News from the South - North Carolina News Feed
Worries arise that loan to Saint Augustine's University could threaten school's future
SUMMARY: St. Augustine’s University faces significant financial struggles, with millions in debt raising alarms among community members regarding its partnership with Gothic Ventures. Concerns center on the 24% interest loan agreement, which includes a 2% management fee and collateralizes campus properties. Critics fear that failure to repay could lead to the university’s closure. Gothic Ventures, noting the university’s financial challenges, expressed a willingness to discuss modifying the loan terms. Opponents demand changes like lowering the interest rate to 9% or enabling debt transfer to alleviate the strain on the historically Black college and secure its future.
A group of leaders are worried about a $7 million loan given to Saint Augustine’s University. The group includes religious leaders, social justice advocates and SAU alumni. Together, they spent Wednesday raising awareness about the loan and pushing for a solution to the school’s financial challenges.
Story: https://abc11.com/post/saint-augustines-university-despite-financial-accreditation-struggles-leaders-join-forces-push-save-hbcu/15563919/
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News from the South - North Carolina News Feed
Social Security benefits boosted for millions in bill headed to Biden’s desk • NC Newsline
SUMMARY: The U.S. Senate passed a bipartisan bill to increase Social Security benefits by eliminating the windfall elimination provision (WEP) and government pension offset (GPO), affecting millions of Americans, particularly public servants. The legislation, costing over $195 billion over ten years, awaits President Biden’s approval. While many senators support these changes, some express concerns about the potential impact on the Social Security trust fund. Current estimates suggest this could advance insolvency by six months, prompting calls for a broader discussion on Social Security’s sustainability. The bill reflects longstanding efforts to rectify perceived inequities in the current system.
The post Social Security benefits boosted for millions in bill headed to Biden’s desk • NC Newsline appeared first on ncnewsline.com
News from the South - North Carolina News Feed
Fuel prices better than national average for 3.3M forecast to travel | North Carolina
SUMMARY: As North Carolinians prepare for holiday travel, the average price for a gallon of unleaded gasoline is $2.83, below the national average of $3.05. AAA anticipates 3.5 million residents traveling at least 50 miles from home in the state between December 23 and January 1. While North Carolina’s gasoline prices are better than a month ago, diesel averages $3.41. Among 14 major metro areas, Jacksonville has the lowest unleaded price at $2.72, while Durham-Chapel Hill has the highest at $2.97. North Carolina’s gas taxes, currently 40.4 cents per gallon, fund transportation projects statewide.
The post Fuel prices better than national average for 3.3M forecast to travel | North Carolina appeared first on www.thecentersquare.com
News from the South - North Carolina News Feed
Lawmakers in Congress work to reach a deal to avoid government shutdown
SUMMARY: A government shutdown could occur if Congress doesn’t pass a spending bill by midnight, potentially affecting 3.5 million federal workers, including military personnel, airport security, and air traffic controllers. These workers risk not receiving paychecks this holiday season. A bipartisan bill, supported by President-elect Trump and Elon Musk, was voted down by 38 Republicans. The alternative Republican plan, which aimed to suspend the debt ceiling for two years, also failed. The shutdown would delay billions in relief for disaster victims and farmers. Federal workers, including military families, face uncertainty about their pay and future financial stability.
Republican congressional leaders Thursday night failed to pass a revamped plan to avoid a government shutdown looming Friday night — and to satisfy President-elect Donald Trump’s explosive demand that the debt limit be raised, or eliminated, at the same time.
https://abc11.com/live-updates/government-shutdown-live-updates-donald-trump-calls-congress-get-rid-ceiling/15680852/
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