At $1.1 trillion, student debt eclipses all other forms of household debt, except for home mortgages. It's also the only kind of consumer debt that has increased since the onset of the financial crisis, according to the New York Fed. Officials in Washington are worried that overly indebted student borrowers are unable to save enough to purchase a home, take out loans for new cars, start a business or save enough for their retirement.
Policymakers also are worried about the effect that high interest rates on outstanding student debt may have on the broader economy. Congress sets interest rates on federal student loans, with rates fixed on the majority of loans at 6.8 and 7.9 percent
Monday, May 27, 2013
Obama Student Loan Policy Reaping $51 Billion Profit
Sunday, May 26, 2013
Dan Rutherford - Illinois State Treasurer
State of Illinois is holding more than a 100 lost or forgotten military medals in its vaults under the capitol and is trying to return them to the families of veterans.
State Treasurer Dan Rutherford is asking people to take a moment over Memorial Day weekend to see if they recognize the names on a list of veterans whose military honors are held by the state.
Click on the following if you can help: Dan Rutherford - Illinois State Treasurer
Northwest Herald | McHenry County continues to lack affordable housing
By BRETT ROWLAND -
The fair market rent for a two-bedroom apartment in McHenry County was $958 in 2012, according to the Analysis of Impediments to Fair Housing Choice study. That would require earning $38,320 a year – or about $18 an hour – to afford without spending more than the recommended 30 percent of income on housing
….
From 2000 to 2009, the county lost nearly a third of its housing units that cost less than $500 a month. During the same period, the number of units renting for more than $1,000 a month increased by nearly 200 percent, according to the housing study…..
High property taxes and limited space for affordable developments have contributed to the county’s dearth of affordable housing.
The annual median property-tax levy for a home at the county’s median value is nearly $5,000, or 6 percent of median household income, according the study. Only 30 other counties in the country have a higher property tax as percentage of median income, according to the report
Click on the following for more details Northwest Herald | McHenry County continues to lack affordable housing
Taxes go way up and way down in 2 Boone County taxing districts - Rockford, IL - Rockford Register Star
Jennifer Wheeler
Decreased property values have not stopped most of Boone County’s taxing bodies from requesting more money from property owners.
Thirty-five of the 51 taxing bodies – 68 percent – asked for more money than they did last year while just 14 asked for less, according to a Rockford Register Star analysis. Two entities were unchanged.
Here’s a look at two compelling rising and falling tax trends in the county, and the reasons behind those changes.
BELVIDERE TOWNSHIP
Township leaders gave residents a financial break this year by drastically lowering property taxes by more than 15 percent.
BELVIDERE
A 2012 computing error that cost Belvidere leaders hundreds of thousands of dollars in property tax revenue will hit residents’ wallets this year.
The city only received $4.1 million of its $4.3 million levy request last year. Leaders expected to receive the full amount since it was no longer under tax caps.
To make up for the shortfall, officials agreed to levy the lost $202,000 and an additional $140,000 to cover this cycle’s expenses.
Click on the following for all of the details: Taxes go way up and way down in 2 Boone County taxing districts - Rockford, IL - Rockford Register Star
Saturday, May 25, 2013
Boone County’s Letter to Tollway Authority to “keep the bridges”
Is the letter strong enough? Does it reflect the sentiment of the Board or of the people of Spring Township? The board resolution was passed on May 15 should the letter been sent sooner?
The Farm Bureau appears to have a much stronger letter:
The Fire District’s letter is available at: http://www.boonecountywatchdog.blogspot.com/2013/05/closing-johnson-road-bridge-over-i-90.html
Schedule for Belvidere’s Memorial Day events | Belvidere Daily Republican
BOONE COUNTY – The annual Memorial Day Parade will be 9:30 a.m. Monday, May 27.
Among those participating will be VFW Post 1461, American Legion Post 77, the Belvidere High School band, the Belvidere North High School band and area Boy Scouts and Girl Scouts….
In case of inclement weather, the ceremonies will be held at 10 a.m.at VFW Post 1461, 1310 W. Lincoln Ave.
County board denies health department request to increase fees | Belvidere Daily Republican
As a point of clarification: a subcommittee chairman usually makes an affirmative motion on any issue coming from his subcommittee even though the subcommittee chairman may vote against the motion. In the absence of Mike Schultz I am the the acting committee chairman.(B Pysson)
Written by Bob Balgemann
The 6-5 vote of denial came during the board’s May 15 meeting after District 3 board member Kenny Freeman made an attempt to postpone the decision. He did so because another District 3 board member, Mike Schultz, who’s also chairman of the health and human services committee, was absent.
Engineering for bridge
Also May 15 the board voted 11-0 with one absent to approve a construction engineering services agreement with Hanson Professional Services for replacement of the Orth Road bridge….
No one is certain if the mussels are under the bridge and it recently was learned the project can’t be bid until the search for the mussels is conducted during the summer.
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