Tag Archives: 60K

Meet a single mom with $60k in student debt, SAVE payment too high – Business Insider

  1. Meet a single mom with $60k in student debt, SAVE payment too high Business Insider
  2. A 31-year-old with $44,000 in student debt is shocked she’s paying more after rollout of Biden’s new plan is botched: ‘It’s been a nightmare’ Yahoo Finance
  3. As federal student loan payments start up, Rochester borrowers prepare to bite the bullet Rochester Post Bulletin
  4. Opinion | What Pain Will a New Wave of Student Loan Payments Bring? The New York Times
  5. Student Loan Payments Not Quite Adding Up? You’re Not Alone. Education Department Estimates 420,000 Borrowers Affected by Miscalculations The Motley Fool
  6. View Full Coverage on Google News

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Brett Favre’s Charity for Needy Kids Gave $60K to His Daughter’s High School for Volleyball Facility

Before Brett Favre allegedly siphoned $5 million in Mississippi welfare funds to build a new volleyball facility at Southern Miss—his alma mater and where his daughter played the sport—his nonprofit for “disadvantaged children” helped bankroll a new volleyball facility at her top-performing high school, The Daily Beast has learned.

His charity also shelled out more than $130,000 to the University of Southern Mississippi’s athletic club between 2018 and 2020, records show, when he was working to build a volleyball facility there—apparently with state welfare funds.

The 52-year-old retired quarterback is embroiled in his home state’s largest-ever public corruption scandal, one where $77 million intended for Mississippi’s neediest residents was instead allegedly funneled to pet projects and personal expenses for friends and family of officials with the Department of Human Services (DHS) and purported nonprofits receiving the funds. Among the beneficiaries of the scheme are Favre, three former pro wrestlers, and a one-time college football star’s residence and horse ranch.

The ex-Green Bay Packer hasn’t been charged with a crime. But he and multiple other parties are facing a civil suit from DHS, which is attempting to recoup the squandered millions that belonged to the Temporary Assistance for Needy Families (TANF) program.

According to the complaint, Favre also coaxed the nonprofit Mississippi Community Education Center, a subgrantee of DHS that received tens of millions in federal money, to invest $2.1 million in biotech firm Prevacus and a corporate affiliate, of which Favre was a major backer. This center also paid Favre $1.1 million for motivational speeches he never gave. (Favre repaid the state for the fees, though reportedly still owes $228,000 in interest.)

Favre’s lawyer, Bud Holmes, has said the NFL legend didn’t know he’d received funds from the federal welfare program. He recently told Insider that his client “has been honorable from day one” and “has done so much charity work—and that’s all it was here.”

This latest scandal involving Favre, however, has spawned a public backlash that’s led to Sirius XM putting his show on time out and ESPN Milwaukee halting his weekly radio appearances, heat on Twitter including from former teammates and his biographer, and a Change.org petition from a “lifelong Green Bay Packers fan” to boot him from the Pro Football Hall of Fame.

The brewing outrage is perhaps no surprise to some residents of Hattiesburg who helped erect another Favre passion project: a $1.4-million volleyball facility for Oak Grove High School in 2015.

In January of that year, community newspaper the Lamar Times reported Brett and Deanna Favre advocated for the gym since their daughter Breleigh was a sophomore and avid volleyball player there. “They contacted Mike Rozier, a local builder, and it really grew from there,” the school district’s then-superintendent told the outlet, adding, “Currently nine teams use the OGHS gym. There is a great need for this facility.”

A review of nonprofit tax records reveals that Favre’s foundation, Favre4Hope, sent $60,000 to the booster club of suburban Oak Grove, which is among the state’s highest-rated high schools. The donation stood out among his group’s regular beneficiaries which include the Make-A-Wish Foundation, the Special Olympics, cancer charity the Pink Ribbon Fund, and Hope Haven, which serves abused and neglected children in Mississippi.

But nearly two years after the Oak Grove Lady Warriors’ new stadium was built, the contractor Mike Rozier Construction filed a lawsuit against the boosters, known as the Warrior Club, claiming the group still owed them $328,000. While Favre wasn’t listed as a defendant, he was named in a letter from the contractor’s attorney attached to the civil complaint.

The lawyer addressed the letter demanding payment to the school district superintendent, booster club president, and Favre and his company Favre Enterprises. “Rozier completed the construction of the Volleyball Facility upon the assurances of the Oak Grove Warrior Booster Club and Mr. Favre that Rozier would be paid,” states the November 2016 letter.

“In addition to the Warrior Booster Club and Mr. Favre, the School District has greatly benefited from the Volleyball Facility,” the missive continues, adding: “Rozier has performed in good faith throughout this Project. It is time for the parties to whom this letter is addressed to pay Rozier or at a minimum to develop a plan for doing so.”

In an affidavit filed in the case, the firm’s vice president Michael Rozier said that “the Warrior Club held itself out to be and acted like the owner of the volleyball facility. The Warrior Club’s representatives were Brett and Deanna Favre.”

Rozier says that in April 2015, he received an unsigned copy of a memorandum of understanding between the booster club and the construction firm “which detailed the relationship of the parties as to the construction of the volleyball facility,” but that the firm “rejected the terms and conditions of the proposed MOU” and “refused to sign” it. The firm “never agreed to be bound by the terms and provisions of the MOU,” he adds.

A judge later ruled in the booster club’s favor, after finding that no written or implied contract existed between it and the construction firm.

Rozier Construction did not return messages seeking comment.

But one person with knowledge of the situation told The Daily Beast the small-town legal scuffle reflected poorly on Favre. “He is a snake,” said the person, who asked to remain anonymous. “It’s just another example of character.”

The source said that Favre “wanted an indoor facility built” and raised funds for it and directed his entities to donate money, including at least $50,000 from his foundation.

“Basically at the end of it, the contractor was still owed fees,” the person added. “And Brett was friends with him, and Brett wouldn’t pay it, was trying to renege on it.”

“It was a shitty situation and wrong,” they fumed.

According to the source, Michael Rozier’s daughter also played volleyball at Oak Grove and that’s likely how his construction firm got involved in the project.

At the time, the person said, Favre would star in commercials for Farm Bureau insurance and have the company send his payments to the booster club for the facility.

“It was 100 percent something that Brett wanted,” said the source, who noted Favre was also briefly offensive coordinator for Oak Grove High’s football team. “But also he did do a lot for that community. He was loved there. He’s like a god kind of person.”

“But it’s like there were some kinks in his armor when he did that, tried to stiff the contractor and the boosters. I would say that probably left a bad taste.”

Sean Little, vice president of the booster club, told The Daily Beast, “The Warrior Club’s official response is no comment.” When asked about Rozier’s lawsuit, Little said, “That’s in our past and we have no comment.”

Mitch Brent, a former director of the Warrior Club, said he was angry the media was attacking Favre. “If you’re interested in finding more dirt, then I’m not interested in talking to you,” he told a Daily Beast reporter. “You just said he donated $60,000 to the booster club, and quite frankly that’s the tip of the iceberg of the good things he’s done. But he only gets publicity for the bad things, and I don’t think that’s fair.” Asked why Rozier sued the booster club over nonpayment, Brent said, “That was between him and Brett, I don’t know.”

In a 2020 interview with the AP, Favre mentioned he had raised funds for volleyball centers at the University of Southern Mississippi—and Oak Grove High.

“We wanted to do something for a high school and (Southern Miss),” Favre said. “We built one at Oak Grove High School (in Hattiesburg, where Favre has done some football coaching). And for Southern Miss, that was difficult — it’s hard to get people to donate for volleyball. But we’ll be opening an $8 million facility that will be as good as any in the country at Southern Mississippi.”

Favre, who earned roughly $140 million as a star NFL player over two decades, added that he was proud of his charitable endeavors through Favre4Hope.

“It would be a shame if people who can help don’t help,” Favre said. “By no means are we perfect, but we do try to give back.”

Nonprofit local news outlet Mississippi Today was first to publish text messages that pulled back the curtain on the welfare scandal and revealed that Favre and former Gov. Phil Bryant coordinated with Mississippi Community Education Center founder Nancy New to obtain funding for the volleyball stadium. “Nancy Santa came today and dropped some money off,” Favre texted New in December 2017, “thank you my goodness thank you. We need to setup the promo for you soon. Your way to kind [sic].”

In April, New and her son Zach pleaded guilty to criminal charges in the fraud scheme and have agreed to testify against their co-defendants, Mississippi Today reported. And last week, John Davis, the former executive director of the Missouri Department of Human Services, pleaded guilty to conspiring to defraud the state out of millions in federal funds.

Favre had earlier expressed concern the funding avenue would become public.

“If you were to pay me,” he texted New, “is there anyway the media can find out where it came from and how much?”



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Trump supporters ‘aghast’ at report Kimberly Guilfoyle was paid $60k of donors’ money to introduce her boyfriend at Jan 6 rally

Some Trump supporters are reportedly furious that Donald Trump Jr’s girlfriend Kimberly Guilfoyle was apparently paid $60,000 for a speech that lasted barely three minutes during the rally that preceded the Capitol riot on January 6, 2021.

On Tuesday, January 6 committee member Zoe Lofgren, a California Democrat, told CNN that “people were conned by the former president. They were conned into believing that the election had been stolen and that they should go to the Capitol, as the president asked them to”.

“They were conned out – I think the average donation from those false email requests, something like $17. These were people that weren’t rich people,” she added. “They were conned by the president. It was a big lie and it was also a big rip-off.”

“We know that Guilfoyle was paid for the introduction she gave at the speech on January 6th. She received compensation for that,” Ms Lofgren said. “I’m not saying it’s a crime, but I think it’s a grift.”

Ms Lofgren said Ms Guilfoyle received “$60,000 for two and a half minutes” in funds collected from donations from Trump supporters who believed the money would be used to challenge President Joe Biden’s election victory in the courts.

“You had money going to [Trump Chief of Staff] Mark Meadows’ foundation and to another foundation that hired the Trump supporters who lost their jobs,” Ms Lofgren said. “So it wasn’t what he said to his donors, this is to defend the election. It was an entirely different purpose. I think that was deceptive and not right.”

“People in Trumpworld are sharing that clip. They are aghast that this is the amount of money she got for a speech to introduce her boyfriend,” New York Times reporter Maggie Haberman told CNN on Tuesday.

Haberman said that one former Trump adviser said that “these were folks who were raising money in small amounts from retirees, telling them that this was going to some legal fight that didn’t really happen and instead Kimberly Guilfoyle was getting paid”.

Haberman said that this is how the Trump “ecosystem” works.

“There is some level of this that often goes on around Trump and it shouldn’t be a surprise to anyone,” she said.

“Donald Trump’s Save America PAC raised nine figures last year,” Philip Bump of The Washington Post noted. “It raised tens of millions of dollars well after there was any case to be made for a legal fight against the election results.”

“The last legal fight ended at the end of 2020, but he is still raising tens of millions of dollars from folks,” he added. “So it seems as though a lot of this money is … expressing support for Donald Trump, which is something, I looked, yesterday, he sent out 1,700 emails, right. This is something that has been ongoing for a long period of time. It’s totally detached from the election results itself.”

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$60K Bitcoin price back in sight after Morgan Stanley and Fed announcements

Optimism returned across the cryptocurrency market on March 17 following a brighter economic forecast from the U.S. Federal Reserve and comments which hinted at the possibility of an interest rate hike in 2022 if employment and economic indicators continue to improve. 

Data from Cointelegraph Markets and TradingView shows that Bitcoin struggled below the $57,000 level during early trading hours until the announcement from the U.S. Federal Reserve sparked a rally which took BTC to an intraday high of $58,243.

BTC/USDT 4-hour chart. Source: TradingView

Bullish momentum for the top cryptocurrency began to build after it was revealed that institutional banking giant Morgan Stanley will soon offer certain investors access to three funds that allow clients to own Bitcoin.

Further validation for a continuance of the current bull market came from Bitcoin’s stock-to-flow creator PlanB, who feels that BTC “will not stop” at $100,000 and could reach an average price as high as $288,000 with its all-time high registering even higher.

Traditional markets rally after Powell’s comments

After subdued trading in the early hours on Wednesday, equities markets saw an uptick in activity following Fed Chair Jerome Powell’s comments which sparked rallies in stocks and the major indices.

The S&P 500, Dow and NASDAQ finished the day up 0.29%, 0.58% and 0.40% respectively. The 10-year U.S. Treasury note also saw an increase of 1.23% to 1.641

Altcoins get a boost as Grayscale provides exposure

Select altcoins also moved higher after Grayscale Investments announced that it had added five new products to its lineup, offering exposure to Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT).

The announcement sparked price rallies for all the projects involved, with Livepeer seeing the biggest impact as its price rocketed more than 260% from a low of $5.53 to a new all-time high of $20.21.

At the time of writing, FIL is up 40.7% to a price of $89, MANA is up 7.3% to a price of $1.01and BAT has increased by 44% to set a new all-time high of $1.36.

Daily cryptocurrency market performance. Source: Coin360

The overall cryptocurrency market cap now stands at $1.8 trillion and Bitcoin’s dominance rate is 60.9%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



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