Fintech PR
Survey Finds 6 out of 10 Families’ Budgets Affected by the COVID-19 Pandemic, Including Plans to Fund College
The COVID-19 pandemic has created an unpredictable financial environment for many families. For 6 out of 10, that means changes to their household budget, according to the latest College Ave Student Loans survey of 1,141 parents of college students conducted by Barnes & Noble College InsightsSM. Despite the unexpected impacts, the majority (72%) of parents who plan to help pay for their child’s education are still confident about their overall payment plan.
College Ave surveyed parents in January and again this June with personal finance site HerMoney.com to get a snapshot of how the pandemic has affected college financing plans. The survey found that while the approach to paying for college has changed since the beginning of the year, families still deeply value a higher education degree.
Impact of the pandemic on family finances
More than half of families (56%) said the pandemic has negatively affected their finances. Of those, 58% have had to dip into their savings more than expected, 43% delayed big spending purchases and 29% have relied more on credit cards. Many families have faced job uncertainty – 25% report a parent in the house has been furloughed, lost a job (14%) or has had to close a business temporarily or permanently (12%). Of those who will need to borrow more than previously planned as a result of the pandemic, nearly 3 in 4 (74%) said they will need to borrow at least $5,000 or more this year.
Changes in how families plan to cover college costs
The latest survey found the overwhelming majority of parents (92%) agree with the statement that a college degree is important for their child. Perhaps that’s why in June, and during difficult financial times, more parents say they are willing to help their child pay for college (95% vs. 83% in January) and invest in their child’s degree.
In the five-month timeframe between the surveys, the June survey also found the approach to paying for college changed. The recent survey found less families are relying on parental income, savings, and 529 accounts, and instead, are leaning more on grants and scholarships, student loans and the child pitching in by working.
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Changes in How Families Plan to Pay for College: January 2020 vs. June 2020 
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|
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January 2020 |
June 2020 |
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70% regular income and savings |
60% regular income and savings (-10% change) |
|
59% grants and scholarships |
64% grants and scholarships (+5% change) |
|
45% 529 account |
38% 529 account (-7% change) |
|
42% student loans |
53% student loans (+11% change) |
|
28% child will work |
43% child will work (+15% change) |
|
18% parent loan |
21% parent loan (+3% change) |
Less common financial strategies used by families include money from a retirement account, personal loans, and credit cards. Overall, the survey highlights that there is no “one-size-fits-all” approach to financing a college education.
“During these unprecedented times, families who have children headed to college will need to come together and have open and honest conversations about the road ahead. Parents must keep in mind that while there are loans for college, there are no loans available for retirement. Anything they’re able to offer their child toward the cost of college will be welcome,” said Jean Chatzky, CEO of HerMoney. “Also, students must understand that working through college may be their best path forward, and they should leave no stone unturned when it comes to searching for and applying for scholarships and grants. For parents who might be feeling guilty about not contributing more to their child’s education, don’t. Understand that it’s okay for your child to work and take out an appropriate amount of loans, and you can help them guide them through these important first steps into adulthood.”
Tips for how to cover college costs during uncertain times include:
- If you haven’t experienced a change in income, look to see where you might be able to make cuts to your budget on a monthly basis, and put that money towards your college fund, or college expenses.
- If circumstances have dictated that you won’t be able to continue to save for college or contribute to college costs, start looking into student jobs that might appeal to your child, student loans, as well as grants and scholarships. Doing all this as early as possible will help erase some question marks, and make everyone feel more confident about the future.
- In the years to come, more jobs than ever will be able to be done remotely, and to make ends meet, both students and parents may want to consider a remote side-gig, doing things like customer service, graphic design, social media work, and more. Even an additional $100 a month can be a welcome addition to any budget, and can mean a reduction in the amount of student loans taken out.
- While some sticker prices for college and college activities are set in stone, some things can be negotiated, and in many cases, cheaper prices are available. For example, students who receive a scholarship offer for one year of tuition can request that their offer is extended, and in many cases, online textbooks are cheaper than their hardbound counterparts. There are myriad ways to keep it frugal — you just have to keep an eye out, and never be afraid to ask.
“The pandemic has created financial uncertainty for many families,” said Joe DePaulo, Co-Founder and CEO of College Ave Student Loans. “However, the survey also points to the resilience of families and their determination. Even during difficult times, families believe in – and prioritize – finding a path to a college degree as they know a higher education can provide a better future for their children.”
Fintech PR
Sustainable Infrastructure Holding Company (“SISCO”) Q3FY24 revenue (excluding accounting construction revenue) increases by 23.8% to 341.8 million
- Revenue grew by 23.8% compared to previous year
- Gross profit of SAR 179.8 million, a 21.7% increase compared to Q3FY23
- Adjusted EBITDA rose 29.5% to SAR 210.2 million
JEDDAH, Saudi Arabia, Nov. 16, 2024 /PRNewswire/ — Sustainable Infrastructure Holding Company (“SISCO”, “TADAWUL: 2190”), Saudi Arabia’s leading strategic investor in Ports & Logistics and Water Solutions has announced its financial results for the quarter ended 30 September 2024.
Revenues for the third quarter of 2024, excluding accounting construction revenue, grew by 23.8% compared to Q3FY23 to reach SAR 341.8 million. On a quarter-to-quarter basis, revenues grew by 13.0% compared to Q2FY24.
The third-quarter gross profit of SAR 179.8 million represents 14.7% quarter-on-quarter growth and 21.7% growth compared to Q3FY23. The gross profit margin for Q3FY24 was down 0.9% year-on-year, due to increased depreciation and direct costs, but was up 0.8% quarter-on-quarter, in line with expectations. Year-to-date saw gross profits increase by 13.8% to SAR 469.5 million.
Adjusted EBITDA growth rose 29.5% to SAR 210.2 million compared to Q3FY23, aligning SISCO with strategic goals. Quarter-on-quarter growth was 20.8%, with a year-to-date increase of 17.7% to SAR 543.8 million.
SISCO reports a strong recovery in the Red Sea Gateway Terminal from subdued Q3FY23 Port segment results due to the Red Sea situation. Port volume reached 828,868 TEUs in Q3FY24, returning to levels similar to Q4FY23.
Commenting on the results: Eng. Khalid Suleimani, Group CEO, SISCO said:
“I am pleased to report that SISCO has continued to demonstrate strong growth and operational performance in Q3FY24, with revenues improving by 23.8% compared to Q3FY23. Our Ports segment, which remains a key growth driver, saw a significant increase, leading to robust results despite the Red Sea challenges.
Net income remains strong, despite the one-off payment of SAR 25 million to Zakat. Another highlight of the quarter is the impressive recovery in the Red Sea Gateway Terminal, highlighting it’s resilience.
We are also excited to announce the Multi-Purpose Terminals (MPT) concession, which will allow us to expand operations across all non-containerised port facilities in the Red Sea Gateway Terminal. This strategic initiative positions SISCO to capture further growth opportunities domestically and internationally.
Looking ahead, we remain committed to executing our five-year strategy to double revenues by 2026 and continue delivering long-term value to our shareholders.”
View original content:https://www.prnewswire.co.uk/news-releases/sustainable-infrastructure-holding-company-sisco-q3fy24-revenue-excluding-accounting-construction-revenue-increases-by-23-8-to-341-8-million-302307352.html
DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-crypto-titans-november-arena-boasts-55-000-usdt-in-rewards-302307028.html
Fintech PR
Healthcare leaders gather at House of Commons to discuss productivity-boosting tech with MyStaff app
LONDON, Nov. 15, 2024 /PRNewswire/ — Healthcare leaders from 16 NHS trusts gathered at the House of Commons this week to see how Mid and South Essex NHS Foundation Trust is using a groundbreaking new app that transforms staff access to information vital to their patients’ care.
The MyStaff app uses AI and automation to simplify the management of critical policies and procedures, reducing the time staff spend searching for information from almost 10 minutes to under 30 seconds. Over 12,000 of the Trust’s staff have signed up, and around 1,000 are using the app daily.
With £2bn pledged to help digitise the NHS and bring down waiting lists, such time-saving tech is high on healthcare’s agenda. Trust Chief Executive Matthew Hopkins introduced the session, which was hosted by David Burton-Sampson, MP for Southend West and Leigh, and saw technology strategists and users share their experiences of digitising vital healthcare operations.
Matthew said: “Our Trust is working to make the best use of digital technologies wherever this can help staff to provide the best possible care to our patients. MyStaff app is a versatile and easy-to-use tool that improves our governance processes and makes it easy for staff to access the vital clinical information they need when treating patients.”
The Trust developed MyStaff app with digital innovators Diligram, who have created a digital governance solution that helps ensure staff use the latest policies and guidance when delivering patient care. Document compliance rates have grown from 60% to 98%, whilst projections indicate the app could release 55,000 hours’ worth of staff capacity over 3 years, worth almost £4m in staff costs and giving staff more time on patient-facing care.
Diligram CEO Leslie Golding said: “We have worked closely with the Trust on developing groundbreaking technology that supports our healthcare heroes by simplifying access to essential information. We’re proud to be part of this brilliant example of positive digital change.”
Editor’s notes
- Contact: Rob Benson, 07815098560, [email protected]
- Further images, interviews, site visits available
About MyStaff app
The MyStaff app from digital transformation company Diligram is time-saving tech that offers a mobile-first digital corporate governance solution for healthcare providers.
Web: mystaffapp.io
About Mid and South Essex NHS Foundation Trust
MSE is one of the largest Trusts in the country, serving around 1.2million people. Our values are about delivering excellent, compassionate and respectful care.
Web: mse.nhs.uk
Photo – https://mma.prnewswire.com/media/2558941/MSE_CEO_Matthew_Hopkins_MyStaff_app.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/healthcare-leaders-gather-at-house-of-commons-to-discuss-productivity-boosting-tech-with-mystaff-app-302307051.html
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