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I hope I don't come off as dumb, or naive for asking this. I just finished Tier IV this past Saturday, and I knew this was coming, so I have a little bit of money saved up to last me two months while I still try to find a job. I was just wondering what was the likelihood of extended benefits returning to California? Also, even if they did come back, would I be eligible? Again, sorry if this question has already been answered, or makes me sound like an idiot. I'm just almost out of options here. They won't even hire me at Target.
So far I've gotten everything but the food stamps. Since I have savings I wasn't eligible for the expedited 3-day decision. They told me I'll have an answer by the end of this month. If that goes through I can buy myself a little more time. I was thinking about going back to school since I'm eligible for a few small loans. I hate to borrow, but if having an advanced degree will help me find employment, that's a risk I'm willing to take. I'd be living on much less with the loans though, so that's why I figured I'd ask about EB. I'm naturally a frugal person, so UI wasn't too much different than my normal lifestyle. It really only changed how much I could save monthly.
If you're willing to take student loans, you'd be better off taking advantage of an intro rate on a credit card. I just got a 0% for 15 months on purchases plus $200 in points.
The intro rates on credit cards tend to be a much better deal in the shortrun than student loans, and credit cards can be discharged in bankruptcy while student loans, not so much.
Thanks for the tip on the credit card. The other reason I was hesitant to start school was because of the whole, "loans can't be discharged" deal. I already have a small amount of student loans that I know can be paid back (provided I find employment). I hate to just continue piling on the amount I owe, in the event that things get even worse before they get better.
I hope I don't come off as dumb, or naive for asking this. I just finished Tier IV this past Saturday, and I knew this was coming, so I have a little bit of money saved up to last me two months while I still try to find a job. I was just wondering what was the likelihood of extended benefits returning to California? Also, even if they did come back, would I be eligible? Again, sorry if this question has already been answered, or makes me sound like an idiot. I'm just almost out of options here. They won't even hire me at Target.
The extended benefits to 99 weeks are not coming back. Once you've exhausted Tier IV, there's no more unemployment. Sorry.
Thanks for the tip on the credit card. The other reason I was hesitant to start school was because of the whole, "loans can't be discharged" deal. I already have a small amount of student loans that I know can be paid back (provided I find employment). I hate to just continue piling on the amount I owe, in the event that things get even worse before they get better.
There are a LOT of deferral and payment plan options available with federal student loans. Go to the website and look into it...but they try to make sure you can pay.
The extended benefits to 99 weeks are not coming back. Once you've exhausted Tier IV, there's no more unemployment. Sorry.
True. At this time. And quite possibly true forever, but no one knows this for sure. We never thought we would see 99 weeks of benefits in the first place. Yes, it is unlikely...but NO ONE KNOWS for certain what will happen in the future.
True. At this time. And quite possibly true forever, but no one knows this for sure. We never thought we would see 99 weeks of benefits in the first place. Yes, it is unlikely...but NO ONE KNOWS for certain what will happen in the future.
Neither party has an incentive to bring it back, because it would be tantamount to admitting the recession "recovery" has gone poorly. Obama would have to lead the charge to get 99 weeks reinstated and he's not going to admit that unemployment is that bad after he's been in office 4+ years. Particularly with healthcare regs coming online in 2014, they don't want the political distraction.
They'll bring it back if there is an outside shock that makes it politically palatable. That means a giant earthquake or something terrible enough to throw the economy into a steep, immediate decline.
I wish we offered relocation assistence to the long term unemployed to get them to areas where there are jobs. If someone's been unemployed for 79 weeks in small town Michigan, they're screwed.
Congress did not eliminate EB. Instead, Congress failed to revise the lookback to four years, which results in 99% of the states using a TUR no longer meeting the EB criteria. This makes it far more difficult for a state to trigger "ON" to EB, but not impossible.
EB can trigger "ON" in any state at any time going forward if that state meets the 110% trigger in any one of the three lookback years used by the BLS.
As an example, in 2012, NY triggered "OFF" EB on 6/10/2012, triggered back "ON" September 10, 2012, triggered "OFF" again December 9, 2012. NY, to the best of my recollection, was a one-off in triggering "OFF" and then "ON" later in 2012. That said, triggering "OFF" and then "ON," again, is not impossible.
States closest to triggering back "ON" at present are New Hampshire (105%) and NJ (108%):
Alaska, at present, is triggered "ON" to EB and is currently paying 13 weeks. Alaska uses a 6% Insured Unemployment Rate as a measure, not the TUR.
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