NEW YORK, March 14, 2023 (Newswire.com) - Credello: President Biden's executive order forgiving student loan debt for millions of Americans is in front of the Supreme Court (SCOTUS) to determine whether or not it can go through. Here's what you should know.

What happens if student loan forgiveness is struck down?

If SCOTUS should determine that Biden's executive order is unconstitutional, they may strike it down. If that happens, those with outstanding student loans would still be able to get relief through the government's other loan forgiveness programs- such as Public Service Loan Forgiveness and Perkins Loans - but they would not be able to use Biden's order.

However, the eligibility rules for these programs are strict and the majority of U.S. citizens will not qualify. If you're one of the millions who wouldn't be eligible, you have a few options:

• Consolidate your outstanding loans into a single personal loan - This may be a quicker solution than you think. As for how long it takes to get a personal loan the process can take anywhere from a few minutes to weeks. If you're applying for a personal loan online it could just be minutes but then the actual approval process may take a few days, especially if the lender needs to verify your income and creditworthiness. Pay attention to interest rates and ensure you're getting the best deal possible
• Keep an eye on the Department of Education's website - There may be new options available for refinancing your loans via the DOE if loan forgiveness is found to be unconstitutional. No updates are being given just yet, but there may be a backup plan from the federal government soon.
• Your loans may still be frozen for the time being - Even if student loan forgiveness is struck down, that doesn't mean your loan payments will be due immediately. There is a chance President Biden will continue having student loans frozen, as it's a good political move for appealing to Millennial and Gen Z voters come election time. If loan forgiveness does go through, then you'll have a solid nest egg of money you can put towards a rainy day, retirement, or putting a down payment on a home.
• Prepare your budget for the worst-case scenario (it's a win-win either way)- If student loan debt is a big problem for your finances, you shouldn't wait til the last minute to start creating your own "Plan B" should the EO get struck down. Start reworking your budget and put money away that you can put towards your student loan debt if payments start up again soon. That way, you'll have a chunk of money set aside that you can put toward your principal, reducing the amount of debt that accrues interest. If loan forgiveness does go through, then you've got a nice nest egg of money you can put towards a rainy day, retirement, putting a down payment on a home, whatever!

What happens if SCOTUS allows student loan forgiveness?

If SCOTUS rules that President Biden acted within his powers and that the executive order is legal, the plan to cancel certain types of student loan debt will immediately go into action. 

To be eligible for forgiveness you must:

• Have an income under $125,000 for individuals or $250,000 for couples
• Have received a Pell Grant in college (you will receive up to $20,000 in debt relief) OR
• Have received a student loan from the federal government (you will receive up to $10,000 in debt relief)

Unfortunately, it's too late to apply for relief from this program, as the deadline passed last October. However, there may be new options once this first round is decided in the courts. 

The bottom line

As SCOTUS weighs the legality of President Biden's executive order, it's important to stay up to date on the latest news via the Department of Labor's website. This way, you'll be able to make informed decisions about your own financial future and can plan accordingly.

About Credello

Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence.

Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit https://www.credello.com. 

Contact Information:
Keyonda Goosby
Public Relations Specialist
[email protected]
(201) 633-2125


Original Source: Biden's Student Loan Relief Plan is Facing the Supreme Court This Week. Here Is What You Need to Know.

NEW YORK, March 14, 2023 (Newswire.com) - Credello: With so many feeling the pinch of inflation and an unstable economy, it's no surprise that lenders and credit bureaus are deciding to adjust their methods. The traditional ways of determining creditworthiness just aren't realistic any longer, and credit reporting agencies are changing to reflect the times. Here are the new changes coming to your credit score.

Changes to FICO scores

The most popular method of determining creditworthiness is the FICO score. There are numerous versions of the FICO score, but generally, the FICO score 8 is the most widely used. 

What is FICO score 8?

Initially released in 2008, FICO score 8 was an updated model that used data from all three credit reporting bureaus (TransUnion, Experian, and Equifax) to calculate your credit score. Since then, other scoring models have come out, but model 8 has proven to be the one credit card issuers tend to stick with for determining whether you qualify for a new credit card.

FICO score 8 calculates a number between 300 - 850 by using five weighted factors and is "more predictive" than previous versions:

• Number of on-time payments (35%)
• Amount of credit used (30%)
• Credit history length (15%)
• Number of credit inquiries (10%)
• The mix of credit (10%)

How are FICO scores changing?

To adjust for new economic models, the Fair Isaac Corporation has decided to change the factors determining your FICO score with their latest model, FICO score 10.

1. Adding trended data to calculations - "Trended data" includes 24 months of your balance, payment, and credit utilization history behaviors. Previously, none of this information was used as a determining factor.

2. Removal of medical debt - Medical debt is a huge factor for many under- and uninsured, leading to debt levels in the tens or hundreds of thousands. Now certain medical collections will no longer be a factor in assessing your credit utilization. 

3. Adds rental payment history - Since many younger generations opt to rent, FICO has adjusted its scoring model to include rental payments as a consideration.

Changes to VantageScore

VantageScore is another credit scoring model that works similarly to FICO scores but was created to be "more inclusive" for scoring potential credit candidates (VantageScore estimates it "[opens] credit access to approximately 96% of adults in the US.") and leans heavily on predictive modeling to determine whether an applicant will be able to pay off their debts.

VantageScore 4 is now out and, like FICO score 10, includes the removal of medical debt and trended data, but also includes public records and machine learning to give a comprehensive picture of borrowers who may not have previous credit histories. In particular, this new scoring model was designed to benefit minorities in the U.S. who historically have had difficulties getting approved for credit and loans.

VantageScore 4 also now includes more emphasis on bank cards and checking or savings account histories to determine creditworthiness. It can also determine a score within one month, making applying for credit or loans even faster than traditional models, which took six months to establish a score.

Other new opportunities to boost your score

In addition to FICO and VantageScore updates, there are new developments in how you can adjust your credit score quickly.

Experian Boost can give instant increases in your credit score by considering your payment history for things like streaming services, utilities, and other bills. 

Signing up for UltraFICO can raise your credit score by using the history of your checking and savings accounts and the evidence of consistent cash on hand to your FICO score. UltraFICO was specifically designed for those with no credit or low credit scores who want a more comprehensive look at their finances to determine their creditworthiness.

The bottom line

Many changes are coming to credit scoring models, so it's important to keep up with the latest changes and understand how each model works and which opportunities you can take advantage of to optimize your credit score.

About Credello

Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence.

Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit https://www.credello.com. 

Contact Information:
Keyonda Goosby
Public Relations Specialist
[email protected]
(201) 633-2125


Original Source: New Alternative Methods Lenders Are Using to Assess Your Credit

NEW YORK, March 14, 2023 (Newswire.com) - Credello: Some Millennials are having debt troubles. Those who go into debt can sometimes work their way out of it. Others find themselves looking for a personal loan after bankruptcy and don't like their options very much.

Many Millennials can avoid actions as dramatic as bankruptcy to get their financial situations under control, though. Some are turning to personal loans through banks or credit unions if they need money to pay off outstanding debts.

This strategy makes sense for individuals who have credit card debts and want to pay less money in interest. Personal loans often come with lower interest rates, which is why this option seems so attractive.

Those who study the financial sector have noticed that Millennials getting personal loans are using credit unions more than banks recently. Let's take a moment to examine this phenomenon.

Some Millennials Have Soured on Banks

Both banks and credit unions can give Millennials personal loans if they're shopping for one. However, some from the Millennial generation are distrustful of banks.

Credit unions enjoy a better reputation with this population segment because they're smaller, local entities. By contrast, banks are seen as large, faceless corporations that don't care as much about the customer.

Whether fair or not, this perception is causing many Millennials to seek out credit unions rather than banks early in 2023 for their personal loans and other financial matters.

Getting Loans There is Easier

Some Millennials are also turning to credit unions before they feel the process of applying for a loan is simpler and not as time-consuming. Some are looking for loans with less-than-great credit scores. Credit unions are the entities more likely to grant them their wish.

Millennials Are More Tech-Savvy

Millennials are a generation that's more technologically savvy than those who came before. That means they know how to shop around online and compare loan interest rates rather than jumping on the first deal that a lending entity offers them.

Some are finding when they look at the interest rates credit unions offer them versus what they're getting from banks that the credit unions have the more favorable terms. These consumers will use their smartphones to check out comparison sites where they can zero in on the personal loan with the lowest interest rate. 

If that's a credit union, they can apply on their phones without ever having to go in and speak to someone in person.

Credit Unions Offer the Personal Touch

Some Millennials also feel that since credit unions are typically smaller, they can get the personal touch there that they wouldn't get with banks. If the consumer has a question about their personal loan or some other financial matter, they can pick up a phone and talk to someone at the credit union much faster than they would with banks. 

With a bank, they would likely have to navigate an automated phone menu and wait on hold to speak to someone. The smaller credit union seems like the better way to go.

Credit Unions Might Be Your Better Option

If you're a Millennial seeking debt consolidation through a personal loan, or if you need help with some other financial matter, the reasons we've mentioned for using a credit union over a bank might convince you. Credit unions offer the personal touch, with agents more readily available. You can usually talk to someone faster than you could through a national banking chain.

The tech-savvy Millennial can compare shop for loan offers on their mobile device. If the best offer comes from a credit union, you can jump on that.

Many credit unions will offer loans to Millennials with less-than-great credit. You might not get an offer from a bank. Some individuals from this generation generally distrust banks, viewing them as large, faceless corporate entities.

Using a credit union for your personal loan or other financial matters might make the most sense.   

About Credello

Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence.

Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit https://www.credello.com. 

Contact Information:
Keyonda Goosby
Public Relations Specialist
[email protected]
(201) 633-2125


Original Source: Why Are Millennials Using Credit Unions More Than Banks for Loans?

The award-winning solution offers a simple user experience and a clear measurable impact for internal stakeholders.

RICHMOND, Va., March 14, 2023 (Newswire.com) - Today, Shockoe's industry-leading work with Pet Paradise was recognized at the Summit Emerging Media Awards. As an award program representing entries from around the world, the Shockoe team's customer booking app stood out for its intuitive user experience, allowing pet owners to book services at any Pet Paradise location quickly.

"At Shockoe, our goal is to create measurable innovations that move the needle for our clients and their users to take brands like Pet Paradise to the next level," said Alex Otanez, CEO at Shockoe. "The collaboration with Pet Paradise is the perfect example of our team's ingenuity, flexibility, and commitment to building on a brand's proven track record to increase its reach."

Pet Paradise is a comprehensive pet healthcare provider that is quickly growing nationwide. The company needed a booking solution that matched its high-quality service to accommodate a wide range of offerings and locations. The Shockoe team created a custom mobile booking solution to meet the pet care provider's unique needs while streamlining the booking process for pet owners and the Pet Paradise team.

"Our experience with the Shockoe team was collaborative and innovative," said Kevin English, Chief Operating Officer for Pet Paradise. "From the onset, we knew our work with Shockoe would be a success thanks to their focus on measurable impact. Throughout the development of the mobile app, we were able to envision the value this new solution would provide for our customers and our team."

For the past 28 years, the Summit Awards have represented the best in digital, creative, and marketing excellence. In line with this caliber, the 2022 Emerging Media Awards were highly competitive, with entries from around the world representing the best in innovation and digital creativity. As a winner in the "leader" category, Shockoe's high-caliber solution is one of only 5% of submissions to be recognized.

Building on the international recognition from Summit Awards, the Shockoe team will continue to create digital solutions that make measurable changes and improve the user experience. Learn more about the Pet Paradise App & Shockoe's capabilities at: https://shockoe.com/work/pet-paradise/

About Shockoe: Mobile apps and immersive experiences have been part of Shockoe's DNA since 2010. Together with their clients, they create solutions for an immersive, predictive, and connected future. From mobile and wearables to Conversational AI, Web 3.0, & Augmented Reality, Shockoe's award-winning digital experiences make life easier. The company's core values set it apart - they empower the team to constantly pursue excellence and inspire solutions for companies like American Express, Anheuser Bush, Winn Dixie, Caribou Coffee, and the PGA Tour. Working with Shockoe means collaboration and transparent communication from day one, leading to an impactful, measurable digital experience.

Contact Information:
Ashley Hyman
Marketing Director
[email protected]
877.696.7001

Dan Cui
VP of Sales & Business Development
[email protected]
877.696.7001




Original Source: Shockoe & Pet Paradise Recognized for Innovative Mobile Booking Solution

Educating Fitness Professionals in the Development of Highly Specialized Programs Toward Wellness

PHOENIX, March 14, 2023 (Newswire.com) - The International Sports Sciences Association (ISSA), a world leader in the personal training certification industry, deepens its CPT offering to arm fitness professionals with a uniquely comprehensive model focused on creating customized workouts tailored to each client's needs and wellness outcomes. 

The model is specifically designed to increase the probability of client commitment and success by emphasizing the client's purpose behind wanting change. The model then equips trainers to design easily applicable, results-driven and highly personalized training systems accordingly.

"One of the hardest yet most important aspects of being a CPT is creating a training program that clients will stick to," said ISSA CEO, Andrew Wyant. "This involves connecting the program to the client's purpose and desired outcome, and then creating something extraordinarily customized that empowers, versus intimidates, the client. We are thrilled to be able to offer fitness professionals this proven model to do so."

The model teaches unique interview techniques, how to conduct advanced movement assessments, best practices in program modifications and more.

"Rooted in science, this model was developed to give trainers the tools to pivot, adjust and adapt to each client's unique motivators and goals, and create customized solutions to reach them," Wyant says.

The ISSA Purpose-Driven Training Model is a great foundation for new trainers looking to gain highly effective skills, or for seasoned professionals seeking further education to advance their careers.

###

About the International Sports Sciences Association 

The International Sports Sciences Association (ISSA), is the global leader in online fitness and wellness certifications. For over 30 years, ISSA has been committed to delivering comprehensive, cognitive, and practical education that's grounded in industry research. Rooted in Certified Personal Training certifications, ISSA offers over 50 fitness and wellness certifications and specializations, including a Yoga Alliance-recognized Yoga 200-Hour Teacher Training Course, Certified Personal Training en Español, Health Coaching, Nutrition, and more. ISSA has educated nearly half a million trainers across 176 countries, while driving toward their vision to connect 100 million people to the power of healthy living by 2030. www.ISSAonline.com.

Contact Information:
Colleen Reddington
Marketing Manager
[email protected]
800-545-8111


Original Source: ISSA Launches Purpose-Driven Training Model

SYDNEY, March 14, 2023 (Newswire.com) - Vivid Sydney will deliver the biggest and most culturally relevant program in its event history when it returns in 2023 from Friday 26 May to Saturday 17 June.

Australia's largest event and the pioneer of light-based art and culture festivals in the Asia-Pacific region has assembled some of the world's most innovative artists, talented music makers and thought leaders as part of its 2023 lineup, which also recognises the significant contribution of First Nations peoples and cultures to the creative industries.

Inspired by the master of all creators, Mother Nature, this year's theme, "Vivid Sydney, Naturally," is reflected across all of the 300+ activations and events that make up the 23-day program.

Vivid Sydney Light Walk's signature Sydney Opera House Lighting of the Sails will see the vibrant works of one of Australia's most famed artists, John Olsen, brought to life as a spectacular tribute to his illustrious artistic career of more than 60 years. Life Enlivened (2023) will include Olsen's evocative Salute to Five bells (1971-73) mural commissioned especially for the Northern Foyer of Sydney Opera House's Concert Hall, as well as other artworks spotlighting Olsen's fascination with Australian landscapes and nature.

The Vivid LIVE at Sydney Opera House lineup will feature more than 40 Australian and international artists. José González, Yaeji, Ella Mai, Cat Power, Devonté Hynes and many more will take to the stages of the world-famous building in a program curated by Sydney Opera House's Head of Contemporary Music Ben Marshall. 

The Vivid Music program will spotlight First Nations and Australian voices this year. The late Archie Roach AC will be celebrated with an incredible night of performances with the late artist's longtime friends and collaborators and special appearances by members of Roach's family. There will also be 12 nights of free music at Tumbalong Park, Darling Harbour featuring Yothu Yindi, Dan Sultan, cult Japanese artist Cornelius and many more.

British author and "master of her material" Jeanette Winterson features at Vivid Ideas and will reflect on questions of identity, sexuality, religion and more to unpack the idea of nature in LIFE AND MARS: The Future of Human.

And for the first time, Vivid Sydney's brand-new pillar — Vivid Food — will broaden the creative spotlight from Light, Music and Ideas to include culinary favourites and innovative food events. Work up an appetite for a fusion of street food; a barbecue of epic proportions with legendary pitmasters for Vivid Fire Kitchen at the Cutaway at Barangaroo; fine-dining experiences; and the return of 2022's sell-out Vivid Sydney Dinner at the Ivy Ballroom, a special feast by esteemed Sydney chefs Ben Greeno and Danielle Alvarez.

Vivid Sydney Festival Director Gill Minervini said Vivid Sydney has come of age and has evolved into a progressive and inclusive event that celebrates the best of an expanded definition of the creative industries in 2023. 

"Vivid Sydney is the original festival of light, art and culture. 2023 is the 13th time it has been staged and so it has naturally evolved over time to ensure that it stays relevant to the creative industries and what that means to people today," Minervini said.

"We are truly proud of this year's program. We have raised the bar on the size and scale of the events and activated new parts of the city. Our lineup features more diverse talent across more industries. 

"There are world-firsts and festival-firsts, and both free and ticketed events to make the festival accessible to everyone. Audiences should be prepared to be blown away by the calibre of talent and a program that has been inspired by the beauty and diversity of nature.

"Vivid Sydney's 2023 program is a celebration of authenticity, an invitation to connect, and a chance to create. You do not want to miss Vivid Sydney 2023."

Destination NSW CEO Steve Cox said Vivid Sydney was the biggest and most loved annual event in the NSW calendar that, in 2023, would once again support the entire ecosystem of the state's visitor economy. "Each year, visitors and Sydneysiders immerse themselves in the program and enjoy the activations of the talented creatives who make the festival so special. Last year we welcomed a record 2.58 million attendees across the festival footprint," Cox said.

"Vivid Sydney 2022 injected $119 million into the NSW visitor economy. It is our expectation that with its expanded program and more international travellers returning to our shores, Vivid Sydney 2023 will drive even greater visitor expenditure into the NSW economy."

Staged across Sydney's city centre, Vivid Sydney festival locations include Circular Quay, the Sydney Opera House, The Rocks, Walsh Bay, Barangaroo, King Street Wharf, Darling Harbour, Darling Quarter, Darling Square, The Goods Line, Central Station, the Royal Botanic Garden Sydney, Carriageworks, Taronga Zoo and more.

MEDIA ASSETS

The full 2023 Vivid Sydney media kit, program announcement and high-res imagery, including 2023 Vivid Sydney light renders and broadcast-quality video footage of previous festival highlights, are available to download at www.vividsydney.com/news-room. 

MEDIA CONTACTS

Greg Vekiarellis, Ogilvy PR 
PH: +61 401 873 217 
[email protected]

Jenna Whyte, Destination NSW  
PH: +61 484 719 536  
[email protected] 

ABOUT VIVID SYDNEY  

Vivid Sydney is Australia's largest festival celebrating creativity, innovation and technology, and transforms Sydney into a kaleidoscope of colour and events for 23 nights. Staged for its 13th year in 2023, Vivid Sydney will bring together mesmerising displays from the world's brightest light artists, exhilarating live music performances, deep-dive discussions with thought leaders, and innovative experiences from food creatives. Vivid Sydney is owned, managed and produced by Destination NSW, the NSW Government's tourism and major events agency. 

Contact Information:
Jenna Whyte
PR Manager
[email protected]
Related Files
Med Rel_Vivid Sydney 2023 serves up biggest program yet.pdf



Original Source: Vivid Sydney 2023 Serves Up Biggest Program Yet

NEW YORK, March 14, 2023 (Newswire.com) - Credello: A study by the credit reporting bureau Experian found that Millennials have the lowest average credit score of any previous generation since the beginning of credit scoring. Why is this, and what does that say about the future of lending?

A quick primer on your credit score

Your credit score is a number that lenders use to determine your creditworthiness for loans, credit cards, etc. However, some employers will also check your score, especially if you're applying for a banking or government job.

What is the range of possible scores?

Depending on the reporting bureau (there are three: Experian, Equifax, and Transunion), your score could range anywhere from 300 - 850, with 850 being the best score.

When does your credit score update?

Your credit score is typically updated monthly, but there's no set date, as each lender reports on different days.

What factors determine your credit score?

• The number of on-time payments you've made
• Your credit utilization ratio
• The types of lending products you have (loans, credit cards, etc.)
• The number of times you've applied to borrow money in the past three years
• The average age of your credit

Why do Millennials have the worst credit scores?

Experian found that the average credit score for age groups goes like this:

• Baby Boomers - 709
• Gen X - 650
• Millennials - 625

(Gen Z was not a part of the survey)

There are a few reasons why Millennials may be having such a hard time getting higher scores:

• They've dealt with two major economic downturns in their prime earning years
• Schools not prioritizing financial education
• Unstable work options causing fluctuations in income
• Increases in the cost of education leading to more student loan debt than before
• Inability to invest in appreciating assets (real estate, retirement, etc.) due to rising costs
• Wages not rising in line with prices and inflation

Interestingly, one consideration few manage to consider is that all of these factors are making Gen Y less willing to take the risk of borrowing money. Since their aversion to debt causes them to apply for fewer loans and credit cards, their mix of lending products is lower, lowering their credit scores.

What should the younger generations do to improve their scores?

Now that Millennials are the majority of the workforce, things are slowly changing. New lending options, started by Millennials, are coming into the mix and making reliance on the traditional credit score less of a contributing factor for borrowing money. The credit bureaus are also changing their scoring models to account for current market conditions and the hardships many face today, including removing medical debt as a factor and including "buy now, pay later" options in your credit mix.

However, that doesn't mean Generations Y and Z should disengage from building their credit and improving their finances. The emphasis for those in these age groups should be on saving more money to help them weather rocky economic conditions and less on increasing their debt loads. As the report from Experian shows, Gen Y seems to be right on pace with this, meaning that it may end up being more on the reporting agencies to adjust their factoring methods than on Millennials trying to fit into an economic model that isn't realistic for them.

The bottom line

While Millennials may have the lowest average credit scores, that doesn't mean they're doomed. Instead, it seems that the continuing lowering of scores for each generation shows that traditional scoring factors aren't in line with the reality of today's economy and that credit bureaus may need to adjust their methods instead of waiting for Millennials and Gen Z to adjust theirs.

About Credello

Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence.

Credello believes that finding the right financial product should be as easy and interactive as online shopping and we are on a mission to make that possible. For more information, please visit https://www.credello.com. 

Contact Information:
Keyonda Goosby
Public Relations Specialist
[email protected]
(201) 633-2125


Original Source: Why Millennials Have the Worst Credit Scores and How They Can Raise It