Collector - June 2020 - 12

FYI

ECONOMY

U.S. HITS RECORD UNEMPLOYMENT LEVELS
The coronavirus pandemic that hit the U.S. caused the unemployment rate to
climb to new heights. The unprecedented whiplash has left many scrambling.
More than 30 million Americans filed new claims for unemployment benefits in
a six-week period between March and April as businesses anticipated future
losses, temporarily closed or went out of business completely. The Federal
Reserve Bank of St. Louis estimates that in total more than 47 million people
could be laid off in the second quarter of 2020.

PAYMENTS

41.1%

States with Top Unemployment Claims*
1 FLORIDA 8,446%

Anticipated compound annual growth
rate for real-time digital payments in
the U.S. from 2019 to 2024.

2 LOUISIANA 5,678%
3 WEST VIRGINIA 5,674%

Source: ACI Worldwide

4 GEORGIA 5,135%
SAVINGS

5 KENTUCKY 5,122%
* Increase in the number of unemployment
insurance initial claims in the week of April 13,
2020, compared to the week of April 15, 2019
Source: WalletHub

Jobs Hit
Hardest
by the
Coronavirus

Medical
First
Professionals Responders

Service
Workers

$100,000

Maximum loan amount Americans
can take against their retirement
accounts this year without a
penalty under the coronavirus
stimulus package.

Airline
Personnel

Actors,
Dancers and
Performers

Source: Bloomberg

LOANS

STUDENT LOAN INTEREST RATES
TEMPORARILY DROP TO ZERO
The Coronavirus Aid, Relief, and Economic Security
(CARES) Act includes breaks for student loan borrowers.
Federal student loan payments are suspended-interestfree-through Sept. 30, 2020. This includes defaulted and
nondefaulted Direct Loans and Federal Family Education
Loans as well as federal Perkins loans.
For anyone taking out loans between July 1, 2020, and
June 30, 2021, student loan interest rates will be the
lowest in more than 10 years.
*For loans first disbursed on or after July 1, 2019,
and before July 1, 2020.

12

Interest Rates on Federal Student Loans
Direct
Subsidized
& Unsubsidized
Loans

4.53%

Direct PLUS
Loans

Direct
Unsubsidized
Loans

7.08%

6.08%
0%

Interest Rate Prior
to March 13, 2020*

0%

0%

Source: StudentAid.gov

Interest Rate From
March 13-Sept. 30, 2020

ACAINTERNATIONAL.ORG


http://www.StudentAid.gov http://www.ACAINTERNATIONAL.ORG

Collector - June 2020

Table of Contents for the Digital Edition of Collector - June 2020

Collector - June 2020 - Cover1
Collector - June 2020 - Cover2
Collector - June 2020 - 1
Collector - June 2020 - 2
Collector - June 2020 - 3
Collector - June 2020 - 4
Collector - June 2020 - 5
Collector - June 2020 - 6
Collector - June 2020 - 7
Collector - June 2020 - 8
Collector - June 2020 - 9
Collector - June 2020 - 10
Collector - June 2020 - 11
Collector - June 2020 - 12
Collector - June 2020 - 13
Collector - June 2020 - 14
Collector - June 2020 - 15
Collector - June 2020 - 16
Collector - June 2020 - 17
Collector - June 2020 - 18
Collector - June 2020 - 19
Collector - June 2020 - 20
Collector - June 2020 - 21
Collector - June 2020 - 22
Collector - June 2020 - 23
Collector - June 2020 - 24
Collector - June 2020 - 25
Collector - June 2020 - 26
Collector - June 2020 - 27
Collector - June 2020 - 28
Collector - June 2020 - 29
Collector - June 2020 - 30
Collector - June 2020 - 31
Collector - June 2020 - 32
Collector - June 2020 - 33
Collector - June 2020 - 34
Collector - June 2020 - 35
Collector - June 2020 - 36
Collector - June 2020 - 37
Collector - June 2020 - 38
Collector - June 2020 - 39
Collector - June 2020 - 40
Collector - June 2020 - 41
Collector - June 2020 - 42
Collector - June 2020 - 43
Collector - June 2020 - 44
Collector - June 2020 - Cover3
Collector - June 2020 - Cover4
http://online.collector.com/collectormagazine/202007
http://online.collector.com/collectormagazine/202006
http://online.collector.com/collectormagazine/202005
http://online.collector.com/collectormagazine/202004
http://online.collector.com/collectormagazine/202003
http://online.collector.com/collectormagazine/202002
http://online.collector.com/collectormagazine/202001
http://online.collector.com/collectormagazine/201912
http://online.collector.com/collectormagazine/201911
http://online.collector.com/collectormagazine/201910/
http://online.collector.com/collectormagazine/201909/
http://online.collector.com/collectormagazine/201908/
http://online.collector.com/collectormagazine/201907/
http://online.collector.com/collectormagazine/201906/
http://online.collector.com/collectormagazine/201905/
http://online.collector.com/collectormagazine/201904/
http://online.collector.com/collectormagazine/201903/
http://online.collector.com/collectormagazine/201902/
http://online.collector.com/collectormagazine/201901/
http://online.collector.com/collectormagazine/201812/
http://online.collector.com/collectormagazine/201811/
http://online.collector.com/collectormagazine/201810/
http://online.collector.com/collectormagazine/201809/
http://online.collector.com/collectormagazine/201808/
http://online.collector.com/collectormagazine/201807/
http://online.collector.com/collectormagazine/201806/
http://online.collector.com/collectormagazine/201805/
http://online.collector.com/collectormagazine/201804/
http://online.collector.com/collectormagazine/201803/
http://online.collector.com/collectormagazine/201802/
http://online.collector.com/collectormagazine/201801/
http://online.collector.com/collectormagazine/201712/
http://online.collector.com/collectormagazine/201711/
http://online.collector.com/collectormagazine/201710/
http://online.collector.com/collectormagazine/201709/
http://online.collector.com/collectormagazine/201708/
http://online.collector.com/collectormagazine/201707/
http://online.collector.com/collectormagazine/201706/
http://online.collector.com/collectormagazine/201705/
http://online.collector.com/collectormagazine/201704/
http://online.collector.com/collectormagazine/201703/
http://online.collector.com/collectormagazine/201702/
http://online.collector.com/collectormagazine/201701/
http://online.collector.com/collectormagazine/201612/
http://online.collector.com/collectormagazine/201611/
http://online.collector.com/collectormagazine/201610/
http://online.collector.com/collectormagazine/201609/
http://online.collector.com/collectormagazine/201608/
http://online.collector.com/collectormagazine/201607/
http://online.collector.com/collectormagazine/201606/
http://online.collector.com/collectormagazine/201605/
http://online.collector.com/collectormagazine/201604/
http://online.collector.com/collectormagazine/201603/
http://online.collector.com/collectormagazine/201602/
http://online.collector.com/collectormagazine/201601/
http://online.collector.com/collectormagazine/201512/
http://online.collector.com/collectormagazine/201511/
http://online.collector.com/collectormagazine/201510/
http://online.collector.com/collectormagazine/201509/
http://online.collector.com/collectormagazine/201508/
http://online.collector.com/collectormagazine/201507/
https://www.nxtbookmedia.com