Borrowers with older student loans, specifically Federal Family Education Loans (FFEL) or Perkins Loans, need to consolidate their student loans by April 30, 2024 in order to be eligible of the one-time Payment Count Adjustment.

This initiative is set to occur this summer, offering a lifeline to borrowers seeking either complete cancellation of their student loans or substantial credit toward such cancellation.

The Department has outlined specific steps for borrowers of certain federally managed loans, including Commercially held FFEL, Parent PLUS loans, Perkins loans, and Health Education Assistance Loan (HEAL) Program loans, to consolidate them. 

This consolidation is crucial as it makes the newly formed Direct Consolidation Loan eligible for the adjustment.

One-Time Payment Count Update

The one-time payment count update aims to give borrowers credit for payments made since July 1, 1994, including certain periods of deferment, economic hardship, and forbearance. 

This adjustment is anticipated to significantly aid borrowers in meeting the cancellation criteria typically associated with Income Driven Repayment (IDR) plans. 

Under IDR plans, federal student loans can be canceled after 10, 20, or 25 years of qualifying payments, depending on the specific plan.

Furthermore, for those pursuing Public Service Loan Forgiveness (PSLF), the adjustment will count additional payment periods towards the program's 10-year payment requirement, provided other eligibility criteria are met.

There are currently 8 million student loan borrowers that have old FFEL loans that may be eligible for this program. While not all will qualify for loan forgiveness, it has the potential to help a significant number get closer to the loan forgiveness they were promised when they originally enrolled in these programs. 

Other Benefits

Even if your loan is not forgiven under the one-time adjustment, consolidating your loan into a new Direct Consolidation Loan may also allow you to take advantage of the new repayment plan Saving On A Valuable Education (SAVE). This program will allow you to start paying just 5% of your discretionary income, starting July 1, 2024. 

This has the potential to save a significant amount of money for borrowers.

For borrowers in default, consolidating your loan will also allow you to take advantage of the Fresh Start program to get back on track with your student loan. If you meet the requirements, the default will be removed from your credit report.

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Upright is a fintech that gives accredited investors the opportunity to invest in individual and pooled fund real estate offerings. 

While a few crowdfunded real estate platforms have made it possible to get real estate loans online, the hard money market remains underserved.

Upright is a small but growing startup that is creating a more efficient market for hard money loans. It matches borrowers with high-risk projects and investors who want handsome profits along with exposure to real estate. Here’s how Upright works.

What Is Upright?

Upright is a real estate fintech company that helps accredited investors issue real estate loans to borrowers who are unable to secure funding through traditional banks.

Upright uses investor money to issue individual hard-money loans (loans secured by real property), a pre-funding note fund (a line of credit that Upright uses), or a fund that manages short and medium-term loans. You can invest through Upright as an individual, jointly, as a company, trust, or under an SDIRA.

Upright was founded in 2014 after realizing that the capital markets for real estate projects are slow and inefficient. By focusing on hard-money lending, Upright is creating a more efficient market for risky but potentially profitable real estate loans. Upright offers a unique type of alternative investment that can add diversity to your investment portfolio.

What Does It Offer?

At this time, Upright has three primary offerings for investors. You can invest in any one or all three.

Borrower Dependent Notes

Upright’s original offering is borrower-dependent notes. These are short-term, hard money loans that go to real estate investors seeking funding for three to 24 months. Most of these loans go to investors who require funding for new construction or home rehab projects. As the investor, it’s up to you to consider the fundamentals of each deal. 

According to Upright, 99% of all principal invested has been returned to investors, along with an average return of 10.8% annually. However, each note that you invest in will perform differently, and each loan has a $5,000 minimum. That means you may need a multi-six-figure portfolio of loans to create a fully-diversified portfolio.

Pre-Funding Note Fund

As an alternative to individual notes, you can invest in Upright’s line of credit. Upright uses the Pre-Funding Note Fund as a line of credit to underwrite every single one of its loans. As an investor, you can choose from fixed terms ranging from 3 to 12 months with a low minimum investment of $1,000. Upright advertises an average of 10% returns, but the actual returns depend on the APR advertised at the time of investment. The current advertised rate is 10.5%.

This Pre-Funding Note Fund appears to be very similar to a certificate of deposit (CD) since it pays out set interest rates. But don’t be mistaken, this is still a risky investment despite Upright’s strong record of principal repayment.

Horizon Residential Income Fund

The Horizon Residential Income Fund is a privately held REIT that invests in short and medium real estate loans. It has a one-year lock-up period where you cannot request a return of funds. After that, you may request a return of funds, and the funds will typically be distributed within 90 days. Investors in this fund receive an 8% preferred return. If the fund returns more than 8%, the additional profits are split 80% to investors and 20% to the fund managers.

Are There Any Fees?

There are no investor fees associated with the Borrower Dependent Notes or the Pre-Funding Note Fund. All fees associated with these are paid by the borrower rather than the investor.

The Horizon Residential Income Fund has a fee structure that mimics a typical hedge fund. It charges a 1% annual management fee no matter the fund’s performance. Each year, investors receive a “preferred return” of 8%. Once the preferred return is paid, any additional profits are split with 20% going to the fund manager and 80% going to investors. 

How Does Upright Compare?

Upright is not a typical crowdfunded real estate platform. Instead of offering direct exposure to real estate, it allows investors to invest in real estate debt.

Concreit is another platform that focuses on real estate loans, but it has both short and long-term offerings. Concreit also has more liquidity options and is open to all investors instead of just accredited investors.

Like Concreit, Fundrise is a popular crowdfunded real estate platform open to non-accredited and accredited investors. You can start investing in a taxable private real estate investment trust, called an eREIT, for as little as $10. Other investment opportunities include its Goal-Based Portfolios, private equity investing, and most recently, venture capital funds.

Overall, Upright has an impressive set of offerings with proven track records of returns. It is a platform that may be right for accredited investors who want to add a high-returning debt product to their investment portfolio.

How Do I Open An Upright Account?

To get started, select the Sign Up button in the upper right corner of the Upright website. Before you can create an online account, you need to confirm your accreditation status. You’ll also provide your full name, email address, and phone number.

At this point, you’ll get an email with a temporary password which you can use to log in to the Upright platform. Once you’re on the platform you can read the Private Placement Memorandums, browse offerings, and more.

Before you can start to invest, you need to verify your identity which includes adding your name, Social Security Number, Date of Birth, and US-based address. Then you’ll need to agree to the site terms and connect your bank account. After that, you can select investments and move forward with funding them.

Is It Safe And Secure?

From a technology perspective, Upright uses best practices including multi-factor authentication, verifying your identity before you connect bank accounts, and using encryption and safe money transfers. It is great to see an alternative investment company that takes digital security seriously. While there are always risks of identity theft, Upright’s multiple layers of digital security are best in class.

On the investment side, Upright’s investments shouldn't be considered “safe.” The loans it offers are rigorously considered, but hard money loans are generally risky. Your investment is not guaranteed and may lose value if one or more projects fail. 

How Do I Contact Upright?

Upright is headquartered at 1300 E 9th Street, Suite 800, Cleveland, Ohio. You can email the team at info@upright.us or by calling 646-895-6090. If you have investment-specific questions you may want to email invest@upright.us.

Is It Worth It?

While it’s exciting to see a fintech company like Upright working in the hard money lending space, it has not altered the fundamentals of hard money lending. Hard money lending is a high-risk, high-reward kind of space. You could lose every dollar you put in, or you may face long delays in getting your money out. 

On the other hand, you could see double-digit growth in investments. Accredited investors who add some of Upright’s offerings to increase the diversity of their portfolio may enjoy excellent returns with volatility that they can handle. This is a great way to add passive real estate income to a well-diversified portfolio.

Check out Upright here >>

Upright Features

Some companies treat their shareholders like actual owners, offering discounts and rewards on common products and services. 

A shareholder is someone who holds one or more shares of a public or private corporation.

Most shareholder perks involve sharing dividends, which can be a good indicator of a company’s financial well-being. In recent decades, dividend investing has become a popular investment strategy – and can be a steady additional source of income for many – but dividends aren’t guaranteed

Companies Currently Offering Perks And Rewards

While shareholder perks aren't what they once were, most large companies still have something to offer their shareholders.

You can typically find a list of shareholder perks in the investor information section of a company’s website; however, we've compiled the following list of 10 companies currently offering shareholder perks, discounts, and rewards for being a partial owner. 

3M (MMM)

3M, shortened from the original name Minnesota Mining and Manufacturing Company, is a technology company that manufactures industrial, safety, and consumer products.

The company offers some shareholders gift boxes during the holidays (for a small fee), which are known to include a variety of 3M products sold at a fraction of their original cost.

However, gift boxes can’t be requested; you have to receive a brochure with a promo code, then enter the promo code online.

Amazon.com, Inc. (AMZN)

You’re likely already familiar with Amazon – the world's largest online retailer. Amazon shareholders can redeem a $5 Amazon gift card on orders over $20 when at least 10 shares are owned.

At the time of writing in March 2024, 10 shares would set you back $1,789.30.

Berkshire Hathaway (BRK.B)

Berkshire Hathaway is a multinational conglomerate holding company run by Warren Buffett. The company owns more than 60 private and public companies, like Apple, making it one of the largest companies in the world.

Berkshire Hathaway shareholders convene annually in Omaha, Nebraska for a weekend-long shareholder meeting where they can access special discounts on items like specialty candy, furniture, and other items only available at the convention.

Carnival Corporation (CCL)

Carnival Cruise Line, a subsidiary of Carnival Corporation, is an international cruise line best known for its Caribbean cruises. 

It’s one of few companies that maintains a variety of shareholder perks and rewards, including onboard credits for the following:

• $250 USD per stateroom when sailing 14 days or more.
• $100 USD per stateroom when sailing seven to 13 days.
• $50 USD per stateroom when sailing six days or less.

These benefits are currently in effect and will remain so until December 31, 2024. However, they are only available to shareholders with a minimum of 100 shares of Carnival Corporation or Carnival plc. At $17.08 a share, 100 shares would cost you $1,708.

Coca-Cola (KO)

We all know and love the Coca-Cola brand, which is the largest beverage manufacturer and distributer in the world.

Shareholders receive dividend payouts quarterly and may also receive discounts on certain products, merchandise, and access to shareholder events.

Ford Motor Company (F)

Ford previously offered one of the more note-worthy shareholder perks: discounts on select new Ford car models for those who hold at least 100 shares in the company. However, that discount program ended in 2022.

Now, as a special thanks to Ford shareholders, the Investor Relations Department offers a “Friends and Family” Special Vehicle Pricing Privilege (also referred to as the X-Plan). To qualify, you:

• Must currently own common stock shares of Ford.
• Must own a minimum of 100 shares of company stock.
• Need to have held the minimum shares for the past six months or more.

If you meet this criteria, you can contact the Investor Relations team at 1-800-555-5259 or read more on Ford’s investor page.

Intercontinental Hotels Group (IHG)

IHG is a global hospitality company that owns several well-known hospitality brands, including Regent, Hotel Indigo, Crowne Plaza, Holiday Inn, and Avid.

Through a private website with controlled access, IGH shareholders can book hotel stays for discounted prices. 

Norwegian Cruise Lines (NCLH)

Known for its fun, laid-back cruising ambiance, Norwegian Cruise Lines is another leading cruise company that offers trips across the globe. As a shareholder, you receive discounts on the Norwegian Cruise Line, as well as Oceania Cruises and Regent Seven Seas Cruises brands.
Shareholder benefits include:

• $250 USD onboard credit per stateroom when sailing 15 days or more.
• $100 USD onboard credit per stateroom when sailing seven to 14 days.
• $50 USD onboard credit per stateroom when sailing six days or less.

These benefits are only available to investors with a minimum of 100 shares of Norwegian Cruise Line Holdings Ltd at the time of sailing. At $20.70 a share, 100 shares would set you back $2,070.

Royal Caribbean Cruise Lines (RCL)

Similarly, Royal Caribbean Group is a global cruise company with a fleet of 60 ships that travel to over 800 destinations worldwide. 

If you own at least 100 shares of Royal Caribbean Group at the time of sailing, your benefits as of 2024 include:

• $1,000 USD onboard credit per stateroom on a World Cruise.
• $250 USD onboard credit per stateroom when sailing 14 nights or more.
• $100 USD onboard credit per stateroom when sailing seven to 13 nights.
• $50 USD onboard credit per stateroom when sailing five nights or less.

At $136.03 a share, 100 shares would cost you $13,603, not an insignificant sum. 

Willamette Valley Vineyards (WVVI)

If you enjoy a good bottle of wine, this one’s for you. Willamette Valley Vineyards is a small, publicly-traded company that sustainably produces a variety of wines from five vineyards across the state of Oregon.

It's one of a few companies to offer a a variety of shareholder benefits, listed on its Ownership and Benefits page. Perks include:

• A 25% discount on bottle purchases
• Priority access to limited-production wines
• Complimentary wine tastings for you and three guests once a month
• Invitations to owner-exclusive events and experiences

Note that you must own at least 300 shares of Preferred or Common Stock in order to claim Ownership status at Willamette Valley Vineyards. At $5.16 a share, 300 shares would cost $1,548 total.

*Note: All share cost estimates were recorded at the time the article was written.

Are Shareholders Perks Worth It?

The value of shareholder perks depends on your individual preferences and reasons for investing. Dividends are, of course, more readily available and, depending on the success of the company, offer a more consistent return on your investment.

While extra rewards may be tempting, be sure to do your own research on any company you’re considering investing in. That includes paying close attention to the company’s strengths, weaknesses, opportunities, and threats before purchasing.

Popular companies not included in the list above that pay out quarterly or annual dividends include AT&T, Costco, Microsoft, Starbucks, Verizon Communications, and just about any other large cap stock. Why? They’re typically more mature investments with less volatility, which means they’re able to distribute more profits to their shareholders.

On the other hand, if you travel frequently and are likely to use any of the hotels owned by IHG, you may benefit by growing into shareholder status with them. Likewise, if you’re a fan of cruises and take even one each year, you could absolutely save money by being a shareholder.

Remember that shareholder rewards, benefits, discounts, or other perks should never be the sole reason you choose to invest in a company. Always check the current stock price before you place a trade to purchase shares of a company.

And, if you’re completely new to investing, here’s our advice on finding the best way to get started.

Looking for high school graduation gift ideas?

With graduation season right around the corner, you might be wondering what to get that friend or family member who is graduating from high school.

Given the occasion, the best gifts can be things that help them get started with their new adult life while setting them up for success in college.

To help you in your search, we've compiled a list of the best gifts to get a high school graduate to prepare them for college.

College Gear Gift Ideas

Having the right supplies can make navigating the freshman year of college much easier. This can range from a tech gadget to a hoodie representing the student's school. The cost of these types of gifts can vary with electronics tending to be on the more expensive side. Fortunately, college gear can align with any budget.

Backpack

Unlike high school, college students won’t have dedicated lockers to store their books in. When there isn’t enough time between classes, having a quality backpack can make it easier for them to lug all of their gear around with them. Look for a backpack that has good back support and a variety of pockets to help them stay organized. 

Laptop

Many students need to upgrade their computer when they arrive at college. MacBooks are the most popular laptops on college campuses due to their design and versatility. Whether they need to edit videos or write a research paper, students will find that a MacBook meets their needs. While these usually come with a hefty price tag, they can be worth the investment, especially if it lasts them well beyond their college years.

E-Ink Notebook

Studies show that writing things down by hand helps students retain more information than typing it down on a laptop. An e-ink notebook like reMarkable helps students do just that. It mimics the experience of writing with a pen and paper but gives students the ability to digitally search and organize information. This little gadget can be a good gift to help them excel in the classroom.

Noise Canceling Headphones

There’s nothing worse than getting distracted while trying to complete an assignment. Noise canceling headphones like Bose or Sony can be a great gift to give a high school graduate because this might not be something that’s at the top of their wish list. Focus is key so being able to tune out distractions will help give them an edge in their studies.

Dorm Essentials

Headphones and laptops are great, but incoming freshmen also need to furnish their dorm room. Bedding, a microwave, and a minifridge are essentials while lighting and a comfy chair can help make their new living space feel more like home.

Swag

Starting college off on the right foot means looking the part. You can give a high school graduate a hoodie, sweater, or jewelry from the school they’ll be attending in the fall. Check out the school’s bookstore to get official gear.

Gifts That Support Their Goals

Another great gift idea is something that helps the student work towards a goal. This can be academic or personal, like a fitness or financial goal. This kind of gift can help reinforce the importance of goal setting while giving them the tools to do so.

Subscriptions To Productivity Tools

Today’s college students rely heavily on subscription-based platforms to organize their notes and access knowledge-based services like tutoring. Whether it’s a tool like Notion or a study platform like Varsity Tutors, gifting access to their favorite paid resources can help set up a graduating high schooler for long-term success.

Recreational Memberships

Going to class is only part of the college experience. Being a well-rounded student is important too. Ensuring a student has the ability to explore recreational activities can be a good gift to give high school graduates. Gym memberships, class packs, and private lessons can all be good ideas for gifts you can give that allow them to get out of their dorm and have some fun.

Tutoring

Most high schoolers will find college to be much more academically demanding than what they're used to. The first year can be especially difficult as freshmen must navigate new friend groups while adjusting to being away from home. Gifting them access to a tutor – whether they’re on campus or online – can provide the accountability and support they need to avoid falling behind.

Financial Success

When teenagers graduate from high school, they aren't simply entering the next phase of their academic careers, they're becoming adults. With this comes new financial freedom – and responsibilities – that they may not be well-equipped to handle. Helping them start their adult lives from a healthy financial position can be a great gift to offer. 

Consider opening a certificate of deposit or purchase Treasury bonds that can offer some passive income throughout their college career. You can also purchase assets such as gold or dividend-paying stocks that they can hold onto well into adulthood.

Best Experience Gifts

Graduating high school in and of itself is a major accomplishment. It can be celebrated by giving students the opportunity to create new memories that they’ll cherish for the rest of their lives.

Live Music

College can be an incredibly stressful time for students. Finding healthy ways to manage stress is important. Live music is a way to do just that. Gifting concert tickets to see their favorite band or musician perform can give them something significant to look forward to. You can also consider getting them tickets to see local musicians perform at a venue near campus. This can help them explore their new city and the music culture that’s there.

Park Pass

Another great way to alleviate stress is by getting outside. For $80, the Annual Pass gets you access to any national park managed by the National Park Service. This can be a great gift for a formative summer road trip hiking around the United States.

Travel Points

Did you know that a number of travel rewards credit cards and points programs allow you to transfer points to someone else? Rather than giving a monetary gift, you can offer the gift of travel instead. This can be beneficial if a student is planning on studying abroad at some point during their college career.

Final Thoughts

There you have it, our list of gift ideas for high school grads. We've covered everything from college gear to goal-related gifts to gifts of experience. Can you think of any gift ideas we've missed? If so, please feel free to share your best ideas with us in the comments below. 

It can be tough to know if you're getting a good savings account interest rate. Today, the best savings accounts are paying out 5% or more. But these high rates may not last.

Currently, the FDIC says the average savings account interest rate is just 0.47% APY. 

Technically, if you're above the national average of 0.47%, you're getting a good savings account rate. But let's be honest: that's still very low compared to the best rates.

Our rule of thumb is that you should be within 10% of the top rates to consider yourself having a "good" savings account interest rate. Since banks change their rates often, it can be hard to always be the top (and you don't want to move banks every month).

Your goal, instead, should simply be to find a bank that is consistently at the top of the interest rate list - through good times and bad times.

How To Find A Good Savings Account Interest Rate

How do you find this magical bank that always has a good savings account interest rate? Well, lucky for you, our team here consistently reviews the top banks and we put them in our list here: Best High-Interest Savings Accounts.

These banks offer the top interest rates right now - and we order our list in best rate order. No gimmicks like you see on some websites (example in the screenshot below).

On those lists, you'll find some lower rates up at the top because they're sponsored or big advertisers. Sometimes these banks even pay companies to be listed in the top spot. These big banks and companies would rather spend one-time marketing dollars, than to pay you higher interest rates on your money. Keep that in mind - its how they afford to name stadiums!

See how this list stacks up:

You can compare that list to ours, and see that we do have some of their same banks - just in the proper order. We may be missing some banks, but we strive to keep it ranked by the highest rates, from banks we know and trust:

Why does this matter? Every 1% difference in interest on $10,000 is $100 that you're not getting. That can really add up over time.

Check out our list of best savings accounts here >>

What To Watch Out For

Some banks and investment firms have other gimmicks when offering high interest rates on their savings. For example, some banks have minimum requirements to earn the highest rate, or even worse, maximum dollar amounts to earn the highest rates. 

For example, most of the high-interest checking accounts cap the account balance that allows you to earn the high interest. A $10,000 cap is very common.

Other products may charge a monthly service fee to be a member in order to earn the highest interest rate. For example, Robinhood offers a great cash savings program, but you must be a member of Robinhood Gold, which costs $5/mo. It might not sound like much - but when you realize that you're paying that monthly fee AND not even getting the highest interest rate, that doesn't make sense.

People Also Ask

Which bank gives 7% interest on a savings account?

Currently, there are no banks that earn 7% interest on their savings account.

Where can I get 5% interest on my savings account?

There are over a dozen banks that currently offer 5% interest or more on their savings accounts. Check out this list of 5% savings accounts here.

What is a good amount of interest on a savings account?

A "good" amount of interest is the highest rate you can earn without paying fees or dealing with account minimums.

What is a really good savings rate?

Right now, the best savings account rates are above 5.25%.

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