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Investment in your future- Prevent it from turning into Bad Debt
April 29, 2014 By Leave a Comment
How Student Loans Become Bad Debt
Failing to keep this simple equation in mind is how student loans quickly become bad debt. Remember, a student loan is a mortgage on your future earnings . When you buy a house, the collateral for the loan is the house. When you buy a car, the collateral for the loan is the car. If you don’t repay these loans, the lender simply takes the house or car. But when you borrow with student loans, the collateral is your future earnings. If you don’t repay your student loans, the government will garnish your future earnings.
to learn more about student loan debt calculations and how much you should borrow based on what your salary will be, visit the link below.
(Robert Farrington)
That being said it is very important we think into the future, when you will be paying back these loans. That’s right, voluntarily rather than them forcing you to pay the loans back. By setting up your student loans early on a biweekly payment plan that will allow an extra payment a year to go directly to the principle you can have your student loan paid off even earlier and eliminate some of the interest the bank would get back from you. Looking at the example below will show you how using the Biweekly Program that Nationwide Biweekly Administration offers could assist in the payoff.
Student Loan Analysis from Nationwide Biweekly Administration
Ran for a total debt of $29,400 at 4% interest rate.
For your customized analysis call (800)317-1756
Option 1)
Total Debt: $29,400
Interest Rate: 4%
Minimum monthly payment: $75
Pay off in 45 years!
Option 2)
Total Debt: $29,400
Interest Rate: 4%
Minimum Biweekly Payment: $40.45
Pay Off in 39.3 years (saving 69 months and $2,217.77 in interest)
Option 3)
Total Debt: $29,400
Interest Rate: 4%
Minimum Biweekly Payment: $65.45
Pay off in 20.1 years (saving 299 months and $19,195.63 in interest
Nationwide Biweekly Administration, Inc. Successfully Completes SSAE 16 Type II Audit
November 26, 2013 By Leave a Comment
Nationwide Biweekly Administration, Inc. Successfully Completes SSAE 16 Type II Audit
November 18, 2013—Xenia, OH—Nationwide Biweekly Administration, Inc. (“NBA”), one of the nation’s largest and most recognized biweekly program administrators, announced today that it has successfully completed its first SSAE 16 Type II audit. NBA’s compliance with the SSAE 16 audit demonstrates its high level of commitment to solid operating procedures while maintaining the highest level of internal controls.
SSAE 16 is an internationally recognized third-party assurance audit for service providers. SSAE 16 is a new reporting standard for services organizations put forth by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA). As part of the audit, a number of operating controls related to NBA’s internal policies and procedures were examined. These controls include: company wide management systems, policies and procedures, network operations, customer data integrity and security, and computer controls.
“Receiving this important designation from a top auditing firm reaffirms NBA’s commitment to our customers and business partners, said Daniel Lipsky, President, NBA. “Through strict adherence to compliance and internal controls we’re able to provide peace of mind and world-class service to our customers.”
ABOUT NATIONWIDE BIWEEKLY ADMINISTRATION, INC.
Nationwide Biweekly Administration, Inc., located in Xenia, Ohio, provides payment service and processing to the general public through the Interest Minimizer program. Established in 2002, NBA is licensed and bonded and is registered with FinCEN as a money services business.
For more information about NBA, visit http://www.nbabiweekly.com, like the Facebook page at http://www.facebook.com/nationwidebiweekly.
What is Nationwide Biweekly Administrations Biweekly Program?
November 5, 2013 By Leave a Comment
Nationwide Biweekly Administration
Interest Minimizer Overview
(Transcription Below)
You’re about to learn one of the greatest financial secrets of our time. One that you can use to save thousands of dollars in interest charges. Each year, millions of Americans pay billions of dollars in unnecessary interest charges and lose out on growing their home equity much faster. How much money in equity are you losing to interest payments? Chances are it’s a lot more than you realize. For most of us, it’s thousands of dollars every year.
It doesn’t have to be that way. Most of us, we budget wisely, we shop for items on sale, and then we make sure we get a good deal for our hard-earned money. But when it comes to paying interest, most of us are needlessly giving away our money. Actually, losing it and we don’t know it. Fortunately there’s something you can do about it. The secret is the Interest Minimizer Program. A safe, convenient, and proven way to cut tens of thousands of dollars in interest charges off your existing loans including your mortgage, equity lines of credit, auto loans, student loans, and even credit card debt.
With the Interest Minimizer, your monthly payment is decreased to a much smaller bi-weekly amount and automatically debited every two weeks. We’ll conveniently match these debits to your pay schedule. Now, budgeting for a large mortgage payment has become a lot easier. No more checks to write or late fees to worry about. You’ll love how simple and easy it is. In fact, hundreds of thousands of American families are using the Interest Minimizer, saving billions of dollars in interest.
When you see the savings and how much you’ve been spending unnecessarily, you’ll want to sign up for the Interest Minimizer because the plan manages the bi-weekly or weekly schedule for you. Simply, painlessly, and automatically. Calculate your interest savings to see your specific savings. Or to speak with one of our friendly savings analysts, call the number on the screen. In just 10 minutes, we can show you how to stop overpaying interest and start saving money. Call us now.
Nationwide Biweekly Administration Business Tour
November 1, 2013 By Leave a Comment
Take a tour of Nationwide Biweekly Administration, and see why the administrator of Interest Minimizer bi-weekly mortgage program gets an A+ rating from the Better Business Bureau
(Transcription Below)
Welcome to the headquarters of Nationwide Biweekly Administration, an American company based in beautiful Xenia, Ohio. We’re proud to be the nation’s largest privately held bi-weekly payment administrator. As a fully licensed and bonded company registered with FinCEN as a money transmitter, we process billions of dollars in payments to over 5000 financial institutions. In fact, we process millions of transactions for hundreds of thousands of customers just like you.
When you partner with Nationwide Biweekly, you’ll quickly understand why our size, stability, quality, and professionalism have earned us an A+ rating from the Better Business Bureau. When you call to inquire about the benefits of our Interest Minimizer and Advanced Interest Minimizer programs, you are connected with one of our professionally trained savings analysts. They’re skilled at assisting people. And dramatically, reducing interest charges and paying off all kinds of debts faster including mortgages, home equity loans, credit cards, auto loans, student loans, virtually any interest bearing loan.
To ensure that we deliver world class service to you, Nationwide Biweekly hires only the best talent available in our area. That’s why we pay our savings analysts well above industry average which ensures high quality employees and low turnover. This means you will have professional, qualified, and enthusiastic people working on your behalf to save you from wasting money on unnecessary interest charges. Our savings analysts are provided a four-week classroom training program, ongoing mentor training and call monitoring, state of the art computers and software systems, access to our industry leading client management application, proprietary interest minimizer savings analysis software, professionally developed educational customer videos.
After you become a Nationwide Biweekly customer, you are assigned to our courteous and friendly customer service department. We ensure that Nationwide Biweekly has only the best, brightest, and most customer-oriented employees. It’s one of the keys to our success. During our rigorous three-step interview process, applicants are evaluated to ensure they have the aptitude and attitude to assist customers with their financial needs. The results of our commitment to providing high quality customer service have paid off. We randomly surveyed 743 of our customers and asked three important questions. Here are the results.
Was the representative professional and helpful? 99.3% of those surveyed answered yes. Are you satisfied with the benefits of the bi-weekly program? 97.3% answered yes. Would you recommend our company to someone else? 96.4% said, yes they’d recommend us. That’s quite a testament to our dedicated employees and their desire to deliver high levels of customer satisfaction and it means you can expect to receive this same level of customer service, too. We maintain this standard of excellence by having all employees undergo a rigorous training curriculum.
Once hired, new employees participate in a comprehensive 60-day orientation with the first 30 days spent in training classes being trained, mentored, and tested by our corporate trainers. As part of our ongoing training efforts, Nationwide Biweekly supervisors call our analysts and customer service representatives posing as actual customers to give them real world experience. We record the calls and play them back in one-on-one coaching sessions. That way, we ensure that not only are our representatives friendly, courteous, and professional, they are also knowledgeable and skilled at answering your questions.
Our employees genuinely enjoy working at Nationwide Biweekly and working with each other. Our facilities are designed to provide a safe, secure, and fun place to work. The bottom line is happy employees make better employees, and that benefits everyone. Thank you for taking a tour of Nationwide Biweekly, an American company offering innovative money saving services to hardworking people just like you. From our dedicated professional staff to our world-class customer service, industry leading tools and rigorous training, we are on a mission to help millions save billions.
Nationwide Biweekly Administration Earns BBB Accreditation
July 16, 2013 By Leave a Comment
Nationwide Biweekly Administration Is Committed to BBB’s Standards of Trust
This week, Nationwide Biweekly Administration announced its recent Accreditation by your Better Business Bureau of Dayton/Miami Valley, Inc. As a BBB Accredited Business, Nationwide Biweekly Administration is dedicated to promoting trust in the marketplace. Its Accreditation will help people understand who the organization is and the core values it believes in. You can check out Nationwide Biweekly Administration’s BBB reliability report by visiting www.bbb.org or calling (937) 222-5825 or (800) 776-5301.
John North, BBB president and CEO, says, “BBB Accreditation is an honor. It’s voluntary and Accredited Businesses must meet and maintain your BBB’s Standards of Trust, a comprehensive set of policies, procedures and best practices representing trustworthiness in the marketplace. The standards call for building trust, embodying integrity, advertising honestly and telling the truth, being transparent, honoring promises, being responsive and safeguarding privacy.”
He continues, “Businesses that meet your BBB’s high standards are invited to apply for Accreditation. Applicants undergo a review process and ultimate approval by your BBB’s Board of Directors. According to Princeton Research, seven in ten consumers say they are more likely to buy from a company designated as a BBB Accredited Business.”
“We are proud to have met your BBB’s high standards and we’re excited to be part of an organization that exists so consumers and businesses alike have an unbiased source to guide them on matters of trust,” said Daniel Lipsky ”We value building trust with our customers and our Accreditation gives our customers confidence in our commitment to maintaining high ethical standards of conduct.”
Daniel Lipsky continues, “Our Accreditation signifies our commitment to customer service, reliability and trust. For any organization to excel in today’s environment, it’s critical it be fully committed to excellence. Our acknowledgement by your BBB aligns with and supports our efforts of providing superior service in the marketplace.”
About Nationwide Biweekly Administration
Nationwide Biweekly Administration is one of the nation’s largest and most recognized administrators for biweekly programs. Through their Interest Minimizer Program, NBA processes billions of dollars worth of mortgage payments for hundreds of thousands of customers. All payments are securely processed through the Federal ACH Banking System with their banking partners.
Educate your kids financially
April 1, 2013 By Leave a Comment
You can never teach your children about money too soon!
You may have noticed, children may act as money grows on trees! Kids may be aware that you go to the bank to get money, but rarely they know how the money gets there. This is the perfect opportunity to teach your kids that you have to work hard to earn the money that you spend. Once they understand this concept they may become aware of the hard work you put in to earn a living.
Once they learn, they will apply
After your kids learn about money, how its earned, and the things it can buy; you might notice they will save every penny they can get their hands on. As a parent it is your responsibility to channel the attitude to teach them to save and learn delayed gratification.
-Planting the seeds early will help bear fruit later
Educate your children from a young age on how money is earned and how it works. By doing this you can avoid trying to teach them as teenagers, when they are less likely to heed any kind of advice you give.
Allowance can be an effective teaching tool
Giving your kids a small amount of money at a young age will prep them for the larger future numbers to come.
The teaching game changes with Teenagers and College-age kids
By the time the kids reach this age group they will most likely have bigger responsibilities such as: Checking accounts, Credit Cards, and other debt. Teaching the kids about banking and credit while in high school will set them on the path of success when they venture out on there own. High School, a lot of times, will off classes covering banking, financing, and the market. Teach your children to take advantage of these resources.
Do I Qualify for Financial Aid?
March 6, 2013 By Leave a Comment
Are you asking yourself: “Do I qualify for Financial Aid?” Preparing for post-secondary education can be a daunting task but done correctly and in the earliest time possible, it could be stress-free. Start by making small decisions – what college to attend to, what to study that will benefit you in the future, what are your goals, etc. Once you’re done with the major stuff, you’re ready to start considering your options for financial aid.
Financial aid is provided for student to help pay for college. Financial Aid can come from the U.S. federal government, the state where you live, the college you attend, or a nonprofit or private organization (http://studentaid.ed.gov)
Who gets financial assistance depends on the type of aid (there are private or federal, need-based or merit based financial aid) but in general, here are the eligibility requirements for the FEDERAL student aid:
- you have financial need,
- you are a U.S. citizen or eligible noncitizen,
- you are enrolled in an eligible degree or certificate program at your college or career school, and more.
The infographic below summarizes what you need to know about the eligibility criteria for federal student aid programs.
Inexpensive and Exciting Valentine’s Day Crafts
February 8, 2013 By Leave a Comment
Valentine’s Day will soon be upon us and if you still haven’t thought of A romantic (but cheap) Valentine’s Day gift for your special someone, you don’t have to worry because we’ve got you covered. Here are some easy and inexpensive Valentine’s Day crafts you can create at home: Click image for instructions
(Idea from Re: Located Living)
DIY Sweetheart Brownie Valentine
Happy Valentine’s Day from Nationwide Biweekly Administration! ♥
Celebrate Valentine’s Day without Breaking the Bank
February 1, 2013 By Leave a Comment
What’s so good about Valentine’s Day? For one, it is a special day when we stop whatever it is that’s keeping us busy and do simple things to show our loved ones how important they are to us. Another good thing about V-day is that you don’t have to spend a lot of money just to show someone you love them. In fact, most of the times, cheap (or free) gifts are better than expensive ones. They convey the sweetest message and create lasting memories.
Here are creative, romantic and CHEAP ways to say “I love you” on Valentine’s Day
♥ Watch romantic movies together
♥ Prepare a meal or cook a special meal together
♥ Take a moonlit walk in the park.
♥ Sing him/her a love song
♥ Burn a CD with your honey’s favorite love songs or any songs that remind him/her of fond memories you both share
♥ Create a list of things you like best about your partner.
♥ Create a homemade card or write a love letter.
♥ Play some entertaining board or video games with your sweetheart or with the whole family
♥ Create gift coupons. It could be a voucher for a romantic dance, a song number, a massage, anything your partner might need or are sure to enjoy.
♥ Focus on bringing a smile or laughter to your special someone or to every people you love.
♥ Write a love note and tuck it in his/her pocket. Just a simple “I love you” could mean a lot.
♥ Take a bottle of wine and plan a sunset picnic.
♥ Bring out old photo albums and reminisce over your photo memories.
See, creating a romantic and memorable valentine’s day is easy, and it only takes some effort and thought. Any more great ideas that you’ve done or would like to add? Let us know in the comments below!
Image credit: emitea
