June 2012


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SBA, AARP Connect Older Americans with Resources to Start, Grow Businesses


Alliance will provide counseling, training to 100,000 encore entrepreneurs WASHINGTON – The U.S. Small


Business Administration and AARP are launching a strategic alliance to provide counseling and training to entrepreneurs over the age of 50 who want to start or grow a small business. Through SBA’s online training courses and its nationwide network of business mentors and counselors, the two organizations expect to train 100,000 “encore entrepreneurs,” men and women over 50 who are starting or running a small business.


“No matter what your age, if you


have an idea or a business that’s ready to move to the next level, the SBA wants to make sure you have access to the tools you need to start and grow,” said SBA Administrator Karen Mills. “We know that working side-by-side with AARP, we will be able to reach baby boomers and Americans over the age of 50 who have years of professional experience working for others and are ideally positioned to step out and become their own boss. And, in doing so, they will become job creators and drivers of economic growth in their communities.”


SBA has set up a dedicated web


page Americans over the age of 50 featuring: an online self-assessment tool that will help potential small business owners understand their readiness for starting a business as well as information to help with business planning, shaping


a winning business idea, professional counseling, financial services and information to find local resources in your area. This web page can be found at: www.sba.gov/content/50-entrepre- neurs.


SBA and AARP also will jointly


develop and host a customized online course, self-assessment, and webinar series for older entrepreneurs. SBA already offers a suite of online courses for people who want to start and grow their business. To take a course, go to http://www.sba.gov/training


under


“online courses.” Course topics include start-up basics, finance strategies, marketing tactics, overseas trade, and more.


For more than 70 million Americans


over 50, business ownership is a practical option. It can be a second career or a chance to leverage life experiences into an interesting and financially practical “encore” career.


“Many baby boomers are working


beyond retirement age and choosing to stay active and engaged in the workforce,” Mills said. “For many older entrepreneurs, starting a small business can be an opportunity to transform a lifetime hobby or interest or years of professional experience into a lucrative line of work.”


For more information on SBA’s


programs and services, please visit www.sba.gov.


Your Opinion Matters


We Can All Start to Breathe a Little Easier


BY TIFFANY GIBSON Every year, power plants dump


more than two billion tons of dangerous carbon pollution and other pollutants into the air. These pollutants contribute to an increase in smog, and leads to an increased number of asthma attacks and even deaths in our community. And frighteningly, our children fac the highest risk. Because infants and children have weaker immune systems, they have a higher rate of exposure to pollutants in the air and are more susceptible to the health effects of air pollution.


Despite intense pressure from big


polluters, the Obama Administration and the Environmental Protection Agency (EPA) announced new standards to limit carbon pollution from new power plants. The EPA’s new standards would put the first national limits on industrial carbon


pollution and are essential to protect the health of our kids and families. Coupled with forthcoming standards for existing power plants and the steps being taken to cut other dangerous power plant pollutants – soot, smog, mercury, and other toxic pollutants – these industrial carbon pollution standards will help protect our health, reduce waste, and encourage job innovation.


The American people deserve


clean air and water, and it is up to the EPA to enforce standards that will protect our health. Health Professionals, scientists, and the American people are raising their voices in support of these new standards, and I urge you to do the same. Contact the EPA today, or Virginia Senators Webb and Warner, and let them know the importance of our public health. If we all come forward in support of clean air, we’ll all start to breathe a little easier.


Have an opinion on a topic affecting you or your community? Send a letter to the editor: editor@hamptonroadsmessenger.com


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Tell us about your FROM PAGE 1


to borrow for college,” said Denise Waters, an FDIC Consumer Affairs Specialist.


Other ways to save include


going to a nearby school and living at home; choosing a college regarded as both high-quality and low-cost; and attending a community college for a few semesters before transferring to a more expensive, four-year institution.


If you must take out a loan,


understand the different options. Federal student loans usually have lower interest rates and more flexible repayment options than private loans from non-government lenders such as banks and credit unions. Under current law, all federal student loans are obtained through the Federal Direct Loan Program administered by the U.S. Department of Education. The easiest way to apply for a federal loan, as well as federal student aid and most state and college aid, is online at www.fafsa.gov. And, to learn more about federal student loans, start at federalstudentaid.ed.gov/ students.html.


Private loans are available for


expenses not covered by savings, financial aid or federal loans, but do your homework before borrowing. “Many private student loans have interest rates that may change periodically, which could increase your monthly payments,” said Heather St. Germain, an FDIC Consumer Affairs Specialist. “It also is difficult to find a private lender that provides repayment options as attractive as those offered by the federal government.”


“Some private loans can carry


high interest rates that may be difficult to repay on the salary of the typical recent college graduate,” added Evelyn Manley, a Senior Consumer Affairs Specialist at the FDIC.


Choose the best repayment plan.


For federal student loans, a monthly, fixed payment over a standard, 10-year term is the most cost-effective arrangement and minimizes the total amount of interest you’ll have to pay. However, there are alternatives, including repayment periods up to 25 years, graduated repayment plans that start low and increase every year or two, and monthly payments that increase or decrease based on your annual income (for certain loans). For guidance on whether income-based repayment may be right for you, visit www.studentaid. ed.gov/ibr.


For more information for students


and parents from the FDIC, the U.S. Department of Education and other government agencies — on topics ranging from money tips for young adults to saving for college — start at www.mymoney.gov/category/topic1/ going-college.html.


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