As the Virus Deepens Financial Trouble, Colleges Turn to Layoffs

dhita yudha

Dorms on East Green at Ohio University in Athens, Ohio, June 21, 2020. (Maddie McGarvey/The New York Times)
Dorms on East Green at Ohio University in Athens, Ohio, June 21, 2020. (Maddie McGarvey/The New York Times)

LAKEWOOD, Ohio — Hammered by mounting coronavirus costs and anticipating lost revenue from international students, fall sports and state budgets gutted by the pandemic, colleges and universities nationwide have begun eyeing what until now has been seen as a last resort — thinning the ranks of their faculty.

The University of Akron this week became one of the first schools in the country to make deep cuts in the number of full-time professors on its staff, with the board of trustees voting Wednesday to lay off about a fifth of the university’s unionized workforce to balance its budget, including nearly 100 faculty members.

Other universities have also trimmed teaching positions, although most have limited themselves to those without tenure. This month, the University of Texas at San Antonio laid off 69 instructors,

Read More

More Than Half Of Hoboken Coronavirus Cases Are Under 40: City

dhita yudha

HOBOKEN, NJ — In a coronavirus update on Saturday afternoon, Hoboken Mayor Ravi Bhalla said the Health Department reported four cases of coronavirus among residents on Friday and one new case Thursday, bringing the total of confirmed cases among residents since the start of the pandemic to 645.

This past Tuesday, Bhalla had noted 12 new cases since Friday, bringing the city’s total that day to 634. That means there have been 11 new cases since the Tuesday update, for a total of 23 from last Friday to this Saturday.

The number of fatalities in this city of 53,000 people has remained unchanged at 29, with no residents passing away from the virus since May.

Hoboken and several other cities in New Jersey experienced a week in June in which they had only one or no cases, before facilities started reopening and people traveled more.

On Saturday, the city also

Read More

With mortgage rates now under 3%, most home loans are due for a refinance, study says

dhita yudha

Few people ever expected to see mortgage rates slide so low, and many homeowners have been caught off guard. Thirty-year fixed-rate mortgages are now averaging less than 3% in multiple surveys — and are offering major refinance savings.

Though mortgage holders have been flocking to get new loans with sharply reduced interest rates, plenty of homeowners are still sitting on mortgages that are now too expensive.

In fact, a new report from mortgage company Fannie Mae says most mortgages with outstanding balances should be refinanced. Maybe that includes yours.

If you have a mortgage that’s closer to 4% than 3%, your monthly mortgage payment is probably hundreds of dollars higher than it could be.

Who needs to refinance?

Roschetzky Photography / Shutterstock

An estimated 60% of homeowners with mortgages can chop down their interest rates by at least one-half of one percentage point by refinancing, Fannie Mae says.

“The

Read More

With rates under 3%, most mortgages are due for a refinance, study says

dhita yudha

Few people ever expected to see mortgage rates slide so low, and many homeowners have been caught off guard. Thirty-year fixed-rate mortgages are now averaging less than 3% in multiple surveys — and are offering major refinance savings.

Though mortgage holders have been flocking to get new loans with sharply reduced interest rates, plenty of homeowners are still sitting on mortgages that are now too expensive.

In fact, a new report from mortgage company Fannie Mae says most mortgages with outstanding balances should be refinanced. Maybe that includes yours.

If you have a mortgage that’s closer to 4% than 3%, your monthly mortgage payment is probably hundreds of dollars higher than it could be.

Who needs to refinance?

Roschetzky Photography / Shutterstock

An estimated 60% of homeowners with mortgages can chop down their interest rates by at least one-half of one percentage point by refinancing, Fannie Mae says.

“The

Read More

With rates under 3%, most mortgages should be refinanced, study says

dhita yudha

Few people ever expected to see mortgage rates slide so low, and many homeowners have been caught off guard. Thirty-year fixed-rate mortgages are now averaging less than 3% in multiple surveys — and are offering major refinance savings.

Though mortgage holders have been flocking to get new loans with sharply reduced interest rates, plenty of homeowners are still sitting on mortgages that are now too expensive.

In fact, a new report from mortgage company Fannie Mae says most mortgages with outstanding balances should be refinanced. Maybe that includes yours.

If you have a mortgage that’s closer to 4% than 3%, your monthly mortgage payment is probably hundreds of dollars higher than it could be.

Who needs to refinance?

Roschetzky Photography / Shutterstock

An estimated 60% of homeowners with mortgages can chop down their interest rates by at least one-half of one percentage point by refinancing, Fannie Mae says.

“The

Read More

how to stay safe as UK cycle sales soar

dhita yudha

<span>Photograph: DWD-photo/Alamy</span>
Photograph: DWD-photo/Alamy

The coronavirus crisis has resulted in Britons buying bikes in huge numbers, but in tandem with increased sales has come an epidemic of theft. Insurers are warning that claims have leapt by 46% in the past seven weeks compared with last year.

In April, at the height of lockdown, the number of bikes sold rose by 60%. The biggest change was in those valued at £400 to £1,000, sales of which doubled.

So what can you do to protect your bike?

Buy a good lock

The industry’s rule of thumb is to buy a lock for a price equal to 10% to 20% of the bike’s cost. Thieves are lazy and mostly target cheap locks.

In its guide to protecting your bike, the insurer Admiral cites the Kryptonite New York M18 U-lock as being good quality. It costs £82.99 at Wiggle.co.uk. Add a cable for another tenner, so

Read More

‘Panicked’ Teachers Prep Wills, Goodbye Letters Before Their Schools Reopen: ‘I’m Scared as Hell’

dhita yudha

Many school districts have announced they won’t hold in-person classes at the beginning of the school year, while others are pushing forward with plans to reopen — and educators, especially those whose underlying medical conditions put them at increased risk of dying from COVID-19, tell PEOPLE they are fearing the worst.

Terri Crothers loves her job as an art instructor, but when her middle school district said teachers must return for in-person classes next month, she was so terrified of getting sick, and maybe even dying, she immediately contacted an attorney and started writing goodbye letters to her family.

She joins a growing list of anxious school teachers who are rushing to lawyers and estate planners to draw up new wills as they face the prospect of going back to their buildings amid the coronavirus pandemic.

“I’m scared as hell about going back into the classroom,” Crothers, 57, of Gallipolis,

Read More

California unemployment falls, but virus surge likely to reverse job gains

dhita yudha

California added 558,200 jobs from mid-May to mid-June and state unemployment fell from 16.4% to 14.9% — but don’t start celebrating yet. The numbers don’t account for the resurgence of COVID-19 cases throughout the U.S. and in California in the last half of June or the retreat in plans to reopen the economy. The numbers were released Friday morning by the U.S. Bureau of Labor Statistics, which slightly revised the earlier jobless figure from 16.3% to 16.4%.

Leisure and hospitality added the most jobs, at 292,500, benefiting from statewide reopenings of bars and dine-in restaurants, according to the California Employment Development Department. As of mid-June, that sector had regained more than a third of job losses from March and April. Construction jobs had the highest percentage gain, clawing back 68% of jobs lost during the pandemic. Government suffered the largest decline in jobs, at 36,300.

But the dial-back is bound

Read More

10 disasters you’d never expect home insurance to cover

dhita yudha

A typical home insurance policy protects against all kinds of unexpected threats, like fire, theft and — falling satellites?

Almost 4 million homes in the United States had a claim in 2018, according to the latest data from the Insurance Information Institute. That number would be a whole lot higher if homeowners knew everything they could file for.

Considering how many people are overpaying for their insurance by $1,000 a year or more, they should at least be getting their money’s worth. Here are 10 things you might not realize are covered.

1. Plane poop

mHanafiAhmad / Shutterstock

This one’s pretty bad, which is all the more reason to be glad for your coverage.

Airplane toilets can leak, on occasion, and the cold of high altitudes can cause the waste to freeze into chunks of “blue ice.”

If you hear a loud bang one day, only to find an

Read More

Am I allowed to visit, are hotels and restaurants open and what rules are in place?

dhita yudha

Playa de Formentor, Mallorca, Spain: istock
Playa de Formentor, Mallorca, Spain: istock

As countries around the globe tentatively begin to relax restrictions on travel, the promise of tapas al fresco and long, lazy sun-filled days beside the sea come top of the travel wish-list for many tourists.

Spain has long topped the list as one of the UK’s favourite holiday destinations, with more than 18 million British tourists visiting in 2019 – a fifth of the country’s overall total of nearly 84 million visitors, according to figures from the National Institute of Statistics.

But can British holidaymakers get there? And will we be welcome?

Here’s all the information you need to know.

Am I allowed to travel to Spain from the UK?

The Foreign and Commonwealth Office (FCO) issued a blanket warning against all non-essential international travel in March, but this has now been lifted for 67 destinations as of 4 July.

Spain was on this

Read More