Program teaches working poor ways to save, build credit, By Laura Finaldi, November 29, 2012, Boston Globe: “Meg Alcantara, a single mother of three, was working two jobs, but never getting ahead. She had no savings, lots of overdue bills, and hardly any hope getting a credit card, let alone ever owning a home. Two years later, Alcantara, 49, of Lynn, is working just one job and earning 63 percent more after recently gaining a promotion to office manager at a physical therapy practice. Her credit score has jumped nearly 100 points and she has put away about $5,200 toward a down payment and her dream of owning a home. Alcantara’s journey to financial stability was aided by a partnership of the Lynn Housing Authority and Neighborhood Development and a Boston nonprofit that combined an overlooked federal housing program with the financial literacy initiatives of the nonprofit, Compass Working Capital. Known as the Compass Financial Stability and Savings Program, the joint venture provides the tools for subsidy receivers like Alcantara to earn more, save more, build assets, and better their lives…”
Month: November 2012
Supplemental Nutrition Assistance Program Enrollment
Nearly 15 million households on food stamps, By Tami Luhby, November 28, 2012, CNNMoney: “The number of American households receiving food stamps jumped nearly 10% in 2011. Nearly 15 million households were on food stamps at some point last year, up from 13.6 million in 2010, newly released Census data shows. That’s an increase to 13%, up from 11.9% in 2010. Some 47 states and the nation’s capital experienced an increase in their residents receiving nutrition assistance, with the District of Columbia, Alabama and Hawaii seeing the largest jump. No state experienced a statistically significant decrease…”
Extension of Jobless Benefits
- Federal budget standoff is nerve-racking for state’s long-term jobless, By Marc Lifsher, November 28, 2012, Los Angeles Times: “The federal budget crisis in Washington known as the ‘fiscal cliff’ has an estimated 400,000 long-term jobless Californians on the edge. A 41/2 -year-old program of emergency federal jobless assistance, which provides many of the state’s unemployed up to $450 a week in benefits, is scheduled to expire Dec. 29 — unless Congress and President Obama agree to keep it going. Nationwide, about 2 million people face a cutoff in unemployment benefits, estimated to cost $30 billion in the coming year. An additional 1 million jobless workers are expected to lose state benefits by March…”
- 45,000 Massachusetts residents could lose federal unemployment insurance benefits in December, By Shira Schoenberg, November 27, 2012, Springfield Republican: “The state Division of Unemployment Assistance has notified 45,000 Massachusetts residents that their unemployment benefits will end at the end of the year, if Congress does not act. Michelle Amante, acting director of the Division of Unemployment Assistance, said the division sent out letters to beneficiaries on Monday and Tuesday. The change will affect anyone who is currently receiving federal extension benefits…”