SUZE TALKS ABOUT SALLIE...

  Thank you, Suze!   Middle-class citizens are perpetually wading in the water trying to stay afloat in uncertain economic times.  It goes without saying that this situation will hit middle-America the hardest; who utilize the education system as their buoy to a better life.  Not long ago, I sat thru a documentary discussing the predatory lending practices of student loan institutions on & off college campuses across America [ "NOW on PBS" by David Brancaccio click link to view transcript].  It pinpointed the tactics of the nation's largest student loan company, Sallie Mae.  Sallie Mae, "said it will stop offering federal consolidation loans and cease paying loan-origination fees on Stafford loans.  As a result, borrowers will have to pay the price. Former students who want to consolidate their loans can now only turn to the government and a small pool of lenders."   [Read more: Sallie Mae Halts Student-Loan Consolidation at SmartMoney.com]   My student loan interest rate has also ballooned and took off like Falcon Heene!  However, Sallie Mae is also feeling heat.  Reportedly, the company's shares (once known as SLM Corp.) fell this past Friday to 6.7 percent after receiving a poor rating from Ladenburg Thalman analyst Brad Ball on their financial standing.  Meanwhile, their employees are fearful of losing their jobs since President Obama announced his plans to cut out the middle man -- private lenders such as themselves.  Yesterday, in his first State of the Union address President Obama conveyed his intention to place education reform amongst his top priorities & asked the U.S. Senate to join the House in an effort to reform the student loan system.  The plan proposes a $10K tax credit to families, including debt forgiveness to folks who've been paying on their student loan(s) for at least 20 years.      Basically, the idea is to eliminate the "middle management" of banks & other private lenders and the government itself will delegate funds for student loans directly. In my opinion, the audacity of these student loan institutions to set higher interest rates than credit card companies is appauling. Obviously, government intervention is necessary. Furthermore, I'm sure President Obama's intentions are well and if passed such implementations will work in the short term. However, many like myself are hopeful but skeptical. Sterotypically, government bureaucracy is known to misuse such policies. So, whether or not allowing government to "take over from here" will provide a long term remedy this looming ecomomic crisis is yet to be seen.   Tell your story...   What is your take on student loan debt & how are you handling it?   How has your experiences been with student loan companies such as Sallie Mae?   What is your take on the Obama administration's plan for education reform?

NEW YEARS in BLACK HISTORY

"WATCH NIGHT SERVICE"

Many of you who live or grew up in Black communities in the United States have probably heard of "Watch Night Services," the gathering of the faithful in church on New Year's Eve.

The service usually begins anywhere from 7 p.m. To 10 p.m. And ends at midnight with the entrance of the New Year.

Some folks come to church first, before going out to celebrate. For others, church is the only New Year's Eve event.

Like many others, I always assumed that Watch Night was a fairly standard Christian religious service -- made a bit more Afro centric because that's what happens when elements of Christianity become linked with the Black Church.

Still, it seemed that predominately White Christian churches did not include Watch Night services on their calendars, but focused instead on Christmas Eve programs.

In fact, there were instances where clergy in mainline denominations wondered aloud about the propriety of linking religious services with a secular holiday like New Year's Eve.

However, there is a reason for the importance of New Year's Eve services in African American congregations.

The Watch Night Services in Black communities that we celebrate today can be traced back to gatherings on December 31, 1862, also known as "Freedom's Eve."

On that night, Blacks came together in churches and private homes all across the nation, anxiously awaiting news that the Emancipation Proclamation actually had become law.

Then, at the stroke of midnight, it was January 1, 1863, and all slaves in the Confederate States were declared legally free.

When the news was received, there were prayers, shouts and songs of joy as people fell to their knees and thanked God.

Black folks have gathered in churches annually on New Year's Eve ever since, praising God for bringing us safely through another year.

It's been 145 years since that first Freedom's Eve and many of us were never taught the African American history of Watch Night, but tradition still brings us together at this time every year to celebrate "how we got over."

PS.  Pass this information on so we can educate more of our Family and Friends about our History!

*Unknown Source/Email