ELFI wishes for the safety of all individuals in areas impacted by the natural disasters in the United States. If you've been affected, assistance may be available to you. Contact your loan servicer for more information.
AES: 1-866-763-6349 | MOHELA: 855-282-4269
×
TAGS
Lifestyle
News

World Health Day: Celebrating our Healthcare Workers

April 7, 2020

Since its inception in 1950, April 7 has been designated as World Health Day. This day is to bring awareness to a priority of concern designated by the World Health Organization. In the past, the health themes highlighted have included mental health awareness and climate change. For 2020, the World Health Organization is highlighting the important role that nurses and midwives play in the healthcare system. 

 

By Caroline Farhat

 

The essential role that nurses play in the healthcare system couldn’t be more true than today, during the COVID-19 global pandemic. Nurses, and all medical professionals, are on the front line fighting the unprecedented novel virus. Medical professionals are describing war-like conditions where they do not have enough supplies to treat the number of patients they encounter. Their experiences during this pandemic have pushed them to go above and beyond the call of duty and, at ELFI, we are incredibly grateful for their selfless bravery.  

 

Stories of heroism emerge daily of nurses and doctors during this pandemic. Here are just some of the stories of these heroic medical professionals:

  • A father in Arkansas, who is a resident physician, has quarantined himself away from his family in an effort to protect them from potentially contracting coronavirus. He works in different departments of the hospital, including the emergency room, where he encounters potential COVID-19 patients. The doctor saw his son, through a glass door, crawl for the first time. Missing out on special family milestones is one way medical professionals are going beyond the call of duty to protect their family and still help others. 

 

  • A registered nurse who works in the intensive care unit of a California hospital caring for patients with COVID-19 keeps a positive outlook for her patients. She tells her patients they are not alone because she is by their side. In addition, she helps her patients have FaceTime calls with their loved ones since they are not allowed to have visitors. This one act may seem small, but can mean the world to the patient and their loved one. 

 

  • A retired emergency room nurse, age 68, felt the push to get back to work when the pandemic arose. She said she was hearing from previous co-workers how they were feeling overwhelmed and the terrible conditions they had to deal with. Many use the same mask for days at a time until the masks deteriorate because there is a supply shortage. Even with all of this information, the retired nurse volunteered to help. She knew she was in a higher risk class due to her age so she was assigned to a call center. There, she is able to help physicians and patients with any questions they have. She said although she would like to be able to help in the ER, she feels this is one way she is able to contribute. Like her, many nurses and physicians have come out of retirement to help where needed. This dedication to the medical profession is appreciated now more than ever. 

 

  • An emergency room physician in California says they feel scared and tired because they understand they are exposing themselves to the virus and risking their lives, but the community support they feel is touching. He says now more than ever they take more precautions to protect themselves when seeing patients, and some of the gear they wear makes it harder to interact with the patients. He skips his lunch to be able to spend more time with patients to provide them comfort and support.

 

The selflessness of these medical professionals has inspired the generosity of others to help these heroes. 

  • Across the country, there are restaurants donating food for healthcare workers in the hospitals. Restaurant owners, who are feeling the pinch of inside dining being banned in many places, have turned to donating meals to hospitals. These meals go to feed the workers who may not have time to stop and prepare a meal for themselves due to the overwhelming amount of patients they are helping.   

 

  • There are average citizens raising money to be able to buy food for doctors and nurses in the emergency rooms and ICUs of hospitals with positive coronavirus patients. There are also funds that have been set up in cities across the country, including Houston and Pittsburgh, to purchase meals from local restaurants and donate the meals to healthcare workers.  

 

  • There are distilleries across America that have halted their normal production of spirits to make hand sanitizer. Distilleries from Anheuser-Busch to local distillers in 20 states are making hand sanitizer. Some are providing the sanitizer to consumers and others are donating to healthcare workers in the most needed areas.  

 

  • People are sewing face masks to donate to hospitals that have a shortage of supplies. Even retail giant JOANN Fabric and Craft Stores released a tutorial on how to make a mask. They are collecting donations of handmade masks with a goal of donating 100 million masks to medical personnel.        

 

During this stressful time, businesses are honoring the frontline heroes to try to alleviate any stress. 

  • Delta and JetBlue airlines are offering free flights to medical professionals who are traveling to hardest-hit areas to help with the fight against the virus. 

 

  • Airbnb is offering free or reduced housing for 100,000 medical professionals in an attempt to provide housing closer to where they work and isolated from any family members.

 

  • To help alleviate any stress regarding student loans, federal student loan payments and interest have been suspended through September 30, 2020. If you have private student loans, student loan refinancing may be the key to help reduce your payments.  

 

  • Some restaurants are providing free food or beverage items for medical professionals
    • Krispy Kreme is offering free donuts through May 12
    • Starbucks is offering free coffee through May 3

 

To the medical professionals: we appreciate the hard work and dedication you are displaying during this unprecedented time. With your unwavering spirit to continue the fight and help as many patients as you can, you have inspired a nation. You are among the heroes that we honor on this World Health Day.   

 


 

Notice About Third Party Websites: Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – the bank is not responsible for the content. Please contact us with any concerns or comments.

 

Sources:

https://lookinside.kaiserpermanente.org/nurse-comforts-covid-19-icu-patients-you-are-not-alone/

https://www.cnn.com/2020/03/27/us/inside-hospitals-coronavirus-vignettes/index.html

https://www.goalcast.com/2020/03/13/heroic-nurses-coronavirus/

https://www.nbc12.com/2020/03/29/doctor-sees-son-crawl-first-time-through-glass-door-after-coronavirus-separates-family/

https://local21news.com/news/nation-world/tornado-destroys-home-of-doctor-separated-from-family-while-battling-covid-19-pandemic

https://www.pghcitypaper.com/pittsburgh/support-local-restaurants-and-healthcare-workers-by-donating-to-feeding-the-frontline-pgh/Content?oid=17057422

https://www.click2houston.com/news/local/2020/04/03/want-to-help-healthcare-workers-restaurants-heres-how/

https://parade.com/1011922/jerylbrunner/distilleries-making-hand-sanitizer/

Leave a Reply

Your email address will not be published. Required fields are marked *

Current LIBOR Rate
2020-10-19
Current LIBOR Rate Update: October 2020

This blog provides the most current LIBOR rate data as of October 19, 2020, along with a brief overview of the meaning of LIBOR and how it applies to variable-rate student loans. For more information on how LIBOR affects variable rate loans, read our blog, LIBOR: What It Means for Student Loans.

 

What is LIBOR?

The London Interbank Offered Rate (LIBOR) is a money market interest rate that is considered to be the standard in the interbank Eurodollar market. In short, it is the rate at which international banks are willing to offer Eurodollar deposits to one another. Many variable rate loans and lines of credit, such as mortgages, credit cards, and student loans, base their interest rates on the LIBOR rate.

 

How LIBOR Affects Variable Rate Student Loans

If you have variable-rate student loans, changes to the LIBOR impact the interest rate you’ll pay on the loan throughout your repayment. Private student loans, including refinanced student loans, have interest rates that are tied to an index, such as LIBOR. But that’s not the rate you’ll pay. The lender also adds a margin that is based on your credit – the better your credit, the lower the margin. By adding the LIBOR rate to the margin along with any other fees or charges that may be included, you can determine your annual percentage rate (APR), which is the full cost a lender charges you per year for funds expressed as a percentage. Your APR is the actual amount you pay.

 

LIBOR Maturities

There are seven different maturities for LIBOR, including overnight, one week, one month, two months, three months, six months, and twelve months. The most commonly quoted rate is the three-month U.S. dollar rate. Some student loan companies, including ELFI, adjust their interest rates every quarter based on the three-month LIBOR rate.

 

Current 1 Month LIBOR Rate – October 2020

As of October 19, 2020, the 1 month LIBOR rate is 0.15%. If the lender sets their margin at 3%, your new rate would be 3.15% (0.15% + 3.00%=3.15%). 

 

Current 3 Month LIBOR Rate – October 2020

As of October 19, 2020, the 3 month LIBOR rate is 0.24%. If the lender sets their margin at 3%, your new rate would be 3.24% (0.24% + 3.00%=3.24%). 

 

Current 6 Month LIBOR Rate – October 2020

As of October 19, 2020, the 6 month LIBOR rate is 0.25%. If the lender sets their margin at 3%, your new rate would be 3.25% (0.25% + 3.00%=3.25%). 

 

Current 1 Year LIBOR Rate – October 2020

As of October 19, 2020, 2020, the 1 year LIBOR rate is 0.35%. If the lender sets their margin at 3%, your new rate would be 3.35% (0.35% + 3.00%=3.35%). 

 

Understanding LIBOR

If you are planning to refinance your student loans or take out a personal loan or line of credit, understanding how the LIBOR rate works can help you choose between a fixed or variable-rate loan. Keep in mind that ELFI has some of the lowest student loan refinancing rates available, and you can prequalify in minutes without affecting your credit score.* Keep up with the ELFI blog for monthly updates on the current 1 month, 3 month, 6 month, and 1 year LIBOR rate data.

 
 

*Subject to credit approval. Terms and conditions apply.

 

Notice About Third Party Websites: Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – the bank is not responsible for the content. Please contact us with any concerns or comments.

Celebrate paying off your student loans
2020-10-08
7 Ways to Celebrate Paying off Your Student Loans

At last, you’ve done it! You’ve been diligent in paying off your student loans, and now you’re finally free of them. Being free from student debt means you can start tackling other financial goals. Before you go back to the money-saving grind, however, why not celebrate paying off your student loans? After all, with student loan debt reaching 1.2 trillion in the United States, every time someone pays their debt off it’s worth celebrating.   While it may be a little more difficult to celebrate during the ongoing COVID-19 pandemic, you can still have a good time. Here are 7 great ways to celebrate paying off your student loans without acquiring new debt on the way:  

Relax

Simple as that, sit on the couch and enjoy being debt-free. Paying down student loan debt is stressful, but you’ve done it. Good job. Imagine we’ve given you a high-five and a pat on the back.  

Throw a Digital Party

Include all your friends or family in a video call and enjoy each other’s company. Maybe even schedule several separate video calls so you can focus on celebrating with each group.  

Treat Yourself

It’s time to treat yourself to something nice. Choose an item or experience that is meaningful to you: a new outfit, a new pair of shoes, go out to dinner, whatever makes you happy. Take some time to enjoy whatever you’ve gotten. You’ve certainly worked for it. Just make sure it’s not something that’ll put you into credit card debt!  

Treat Someone Else

What better way to celebrate your paying off your student loans than by including those who helped make you successful? Take your parents out to a nice dinner or have a good time with some close friends. Make sure they know how much you appreciated their support throughout your student loan repayment journey, especially if they’ve helped pay along the way.   Another great option is charitable giving. You can celebrate paying off your student loans by giving to a worthy cause. Whether as a one-time gift or a monthly series of donations, your money will go toward something that you feel is important. Not only will you feel great for having given to something worthwhile, but you may also be able to deduct your charitable donation from your taxes.  

Plan a Trip

Even if you’re planning for the future, now is the perfect time to consider where you’d like to travel. Take a look at some spectacular destinations. Decide where to go. Start saving now, and when the departure date arrives, you’ll be ready to go.   If you’re already saving toward other financial goals and want to be careful of your budget, consider a road trip. There’s still plenty of time for a cross-country odyssey before winter, and the countryside will look particularly beautiful in the fall. If you’re looking for more vacation ideas, here are a couple of vacation ideas that won't break the bank.  

Plan Your Next Financial Conquest

For those who are goal-oriented, now is the perfect time to decide what financial goal you’ll tackle next. Is it time to get a new car? Eliminate the rest of your credit card debt? Maybe it’s even time to buy a house. Ultimately it’s up to you to decide, but you should set up a plan to tackle that next big financial goal in a timely and efficient manner. The good news is, since you’ve already bested your student loan debt, you’re not only experienced but also prepared to face whatever comes next.  

Save Your Student Loan Payment

They say the best time to start saving was yesterday. The second-best time is today. Celebrate paying off your student loans by investing in your future financial health. Put the amount of your student loan payment in a savings account each month or consider investing it. Your future self will thank you. You’ve already proven you can live without it, so why stop now? But as always, make sure to do your research before you launch any type of investing strategy!   Congratulations on eliminating the last of your student loan debt. You should be incredibly proud of the effort you’ve put into seeing your payments through. Before you start the next step in your financial journey, take some time for yourself. Enjoy that feeling of success and use it to push yourself toward your next goal. Now is the time to celebrate!   If you haven’t yet paid off your student loans, you may want to consider student loan refinancing. Take a look at what student loan refinancing could do for you here.  
  Notice About Third Party Websites: Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – the bank is not responsible for the content. Please contact us with any concerns or comments.
2020-09-30
The Best Personal Finance Blogs of 2020

If you’re looking to build strong money management habits, you should consider subscribing to a personal finance blog. All over the internet, personal finance professionals share their wisdom on how to build wealth, pay down debt and establish budgets. You have a world of financial knowledge at your fingertips, so it's time to get started!   With a range of topics and blog focuses, it can be hard to decide where to begin. If you’re all about smart saving, spending wisely and torching your student debt, then here are ELFI’s top picks for 2020 personal finance blogs:

Making Sense of Cents

Making Sense of Cents has a little bit of everything when it comes to building money management habits. Whether you have questions about student debt, insurance or budgeting, this is the blog for you. It’s also been named one of the top personal finance blogs by FinCon, Zillow and the Plutus Awards.   This blog maintains a light, fun tone so it’s easy to read, and it handles a lot of top-level questions about personal finance. Author Michelle also shares about her experiences living in an RV and on a sailboat touring the world. If you’ve caught the travel bug, then you may find some exciting content here.  

Millennial Money Man

Bobby Hoyt, the founder of Millennial Money Man, teaches millennials to pay off debt and live their best, self-employed lives. His blogs focus primarily on trending finance apps and ways to monetize your hobbies. He also shares useful budgeting and spending tips to help set you up for financial success.   If you have a passion for entrepreneurship, Bobby is your man. Enjoy insider tips on growing your business and expanding your income streams, from someone who's done it himself.  

The Budgetnista

Tiffany “The Budgetnista” Aliche is passionate about teaching personal finance. She's also one of Amazon’s #1 bestselling authors for her books on personal finance. Her background as a preschool teacher makes her incredible at explaining high-level financial topics in an engaging, easy-to-understand way. Although she’s developed near-celebrity status as a blogger and speaker, Tiffany's down-to-earth style makes for a relatable, fun read.   From banishing debt to building a strong business, her blog covers best practices for achieving financial success. She debunks money myths with topics like “Debt Freedom Doesn’t Equal Wealth,” to help her readers build money management habits. If you have an entrepreneurial personality and are ready to take the next financial step in your personal life or your business, The Budgetnista blog is for you.  

Afford Anything

If you’re a travel fanatic, you’ll love “Afford Anything." Author Paula Pant has traveled to more than 40 countries. She speaks to financial independence and real estate investing, her two primary categories of expertise. She’s built self-sustaining wealth by investing in real estate and uses her free time to teach others how to do the same.   Her blog is all about cutting back expenses in unnecessary areas while spending on the things you love. She writes for readers who want an actionable strategy for spending and saving wisely. If you’re interested in building wealth or in real estate investing, this is one blog you won’t want to miss.  

Broke Millennial Blog

Broke Millennial Blog author and speaker Erin Lowry wants to teach you how to get your financial life together with a 5-step plan designed to help you take charge of your finances. Her blog focuses on popular millennial topics, like budgeting strategies for different personality types and awkward money situations. If you feel like you could use a little financial direction, this blog is probably a great fit for you.   If you love the Broke Millennial Blog and want to take the next step in your financial journey, Erin makes it easy! You can subscribe to the blog’s email list for access to a free money management worksheet designed just for readers.  

Stefanie O’Connell

Stefanie O’Connell wants to help you travel the world, create a living space you love and have healthy financial conversations with your significant other. Her blog addresses financial conundrums you may have wondered about but have been afraid to ask, like “Why I’m Not Having Bridesmaids at My Wedding” and “4 Ways to Buy a Home When You don’t Have Enough of a Down Payment.”   Stefanie’s upbeat, relatable blog gives readers a sense of familiarity. She doesn’t cut corners and gets straight to the heart of financial questions. Her blog offers direction if you’re interested in investing, budgeting or establishing healthy financial boundaries in your relationship.   Every reader interested in learning more about financial topics should check out ELFI’s recommended blogs. If you’re loving the ELFI blog, don’t forget to check out the rest of our topics for even more great information about managing your student loan debt.  
  Notice About Third Party Websites: Education Loan Finance by SouthEast Bank is not responsible for and has no­­­ control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – the bank is not responsible for the content. Please contact us with any concerns or comments.