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Student loan borrowers may be experiencing whiplash this year, as the rules and guidelines for repayment have continued to see massive sweeping changes. If you’ve been following along with political news in recent months, you’re likely already aware of the fact that president Donald Trump has plans to dismantle – and perhaps entirely abolish , the Department of Education. This is a far cry from Joe Biden’s economic plans , which included wiping out millions in student loan debt over the course of his term, and setting the stage for additional loan forgiveness down the line. Whether you’re a borrower concerned about your financial future, or just a passive onlooker questioning the economic impact of Trump’s many executive orders , you may be interested in what happens to unpaid student loans when and if the Department of Education goes the way of the dodo bird. Luckily we’ve got you covered, with a comprehensive look into the history of the Department of Education, what Trump is...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. On February 1st, President Donald Trump signed an executive order to impose tariffs on America’s biggest trade partners: Mexico, Canada, and China. Canada and Mexico were supposed to face a 25% tariff, while China received a 10% tax. In response, Canada, Mexico, and China announced that they would retaliate by imposing their own tariffs on American goods. On February 10, China will hit the US with a 15% tariff on coal and a 10% tariff on crude oil, farm equipment, and some vehicles. The Trump administration has prioritized tariffs as a key policy focus, despite warnings from economic experts about their potential negative impact on the economy. Many voters supported Trump due to his economic promises, but since taking office, several of his policy decisions have contributed to rising costs of living. As of last week, tariffs on Canada and Mexico have been postponed until March, as both countries...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Americans aren’t the only ones prepping for another tedious four years under President-elect Donald Trump. Since the results of the 2024 election projected Donald Trump as the winner, tech leaders from companies like Meta, Amazon, OpenAI, and others have shelled out seven-figure investments to Trump’s inaugural fund. According to CBS News, Amazon founder Jeff Bezos has donated $1 million and plans to stream the inauguration on Prime. Meta, the parent company of Instagram and Facebook, will donate $1 million, along with OpenAI CEO Sam Altman, who delivered an optimistic statement about the President-elect’s election win. “President Trump will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead,” Altman said in a statement, per The Associated Press. Elon Musk, CEO of X, Tesla, and SpaceX, and general pop culture menace has been a lurking presence...
Business owners are watching a back-and-forth battle that’s become tougher than playing tennis against Coco Gauff , and neither side is backing down. The two opponents? Business owners (specifically a Texas gun shop, the National Small Business Association and the state of Alabama) versus the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury (USDOT). What are they debating about? Nationwide business owners being required to file the Beneficial Ownership Information Report (BOIR) before January 1, 2025 in order to avoid a $591 fine, criminal penalties of up to two years in prison and repeat offenses that could lead to them owing $10K. What Is The Beneficial Ownership Information Report (BOIR)? Effective January 1, 2024, many companies in the United States must report information about their beneficial owners (the people who own or control their companies) to FinCEN , a bureau of USDOT. Filing is free and a onetime occurrence in order to...
Tanya Van Court’s Goalsetter has reached yet another milestone since launching in 2019. As AFROTECH™ previously reported, the founder and CEO founded the fintech platform to help youth and families gain access to banking and financial education, including tools, investing, and savings. In 2021, Goalsetter’s mission caught the attention of NBA stars Kevin Durant, Carmelo Anthony, and Andre Drummond, who all invested in the company’s $15 million Series A funding round. Now, Goalsetter has announced that the round isn’t finished just yet. According to a press release shared with AFROTECH™, Goalsetter has closed on a $9.6 million Series A extension round. The new round was led by an affiliate of Edward Jones and MassMutual through its MM Catalyst Fund, the press release details. Fellow investors included Fiserv, Seae Ventures, Webster Bank, Astia Fund, Partnership Fund for New York City, Reseda Group, and InTouchCU. “Our new Series A extension marks a significant milestone for...
For Black families, family reunions are a staple. From the matching T-shirts to the cookout at the picnic, it is a time for relatives to get together to reminisce and make new memories. And while the vibes of family reunions are usually high energy, there is sometimes the ambiguity of meeting new cousins and discovering folks one may have never met, which Sixto Cancel can relate to. Cancel knows firsthand the impact of not growing up around family or knowing where he belonged. He started navigating the foster care system when he was 11 months old. Since then, his journey has been full of challenges but also a realization that the system tasked to support and help him was consistently failing him. At one point, he had even given up on the concept of family. “When I was 15, and I realized that the system was going to continue to fail, it was like, ‘Okay, Sixto, how do you make sure that you are prepared to live on your own, you’re prepared to be able to work, you’re prepared to make...
The year 2018 was the year Black people temporarily traded in the coveted head nod for the Wakanda Forever signal. It was a moment of endearment, a chance for connection, and an unspoken term of social engagement. That phenomenon is credited to “Black Panther,” written and directed by Ryan Coogler. Coogler is an Oakland, CA, native and American filmmaker. The film director graduated from Sacramento State with a B.S. in business administration/finance in 2007. From there, he would be accepted to USC School of Cinematic Arts, where he made short films and honed his screenwriting skills. At USC, his skills would lead him to write and direct his breakout film “Fruitvale Station” in 2013. Starring Michael B. Jordan, “Fruitvale Station” is a film that depicts the real-life story of Oscar Grant, III. From that breakout moment, Coogler would go on to make other feature films, including “Creed” and the Marvel hit “Black Panther.” His work gained him the recognition of his peers with several...
To empower communities of color, Apple has committed $25 million to credit unions and financial institutions, which it will deploy through CNote, a women-led impact investment platform. CNote is thrilled to work with @Apple to expand access to capital in communities of color across the country! https://t.co/VfJS54uUG6 pic.twitter.com/WcvJlI5fF6 — CNote (@goCNote) May 5, 2022
Two students have made beauty supply products more accessible for their peers. While attending the University of Michigan, Mia Wilson and Rico Ozuna-Harrison recognized securing beauty products for people of color was far from easy. The nearest beauty supply store requires a 20-minute drive to Ypsilanti, MI, forcing students to purchase last resort products from nearby stores. “Supplies aren’t directly on campus and there are no stores or beauty supplies for students of color nearby. The stores on campus are just Walgreens and CVS,” Wilson told AfroTech. “So, oftentimes you can’t find the proper products that will best suit our hair types in those stores.” The inconvenience sparked the inception of YOUniversity Beauty Supply Machine through their business Innovending LLC, to ensure Black and brown students were represented at the University of Michigan. The beauty dispensary can be found in the basement of the university’s Union building and students can purchase hair oil, durags,...
John Deere is doubling down on its commitment to uplifting Black farmers. In the midst of the Black Lives Matter protests that followed the murder of George Floyd last summer, the leading tractor equipment company created a coalition on a mission to improve the livelihood of Black farmers. Legislations, Education, Advocacy, and Production (LEAP) was created to put action behind the company’s commitment to supporting Black farmers and now it’s advancing its mission in a partnership with the National Growers Council and the Thurgood Marshall College Fund (TMCF). Together, they will partner with the Federation of Southern Cooperatives/Land Assistance Fund to help eliminated barriers created by Heirs Property. “I am extremely excited about John Deere’s history and ongoing support of the Federation’s work in this regard,” shared Dania Davy, Director of Land Retention and Advocacy at the Federation in an exclusive interview with AfroTech. “For over 50 years, the Federation has worked to...
Meet the two forces on a mission to build a village committed to financial well-being. According to Business Wire, The Village Financial Cooperative will be launched thanks to two leading organizations in the credit union sector. “We remain committed to the launch of the Village Financial Cooperative, and will be working in close coordination with both the Minnesota Credit Union Network and the African-American Credit Union Coalition,” said Debra Hurston, Executive Director at the Association for Black Economic Power (ABEP) — who was appointed in December 2020 — in a news release. ABEP is a nonprofit that was birthed right from North Minneapolis community members who believe in the critical need for institutional economic power to address inequities experienced by Blacks in Minnesota. “In addition to the new alliances we are forging within the credit union sector, our objective is to continue to nurture a broad base of support for the Village Financial Cooperative, including...
Before the days of social media, there was such a time where we actually had to wait for media headlines to circulate timely news like awards show results if we missed the initial viewing. Thanks to platforms like Twitter, Black users have created a new ritual for watching awards shows that allows us to both view and commentate in real-time with other fellow users online. Black Twitter — defined by The Guardian as “a particular collective of black identities and voices on Twitter taking part in culturally-specific jokes and dialogues that affect the community” — innovated this practice which is sometimes referred to as “family reunions.” This reunion aspect comes into affect largely when major TV and film events air, seemingly creating virtual viewing parties before they became a popular trend amid the pandemic. Black Twitter’s presence online grew to prominence during the 2010s as an influential cultural force that has called attention to many historic moments such as...
From working in radio to owning the radio! According to WIVB 4, Sheila Brown is now the first Black woman to own a radio station in Buffalo, New York. Her career started in radio at WUFO in Buffalo, New York during the 80s and she decided to part ways after 14 years in the business when new management arrived. She made a vow to someday return, and eight years later she not only returned but also purchased the station. “I looked at the building and I waved and said, don’t worry baby, I’ll be back,'” Brown told reporters. “I went through everything, we had banks say no like three times before they said yes, credit unions said no your business plan needs to be updated, but True Bethel and Bishop Daris Pridgen, they had faith in me.” Brown, a native of Buffalo, who grew up in Hamlin Park says she always dreamed of doing amazing things. As the youngest of three siblings, she credits her family, strong support system, and upbringing to her success. “My uncles coming to see us would go hey...
The financial industry is a world within itself, with everything from credit to investments falling under its umbrella. For many people, however, it’s a confusing place that doesn’t have the greatest track record of accountability and transparency with the general public. Enter Blend . Realizing the need for such clarity, a leading digital consumer banking platform partners with banks, credit unions and other lenders to streamline mortgages, provide consumer loans and deliver banking options for those tired of the confusing (and often paper-heavy) lending process. The company describes its mission as “[making] the process of getting a loan simpler, faster and safer.” Adding, “We form partnerships with banks and lenders to ensure consumers have access to a less stressful, more accessible lending experience. We’re not disrupting lending. We’re making lending better for everyone involved.” Founded by three core pillars — accessibility, transparency and simplicity — Blend is the...
It’s no secret that Silicon Valley companies don’t support their workers unionizing, but employees have been pushing back recently. After the civil unrest last summer following the death of George Floyd, employees across the nation have been calling on their leadership to make actionable changes on the front of diversity, equity and inclusion. By definition, labor unions are organized associations of workers, often in specific trades, companies or professions, formed to protect and further their rights and interests from pay to benefits, working conditions and beyond. Unions are especially unusual for big tech companies. However, after years of confrontation between management and workers, more than 400 engineers and other personnel at Google recently unionized to apply pressure on their leadership, according to The New York Times. That may seem like a big union to you but to put the numbers into perspective, the internet giant employs more than 260,000 full timers. The Alphabet...