public.

The country’s ban includes “any form of advertisements or promotional materials in public areas such as Singapore public transport, public transport venues, broadcast media or periodical publications, third party websites, social media platforms, public events or roadshows.”

“MAS stresses that DPT service providers should conduct themselves with the understanding that trading of DPTs is not suitable for the general public. These Guidelines set out MAS’ expectation that DPT service providers should not promote their DPT services to the general public in Singapore.“

Spain requires a pre-approval for any crypto advertisement directed towards an audience of 100,000 or more people and all ads and must include a warning like such: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.”

In the U.K., authorities have banned several ads that they have claimed to be “irresponsible and took advantage of consumers’ inexperience or credulity.” 

Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC

Why It Won’t Affect Price

The price of cryptocurrencies is driven by demand and supply, meaning the interest users have in the market and the availability of each digital coin. For this reason, the effects that bans might have on the adoption of cryptocurrencies are believed to be important for the future of the market.

Binance CEO Changpeng Zhao (also known as “CZ”) alleged during a CNBC International interview that the reason why regulators take this approach on advertisements is that the crypto industry has a huge demand.

Even though the CEO thinks these bans could slow down the industry’s growth, CZ is not worried about the macro picture because he thinks the demand for crypto is so high that curbing crypto ads will have little impact.

Changpeng Zhao claimed that most users are driven to the crypto industry through “word of mouth” marketing rather than ads.

“Clampdown on crypto advertising is unlikely to have much of an effect on demand, as most of the crypto users come from word-of-mouth promotions anyway.”

CZ noted that Facebook and Google opposed crypto ads for a long time and even though they are giant platforms that reign over the internet, this has not affected the adoption of digital assets.

Binance is the largest crypto exchange in the world and it recently withdrew its application to start a cryptocurrency exchange in Singapore after facing pressure from the country’s regulators over concerns of risks and consumer protection.

The exchange, however, has not lost interest in conducting business in the country. The global regulatory framework is miles away from becoming clear, and Binance is working to adapt and comply, taking “strategic, commercial and developmental” considerations.

CZ stated that Binance hasn’t driven its eyes away from Singapore for the country might change its regulatory framework later on.

The future location of Binance headquarters remains a mystery. CZ said they are exploring “everywhere in the world.”

The CEO noted that Binance is working with many authorities to help them build a comprehensive regulatory framework for the crypto market.

Related Reading | Binance’s CZ Wants Entrepreneurs To Create Coins. Does His Argument Make Sense?

Crypto Total Market Cap

At the time of writing, the global market cap of cryptocurrencies sets its price at $1,8 trillion, showing a decline of %3 in the daily chart.

Crypto total market cap at $1,8 trillion in the daily chart | Source: TradingView.com

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Bitcoin’s Plan To Fix The Crowdfunding Problem?

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Bitcoin's Plan To Fix The Crowdfunding Problem?

Crowdfunding has been around for some time now, and although it has been a hard time for some projects to gain funds, bitcoin could be the answer.

Let’s look at the root of the troubles and how crypto could potentially address them.

Related Reading | Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop

The In’s and Outs…

Crowdfunding is a practice where you can donate money – including cryptocurrencies such as Bitcoin, Litecoin, and more cryptocurrencies – to projects, associations or people to develop ideas. It is a very powerful mechanism and tool for innovation and supporting social enterprises. Different platforms, such as Kickstarter and Indiegogo have not taken their foot off the brakes; the web 2.0 crowdfunding movement, which has led to the creation of several billion-dollar tech startups, like Oculus, and raised millions of dollars for thousands of causes, is ripe for development.

Crypto crowdfunding has the potential to be a network that connects people and their ideas. Today, crowdfunding is dramatically narrowed by its reliance on legacy finance, which limits the vast majority of the world from accessing it. Although this is good in theory, and has worked thus far, the major issue is the reliance on the legacy financial infrastructure, that is not only costly but globally fragmented.

BTC: Bitcoin bouncing back after hitting all time high in November 2021. | BTC:USD tradingview.com

Most crowdfunding platforms are only found in 30 countries. To date, the costs of operating crowdfunding in this network are very high, due to the many mediating third parties involved. The average crowdfunding platform charges a 7% fee per successful project. Could crypto’s aggressive transaction fees beat out traditional competitors?

Crowdfunding & Crypto: A Pair Of Aces…

Many platforms have had a hard time with the tight reliance of legacy financial infrastructure; this has made some crowdfunding platforms move over to the “web 3.0” model.

One big example is Kickstarter, who has decided to move from its reliance on Stripe to creating its own crowdfunding protocol on other blockchains. This may make sense for equity-based crowdfunding, which can enable the platform and it’s users to invest in new companies and their ideas.

A prime example of these worlds coming together was just last year with Bitcoin Smiles, which raised roughly 1.8 BTC. Bitcoin Smiles was an initiative aiming to raise funds and provide free dental care to impoverished people living in rural areas of El Salvador. Another project that can be used as an example is Kivéclair, a development project that educates people about bitcoin in the Democratic Republic of the Congo.

Although these are only few examples of early crowdfunding in crypto, these do provide a valid source and hope that bitcoin can still rally through its community of caring bulls and bears.

Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

 

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