Less than one week after the federal government increased interest rates on federal student loans, U.S. Sen. Bill Nelson (D-FL) says he’s filing legislation to cut student loan rates across the board and allow borrowers with existing student loans to refinance to new lower rates.
On Saturday, federal student loan interest rates for undergraduate students increased from 3.76 percent to 4.45 percent. If approved, Nelson’s bill would cap rates for undergraduates at 4 percent, and allow borrowers with existing student loans that have a rate higher than 4 percent to refinance their loans to the new lower rate – a move that’s currently barred under existing law.
“If we really want to make higher education more accessible in this country, we have to make it more affordable,” Nelson said. “If you can get a home loan at 4 percent, why can’t students get an education for the same rate?”
More than 43 million Americans currently have outstanding student loan debt. In Florida alone, students graduating with a four-year degree leave college with more than $24,000 in student loan debt on average.
In addition to capping student loan rates, Nelson’s bill would also eliminate the “loan origination fees” charged to students to process their loans. These fees are often taken out of a student’s original loan amount before they receive it. For example, a student taking out a $10,000 loan may receive only $9,600 from their lender but still be responsible for paying back the full $10,000 after they graduate. Nelson’s bill would eliminate that $400 fee.
Once they are set each year, student loan interest rates are fixed for the lifetime of the loan and cannot be refinanced, even if rates go lower. Borrowers who took out loans between July 1, 2006 and July 1, 2013, likely have a fixed rate of 6.8 percent. And despite a significant drop in interest rates since 2013, current law bars those borrowers from refinancing their existing loans. Nelson’s bill would change that by allowing any borrower with an existing federal student loan to refinance their loans one time to a new lower rate.
In addition to capping undergraduate rates at 4 percent, Nelson’s legislation would cap rates for graduate students at 5 percent and the rates for parents of undergraduates at 6 percent.
Nelson says capping interest rates, ending loan origination fees and allowing borrowers to refinance existing loans would help to make education more affordable for Florida students.
The Florida Democrat plans to file his bill when Congress returns from recess next week.
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Additional goliath grouper workshop scheduled July 31 in Lake Worth
The Florida Fish and Wildlife Conservation Commission (FWC) has scheduled an additional public workshop, to be held July 31 in Lake Worth, to gather public input on goliath grouper management, including the possibility of a limited harvest in Florida state waters.
Fifteen workshops are scheduled in total across the state in August and October, including the July 31 event. Share your input and learn more about the current status of goliath grouper by attending one of these workshops.
Workshops will be from 5 to 8 p.m. local time:
- July 31: Lake Worth, Lantana Road Branch Library, 4020 Lantana Road.
- Aug. 1: Key West, Key West Marriott Beachside Hotel, 3841 N. Roosevelt Blvd.
- Aug. 2: Marathon, Hyatt Place Marathon/Florida Keys, 1996 Overseas Highway.
- Aug. 3: Key Largo, Murray Nelson Government Center, 102050 Overseas Highway.
- Aug. 8: Crystal River, Plantation on Crystal River, 9301 W. Fort Island Trail.
- Aug. 9: Carrabelle, Franklin County Senior Citizens Center, 201 NW Ave. F.
- Aug 16: Pensacola, Sanders Beach – Corinne Jones Resource Center, 913 S. I St.
- Aug. 17: Panama City, Bland Conference Center, 4750 Collegiate Drive.
- Oct. 9: Jacksonville, Pablo Creek Regional Library, 13295 Beach Blvd.
- Oct. 10: Titusville, American Police Hall of Fame & Museum, 6350 Horizon Drive.
- Oct. 11: Stuart, Flagler Place, 201 SW Flagler Ave.
- Oct. 12: Davie, Old Davie School Historical Museum, 6650 Griffin Road.
- Oct. 16: Pinellas Park, Bill Jackson’s Shop for Adventure, 9501 U.S. Highway 19 N.
- Oct. 17: Port Charlotte, The Cultural Center of Charlotte County, 2280 Aaron St.
- Oct. 18: Naples, Collier County Public Library – South Regional, 8065 Lely Cultural Parkway.
If you cannot attend an in-person meeting, submit comments online by visiting MyFWC.com/SaltwaterComments. Staff is working on a virtual workshop that should be available online in the near future. Additional details and updates to these meetings will be posted at MyFWC.com/Fishing (click on “Saltwater Fishing,” “Rulemaking” and “Workshops.”)
Business Incubator Helps Propel Nursing Business to Millionaire Club
Nurses can run successful businesses with a heart. Really.
Long-time friends with UCF ties launched Nurses First Solutions in 2014 and with a little help from the UCF Incubator program have seen their company grow from three employees to 12 and revenue climb from $300,000 to $6 million.
The say their keys to success have been knowing the business, spotting opportunities, treating staff and clients with respect, and getting a little help from business experts.
“We treat them like family,” said co-founder Richard Manuel. “They won’t be treated like a number. They can call the company president and speak to him directly. It’s more transparent in our company.”
Alvin Cortez ’08 and Manuel know the business. Manuel is a nurse and both men’s wives are nurses, including UCF alumna Jessiccalou Cortez ’08 and ’MS14. The men connected with their third business partner, Ronnie Elliott, and the UCF Business Incubation Program to expand their travel-nurse staffing agency in 2016. Cortez learned about the incubator program when he studied interpersonal communication at UCF.
Travel nurses typically work 13-week periods in one area, and move around the country depending on where they are needed. It’s a tough job and there are often gaps, and facilities needing help to fill those gaps. Nurses First Solutions provides nurses to facilities in need of professional workforce.
The founders knew about the job demands first-hand – the long hours, the life-saving work and the comfort that nurses provide to their patients. They also knew there were gaps in the industry, specifically for traveling nurses, when it came to retirement plans, health care insurance, paid time off and life insurance.
So they decided to do something about it. But they needed help on the business side and that’s where the incubator came in.
For nearly 20 years, the incubation program has been helping early stage companies develop into financially stable, high-impact enterprises by providing resources and services that facilitate smarter, faster growth. They help all kinds of companies from high-tech to low-tech.
Manuel and Cortez credit their site manager Carol Ann Dykes as the instrumental force that has pushed their business forward and propelled them into the millions.
“It takes grit on our part, but at the same time it’s good to have guidance along the way,” Cortez said. “They hold us accountable to having a structure. If you have questions, they’ll connect you to the right types of people.”
All the while, they have remained steadfast in their mission to put nurses first. They offer competitive benefits, paid time off, life insurance and retirement plans. They also follow through on personal touches such as sending flowers when their contracted nurses’ family members are sick or welcome boxes for new hires.
“People ask, does that eat up your profit? For us, it just makes sense,” Cortez said. “We’d rather give it back to the nurses. It’s ingrained in us to want to give back and do a little bit better for the people around us.”
They recently took that philosophy one step further by establishing the Nurses First Solutions Endowed Scholarship in April to support the undergraduate members of the Student Nurses Association within the College of Nursing.
Their office is next to the College of Nursing, and after sponsoring some events, they became interested in setting up a scholarship. That interest turned into action after they attended a scholarship luncheon and heard directly from nursing students about how scholarships impacted their lives.
“We wanted to plant the seed for these students – there are resources, there are opportunities out there. They have a wide array of opportunity ahead of them if they are truly passionate about nursing,” Manuel said. “The scholarship puts more back into the community and students that want to make a difference in people’s lives.”
Florida Lottery's summer EZmatch promotion turns up the heat with higher instant cash prizes
The Florida Lottery’s summer EZmatch™ promotion is back! For a limited time, players who add EZmatch to their FANTASY 5® or LUCKY MONEY™ purchases can instantly win higher cash prizes of up to $1,000.
From Monday, July 3, through Sunday, September 3, 2017, the EZmatch top prize will double from $500 to $1,000 and the second prize from $250 to $500. EZmatch players will also enjoy an increased minimum prize of $5, up from $2. Additionally, the number of $500 instant-win prizes will be doubled throughout the nine-week promotional period.
EZmatch is an add-on feature that gives FANTASY 5 and LUCKY MONEY players the opportunity to win cash prizes instantly, for an additional $1 per play. When players add EZmatch to their FANTASY 5 or LUCKY MONEY purchase, five EZmatch numbers and instant prize amounts will be printed on the ticket. If any of the EZmatch numbers match any of the FANTASY 5 or LUCKY MONEY numbers on the ticket, the player instantly wins the prize amount shown. Players can win up to five times on a single ticket. More than 74 million EZmatch winners have won over $261 million in cash prizes, since the feature was first introduced in 2006.
All EZmatch prizes of less than $600 can be redeemed at any Florida Lottery retailer. Prizes of $600 or more must be claimed at a Florida Lottery district office. If an EZmatch prize is paid by a retailer before the applicable FANTASY 5 or LUCKY MONEY drawing on the ticket has occurred, a continuation ticket will be provided to the player. EZmatch prizes can be claimed up to 180 days after the first draw date on the ticket. More information about this promotion, or any Florida Lottery game, is available at www.flalottery.com.
FANTASY 5 drawings are held seven days a week, at 11:15 p.m., ET and LUCKY MONEY drawings are held Tuesday and Friday nights at 11:15 p.m., ET. Florida Lottery drawings are broadcast on 17 carrier stations throughout the state and are available for viewing on the Florida Lottery website. Winning numbers are available on the Lottery website, at retailers statewide and by phone at (850) 921-PLAY.
Attorney General Bondi’s Fourth of July Statement
Attorney General Pam Bondi released the following statement in recognition of Independence Day:
“Two hundred and forty-one years ago, our Founding Fathers signed the Declaration of Independence to ensure our right to life, liberty and the pursuit of happiness. Since that historic day, generations of military men and women have sacrificed everything to protect those rights. It is because of their service that we are able to enjoy this nation’s freedoms and privileges today. So this Fourth of July, as we celebrate our great democracy, let us also honor those brave Americans who have and continue to serve our country.”
Commissioner Adam H. Putnam Provides Tips for Safe Fourth of July
Florida Commissioner of Agriculture Adam H. Putnam and the Florida Forest Service encourage Floridians to use fireworks responsibly while celebrating this Fourth of July. Since January, 2,433 wildfires have burned approximately 195,157 acres throughout Florida.
“While recent rainfall has lowered wildfire risk across the state, the potential for wildfire is always heightened when fire and sparks are present outdoors,” said Commissioner of Agriculture Adam H. Putnam. “It’s crucial for Floridians to exercise caution when enjoying fireworks, cookouts and campfires with friends and family this weekend.”
Individuals should always check local laws before using fireworks. Local fire and police departments and the State Fire Marshal’s Office can also provide guidance. Floridians celebrating with fireworks or campfires should follow these safety tips:
- Light fireworks in a cleared area free of vegetation or dry debris.
- Clear debris from around campfires, grills and all fire sources.
- Remove debris from any location where fireworks could land.
- Always have a water source available.
- Aim fireworks away from people, homes and wooded areas.
- Never use homemade fireworks.
- Discard used fireworks in a bucket of water.
- Store unused fireworks, matches and lighters out of the sight and reach of children.
- Never leave a fire unattended and make sure it is completely out before leaving it.
- Report any fires immediately to 9-1-1.
The Florida Forest Service, a division of the Florida Department of Agriculture and Consumer Services, manages more than one million acres of public forest land while protecting homes, forestland and natural resources from the devastating effects of wildfire on more than 26 million acres. To learn more about Florida Forest Service programs, visit FloridaForestService.com.
For more information about the Florida Department of Agriculture and Consumer Services, visit FreshFromFlorida.com.
UCF Professor Wins National Master Ethics Teacher Award
With the number of businesses running into trouble for everything from inappropriate funding to sexual harassment allegations, UCF Professor Marshall Schminke makes sure students in his classes are schooled in business ethics.
His college colleagues say he is a pro and this summer so did his colleagues nationwide. Schminke was one of four professors recognized for their excellence with a national Master Ethics Teacher Award.
He was recognized for making significant contributions to the teaching of business ethics at the Teaching Ethics at Universities Conference in late May.
Schminke has served as a research fellow with the Ethics Resource Center in Washington, D.C., and was an advisor to organizations ranging from family businesses to Fortune 500 firms, the U.S. Strategic Command and Army. He also has been an expert witness on corporate ethics in U.S. District Court proceedings. Schminke received his doctorate from Carnegie Mellon University and has served as a visiting scholar at Oxford University and the London School of Economics.
He has published two books, more than 40 articles, and given more than 70 presentations on business ethics at professional conferences and universities in the United States and abroad. His thoughts on business strategy, management and ethics have appeared in more than 50 newspapers and magazines, including the New York Times, Newsday and Chicago Tribune.
This year Schminke was joined by fellow award recipients Joanne Ciulla of Rutgers University, Daryl Koehn of DePaul University and Jeffrey Sonnenfeld of Yale University.
The Marriott School of Business at Brigham Young University hosted the conference and it was sponsored by the Society for Business Ethics and the Wheatley Institution at BYU.
Upcoming Public Meeting for the South Lake Trail Design Project
The Florida Department of Transportation (FDOT) is conducting a public information meeting regarding the South Lake Trial, Phase IV design project which involves eight miles of new trail construction, trail head facilities, cattle crossings, pedestrian overpass and underpass structures and landscaping.
The meeting will be held on Monday, July 10, 2017, at the Tedder-Thomas Memorial Civic Center, 121 N. Sunset Avenue, Mascotte, Florida 34753. The meeting will be an open house from 5:30 p.m. to 7:30 p.m.
The purpose of this public information meeting is to receive public input and to gain ideas from the local community about the proposed improvement. FDOT staff will be available to discuss the plans and answer questions.
Persons with disabilities who require accommodations under the Americans with Disabilities Act or persons who require translation services (free of charge) should contact Ada Vargas, 1800 Pembrook Drive, Suite 265, Orlando, Florida 32810; telephone 407-401-8527; or via email at [email protected] at least seven days prior to the meeting. If you are hearing or speech impaired, please contact us by using the Florida Relay Service, 1-800-955-8771 (TDD) or 1-800-955-8770 (Voice).
Public participation is solicited without regard to race, color, national origin, age, sex, disability, or family status. Persons wishing to express their concerns relative to FDOT compliance with Title VI may do so by contacting Jennifer Smith, FDOT District Five Title VI Coordinator by phone at 386-943-5367, or via email at [email protected].
Participants may also provide public comments at any time during the meeting. Written comments can be submitted at this meeting, or by mail no later than July 17, 2017, to Ada Vargas, 1800 Pembrook Drive, Suite 265, Orlando, Florida 32810..
Media inquiries should be directed to the FDOT Public Information Office at 386-943-5473 /[email protected].
Additional source for information on state roadway projects in Central Florida is just a click away. Visit our website at www.cflroads.com.
Florida State Fire Marshal’s Office Urges Floridians to Celebrate Safely this Fourth of July
Ahead of Tuesday’s Independence Day celebrations, the Florida State Fire Marshal’s Office urges Floridians to celebrate safely when using fireworks and sparklers. According the National Fire Protection Association, fireworks start an average of 18,500 fires per year, and the Consumer Product Safety Commission reports more than 11,000 fireworks-related emergency room visits in the U.S. during 2016.
To help Florida families stay safe this season, they are encouraged to keep the following tips in mind:
Contact local officials. Verify if your local community has imposed a burn ban due to drought conditions.
Use only approved products. Many dangerous and illegal fireworks, rockets and explosive devices are readily available for purchase. By Florida law, these are unlawful for private fireworks displays and are significantly more likely to cause fires.
- Do not sign a waiver in order to purchase illegal fireworks. Signing a waiver will not clear a consumer of responsibility if caught illegally using fireworks.
- Only purchase products from licensed vendors.
Control your environment. Fireworks should be used only on sand, concrete or another non-flammable surface, away from brush, trash or other objects that could catch fire.
- Never give fireworks (including sparklers) to young children, as they can reach temperatures between 1,300 and 1,800 degrees, which is at least 200 degrees hotter than a standard butane lighter.
- Keep pets indoors and away from all fireworks.
- Light only one item at a time and never attempt to re-light.
Be prepared. Have a fire extinguisher or a hose and a bucket of water readily available.
Attend a public fireworks show. Be safe, not sorry. Many local governments make significant investments to put on professional fireworks shows. Consider attending one in your area instead of lighting your own.
For a complete list of Florida-approved fireworks Florida families can enjoy, click here.
Florida consumer sentiment rebounds upward in June
Consumer sentiment among Floridians rose 2.1 points in June to 96.4, changing course after two months of decline.
Among the five components that make up the index, four increased and one decreased.
Survey respondents’ perceptions of their personal financial situation now compared with a year ago showed the greatest increase, up 6.4 points from 85.5 to 91.9. “Importantly, all Floridians share these perceptions, independent of their age, gender or income,” said Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.
Opinions as to whether now is a good time to buy a big-ticket household item such as an appliance increased 1.7 points to 102, although readings vary across demographic groups. “In particular, positive perceptions are seen among women, those under age 60 and those with an annual income of $50,000 and over, while they are negative among men, seniors and those with income under $50,000,” Sandoval said.
Expectations of personal finances a year from now rose 3.5 points to 104.8. “Overall, Floridians appear to be more optimistic. Most of the increase is due to the positive perceptions of consumers’ current and future personal finance situation,” Sandoval said.
Views on the future of the U.S. economy were mixed: Expectations of U.S. economic conditions over the upcoming year dropped 1.8 points to 91.8; however, anticipation of U.S. economic conditions over the next five years ticked up eight-tenths of a point from 90.8 to 91.6.
The labor market in Florida has continued to strengthen, adding jobs on a monthly basis. Since the beginning of 2017, the unemployment rate has declined steadily. The Florida unemployment rate in May was 4.3 percent, down two-tenths of a percentage point from April. As of May, the number of jobs added statewide over the last year came to 228,000, a 2.7 percent increase that outpaces the nation’s job growth rate of 1.6 percent.
The positive outlook of Floridians may also be fueled by cheaper prices at the gas pump, the lowest in over a decade going into the Fourth of July travel season. Having a few extra dollars left over after each fill-up may contribute to feelings of financial well-being.
Nationwide, economic activity has increased and inflation has declined on a 12-month basis. As a result, last month the Federal Reserve decided to raise the federal funds target range to between 1 percent and 1.25 percent.
“This change will eventually be transmitted to other interest rates, including car loans, credit cards and mortgages,” Sandoval said. “The evolution of consumer perceptions as to whether it is a good time to buy a big household item in the following months will be an important indicator in assessing how the increased interest rates affect consumption.”
Conducted June 1-28, the UF study reflects the responses of 479 individuals who were reached on cellphones, representing a demographic cross section of Florida.
The index used by UF researchers is benchmarked to 1966, which means a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2, the highest is 150.
Details of this month’s survey can be found at http://www.bebr.ufl.edu/csi-data.
