SMC Stymied by Student Debt Law

first_imgHomeFeaturedSMC Stymied by Student Debt Law Jan. 01, 2020 at 6:01 amFeaturedNewsSMC Stymied by Student Debt LawGuest Author1 year agodebtfinancesmc Marco Pallotti and Tatiana LouderSMC Corsair / SMDP Staff WritersBad student debt has doubled over the last for years at Santa Monica College but officials are left with fewer options for collecting following the passage of the Education Debt Collection Practices Act in October.The act applies to students at community colleges and universities throughout California“Student bad debt happens when a student signs up for classes and hits the postpone button,” said SMC Vice President of Business and Administration Chris Bonvenuto at the Sept. 3 SMC Board of Trustees Meeting.The most recent increase in debt, from 2017-2018 to 2018-2019, is $382,362.“The important thing to remember is that for this entire period the District budgeted for approximately $800,000 in student bad debt,” said Bonvenuto in an email. “In 2018-2019 the amount budgeted was increased by [approximately] 1.3 million to match the new reality of the student bad debt amount.”This “new reality” may be a harsher one for schools collecting debt. The Educational Debt Collection Practices Act, formerly AB1313, makes it illegal to withhold a transcript from a student in order to collect fees, mistreat a transcript request due to outstanding fees, or use a transcript as a means of debt collection from a student.Prior to this law, signed by Governor Newsom on Oct. 4, holding transcripts to collect fees was one of the primary means of collection.    As the new law will make it more difficult to collect bad debt from students, Benvenuto plans to carve out more of the yearly budget specifically to cover the debt. “Normally we budget $700,000 dollars for bad debt in that area. Two years ago, that number spiked to about 1.7 million,” continued Benvenuto at the Board meeting.  “This year, I’m proposing to increase the budget to 2 million dollars. No longer can I assume that number will drop to 700,000 again.” That 2 million dollar figure represents about 1.1 percent of the school district’s budget.Benvenuto said the future collection of debt is currently under discussion.“We’re trying to keep in mind the needs of the students, while being fiscally responsible,” he said. Benvenuto also added that to his knowledge, SMC is the only school in the area that allows students the option to postpone payment.Benvenuto said “that, too, is currently under discussion.”The next SMC Board of Trustees meeting is Jan. 21, 2020 at 7 p.m. in the Board Room in Business 117.Tags :debtfinancesmcshare on Facebookshare on Twitteradd a commentCurious City – HAPPY CRAZY NEW YEAR!New rules of the roadYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoNewsCouncil picks new City ManagerBrennon Dixson17 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter17 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor17 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press17 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press17 hours agolast_img read more

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Moriarty takes off from LSB

first_imgRichard Moriarty is to step down as chief executive of the Legal Services Board in February next year after only a year in post.He will return to the Civil Aviation Authority as deputy chief executive and group director, consumers and markets.last_img

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Quindell facing potential legal claims worth £9m

first_imgListed UK company Quindell is facing legal claims of up to £9m after being served a notice of forthcoming action.The company told the London Stock Exchange this morning that it has received a letter described as a ‘notice of intended claim’ from a law firm acting for a claimant group.The letter was sent by north-west firm Your Legal Friend (YLF), which is representing shareholders who believe they have lost money due to alleged misleading profit statements.The notice suggests that it intends to start legal proceedings against Quindell under the Financial Services and Markets Act.The statement said: ‘Whilst the company is not in a position to verify the assertions in the notice (as no claim has been received as yet), the notice estimates the value of the potential claims against the company to be a maximum of approximately £9m before costs (if awarded).’It added that Quindell intends to ‘vigorously defend’ all such claims and they are not expected to have an impact on intended capital returns.Quindell, which sold its professional services division to Australian firm Slater and Gordon earlier this year – effectively ending its provision of legal services – said it is not aware of any other groups or firms making claims against it.The company said the notice provides little detail on the potential claim or the timing of the pre-action letter of claim, and no information to support the valuation of the individual prospective claimants’ claims.YLF announced last year that it was mounting a legal challenge on behalf of Quindell shareholders who may have lost money as a result of allegedly misleading statements about profit figures.In June the firm said it had been contacted by more than 500 investors seeking compensation.last_img read more

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Rebels plummet in polls after latest loss

first_imgOXFORD — Ole Miss took a big drop in the latest top 25 polls.The Rebels are No. 18 in the new AP poll and 19 in the USA Today coaches’ poll, both released Sunday. Ole Miss (8-3, 4-3 SEC) lost 30-0 to unranked Arkansas on Saturday, the Rebels’ third loss in four games.Ole Miss had been ranked No. 8 going into the game, including in the College Football Playoff top 25. That poll comes out on Tuesday, and Ole Miss is expected to make a similar drop (ending any chance of a New Year’s bowl game).Kellenberger: Slide leaves Ole Miss searching for answersArkansas was the top vote getter not in the top 25 in the AP poll.last_img

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Take-away’s from Gruden’s last presser before training camp

first_imgWashington Redskins’ Head Coach Jay Gruden spoke to the media today at a press conference, presumably his last until training camp begins July 26. Gruden was very impressed with Samaje Perine, saying that he has done an excellent job this spring and has been one of the team’s top offensive performers. Missing Players – There has been much discussion around Trent Williams over the last week, after the Pro-Bowl left tackle missed mandatory OTA’s with various outlets reporting on the reasoning. Injuries – Gruden stated that he expects Geron Christian to be back by training camp after blowing out his knee last year. Gruden went on to state that the entire rookie class came to play in great shape, and that he was impressed by all of them. Lastly, Gruden stated that the Redskins intend to have Erek Flowers play left guard, even though he filled in at tackle this spring. Likes – Gruden was quick to point out that Shaun Dion Hamilton and Fabian Moreau were the two most improved players on the field during OTA’s. Other takeaway’s – Regarding rookie signal caller Dwayne Haskins, Gruden emphasized that Haskins has a long way to go, but he is happy with where the rookie is at this time. They threw a lot at him during the camp to acclimate him to the NFL. In a dose of good news for the Redskins, Gruden also shared that he expects Darrius Guice to be ready for camp after his ACL injury during the preseason last year. He was unsure, however, about Bryce Love. According to Gruden, Haskins is still getting used to NFL verbiage. For his part, Haskins told the media that he intends to be at Redskins park for most of July, studying and preparing for camp. The Redskins resume training camp July 26 in Richmond, VA. Please follow and like us: When asked about Williams, Gruden stated that he expects all of his players to be in camp and that it is too early to talk about “ifs.” Gruden had quite a bit to say about injuries, missing players, and what he saw and liked during OTA’s. last_img read more

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Security State Bank’s Bustraan completes lending school; Sisson now Wal-Mart branch manager

first_imgDanielle BustraanKatie SissonSubmitted to Sumner Newscow — Two employees at Security State Bank are on the move upwards: Danielle Busstraan has completed her commercial lending school while Katelyn Sisson is a branch manager. ———Bustraan, Vice President at Security State Bank in Wellington, recently completed the 2016 Principles of Commercial Lending School in Grand Island, Neb. It was sponsored by the Kansas and Nebraska Bankers Association. The course focuses on financial and business analysis and includes nearly 40 hours of intensive classroom instruction and group work.  Jon Ott, Security State Bank President said “Danielle’s continued education along with her many years of experience in banking  will allow her to better serve our loan customer’s multiple financial needs. We invite you to stop by and visit with Danielle or our other lenders at Security State Bank.”———Security State Bank is proud to announce the promotion of Katelin Sisson to Branch Manager at their Walmart Location. Sisson joined Security State Bank with over 15 years of customer service experience in January, 2015. Sisson’s continued involvement in the banks day-to-day operations, strong customer service, and knowledge of our assorted deposit accounts make her a valuable resource for our organization. “Katie thrives on the challenging, fast-paced work that our customers present to us, and her adaptable nature makes her efficient at handling many moving parts and reacting to customer’s request effectively,” Ott said. “Stop by and visit with Katie about your banking needs.”   Security State Bank Walmart Branch hours are Monday-Friday 10 a.m. to 8 p.m. and Saturdays 11 a.m. to 3 p.m. Follow us on Facebook.Follow us on Twitter. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (2) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +1 Vote up Vote down mom2mykids · 185 weeks ago Great job girls…. Report Reply 0 replies · active 185 weeks ago +2 Vote up Vote down nancy colwell · 185 weeks ago Congrats ladies!! Keepin it Security State Strong! Report Reply 0 replies · active 185 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more

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