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Alrena Dale, 61, got $155,000 in student loans discharged through bankruptcy. Biden's new bankruptcy guidance, aimed at easing the process for borrowers, made that possible. Some attorneys told BI that the new guidance is a big help, but more outreach would be helpful. Alrena Dale, 61, had her six-figure student-loan balance wiped out after decades of payments. She's one of hundreds of borrowers who have received relief after new changes to the bankruptcy process . Advertisement Though Dale filed over five years ago, President Joe Biden's new bankruptcy guidance, which streamlined the information she needed to provide in order to qualify for relief, was a turning point in her case. In August 2023, Dale was finally relieved of her $155,000 balance, according to documents reviewed by Business Insider. Advertisement "There were no words. I was excited. I cried," Dale, who'd attended an online business bachelor's and master's program but struggled to find employment in her field, told BI. She worked multiple minimum-wage jobs at a time to afford her student-loan payments alongside her monthly expenses. "I really honestly didn't believe it until I got my discharge papers." The reason it was so difficult for Dale and many other student-loan borrowers to seek relief in bankruptcy court before 2022 is that borrowers had to prove an "undue hardship" standard, in which they had to show that they cannot maintain a minimal standard of living, that their circumstances aren't likely to improve, and that they have made a good-faith effort to repay their debt. That standard was an extremely high bar for borrowers to meet . The Biden administration's guidance changed that by establishing clearer guidelines for borrowers to meet undue hardship, and it allowed borrowers to complete a self-attestation form, allowing the bankruptcy process to move quicker and avoid investigations into their backgrounds. Advertisement Some bankruptcy attorneys told BI that the new guidance has made student-loan bankruptcy much more achievable for borrowers, with some having seen quick success after decades of stagnancy. Still, they said many lawyers are reluctant to lean into the new process, and more outreach and education on navigating bankruptcy for student loans would help. Dale said the overwhelming emotion she now feels is relief. "Knowing that I don't have to go out and work a second job just to pay it back because they've removed it for me, I really can't thank them enough," Dale said. "I have no words because I'm just happy and grateful and thankful." Advertisement 'It's given us so much hope' Bob and Tammy Branson, a bankruptcy attorney and senior paralegal, respectively, successfully represented Dale in her bankruptcy proceedings. Related stories Tammy said that over the past 25 years, it was nearly impossible to discharge their clients' student loans in bankruptcy — but after the new guidance, she said their law firm has successfully discharged over $1 million in student loans. "Now we're actually getting people not just to the point of treading water, but we're getting them out of the water," Bob said. Advertisement Dustin Baker, a bankruptcy attorney in Iowa, has seen similar success with the new guidance. Baker told BI that before November 2022, he advised his clients that considering a student-loan discharge wasn't worth their effort because it was so difficult to achieve, and he didn't want to take his clients' money for litigation he wasn't confident would be successful. But once the guidance was announced, Baker said he's eliminated student debt for about a dozen of his clients, with a few more in the pipeline. He said his "biggest excitement" with the new process is the self-attestation form, which directly tells borrowers the questions they need to answer to get approved for a discharge, making communication between the borrower and the government easier. The Justice Department released new data in July on how the process was going since the new guidance was announced. It showed that 588 new cases were filed from October 2023 to March 2024 — a 34% increase from the prior 6-month period. New data BI obtained from Sen. Elizabeth Warren in October showed that nearly 900 borrowers sought out the process in fiscal year 2024, and 85% of borrowers who filed using the new guidance received a full or partial discharge. Advertisement Baker said his experience incorporating the new guidance into his work was "very easy," and he added that members of the Justice Department gave attorneys in his area training sessions. However, Tammy and Bob said more education and outreach would be helpful because some lawyers are unsure if the new process is worth it. Still, it's clear the guidance works, and Tammy said she hopes that continues. "It's given us so much hope," she said. Advertisement 'I would've had to work another job' The new bankruptcy process for student-loan borrowers still isn't perfect. Igor Roitburg, a former attorney and senior managing director at Stretto — a bankruptcy services and technology firm — told BI that the timeline for borrowers to receive a bankruptcy decision can still widely vary and that uncertainty is a roadblock for some borrowers and attorneys to participate. "For them to invest time and effort into a new process that they're uncertain about if they don't see results for months and months and months, makes it hard for them to commit to the process and offer it as a global service to all their clients," Roitburg said. Dale said she saw no other option but to file for bankruptcy, regardless of whether it would be successful. Once the new guidance was released, the self-attestation form allowed Dale to prove that her financial circumstances were unlikely to improve, qualifying her for relief. Advertisement She now works at a call center and said she can't afford to retire yet. If she had the opportunity to do things differently, she might have considered going to a trade school to avoid the student-debt burden. "I'm just making the best of what I have to work with right now," she said, adding that if she didn't see success through bankruptcy, "I would've had to work another job just to pay the student loans." Have you successfully discharged your student loans in bankruptcy? Are you struggling with the process? Share your story with this reporter at asheffey@businessinsider.com .
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Little was known about the bound book from colonial Mexico that had been donated to the library in 1911 by Edward Ayer, a collector and a tycoon who made his fortune supplying ties to railroad companies. It was called “Ayer 1485′′ in the library’s catalog. But then, two years ago, pages of the manuscript were projected onto the big screen at a Nahuatl conference at Harvard University where experts of the Aztec language had gathered, their first conference since the pandemic. It was like a family reunion, one attendee remembered. At the podium was Ben Leeming, an independent scholar who studies Nahuatl writings used to evangelize Native peoples. While Leeming showed images of the manuscript — a collection of sermons by famed Franciscan missionary Bernardino de Sahagún — and discussed the significance of the words on its pages, Barbara Mundy became slightly preoccupied with the pages themselves. “Of course I’m interested in the text, but what really, really drew my attention was the slides of different pages from this manuscript,” said Mundy, a Tulane University art history professor. “And I said, ‘Ben, could we zoom in on that paper?’ Because the manuscript, which was a big manuscript, was clearly done on a paper that was not European.” Prompted by Mundy’s hunch, the Library of Congress analyzed the papers this fall and made an astounding discovery. The manuscript was printed on maguey paper, a type made from pounded agave plants that is so rare that only 10 sheets were known to exist: four at the Library of Congress and six at the National Library of Anthropology and History in Mexico City. The Newberry’s Library’s manuscript is about 49 sheets long. “When the results did come back, it was very exciting,” said Kim Nichols, the library’s director of conservation. “It’s always exciting ... to see for whatever reason, that something ancient survives. There’s so many reasons why it’s lost.” According to the library’s records, Ayer acquired the manuscript in 1886 from a London rare book dealer. Its first known owner was a Mexican collector and bibliophile, and at least two people owned the manuscript between the Mexican collector and the London dealer, records show. The manuscript, titled “A Sequence of Sermons for Sundays and Saints’ Days” and written by Sahagún between 1540 and 1563, was among the roughly 17,000 items related to Native peoples that Ayer, a Newberry trustee, donated to the library. Theories about its pages being made of maguey have existed since at least 2000, when a library staffer speculated it was such in a conservation report from November of that year. In a 2017 report, a staffer placed a question mark in parentheses next to a guess that it was maguey. At first, Mundy believed the manuscript was made of another type of Native paper, amatl paper. Leeming told her he thought the paper was amatl, she said. But he wasn’t sure. He hadn’t seen much Native paper. Few conference attendees had. Only four amatl and no maguey manuscripts that are definitively pre-Hispanic have survived, according to Mundy. The surviving amatl manuscripts are from the Maya region, which is in the eastern half of Mesoamerica. Most manuscripts from the earliest moments of contact between Europe and the Americas — known as colonial-era manuscripts — are made out of European paper. The Florentine Codex — an encyclopedia of Aztec history and belief written by Sahagún, the main source of what is known about the Aztecs — was written on 2,400 pages of paper imported to Mexico from Italy. All surviving maguey manuscripts, including Sahagún’s sermons, are colonial-era manuscripts. Sometime after the arrival of Europeans, maguey papermaking stopped and the technology went extinct, according to an International Council of Museums publication. Amatl paper, which is made from the inner bark of fig trees, was more common than maguey paper, which is made from the same plant as tequila. Amatl paper is still being produced today. There are hundreds of surviving colonial-era amatl manuscripts, but most are a single sheet long. In a Newberry article from 2022, when Mundy thought Sahagún’s sermons were written on amatl, she wrote that 49 sheets, or “196 pages is a lot of amatl paper, perhaps the largest collation of amatl paper to exist today.” After the Nahuatl conference, Mundy returned to Washington, D.C., where she had a fellowship at the Library of Congress. She told Mary Elizabeth Haude, a Library of Congress paper conservator, about what she saw during the conference. During the summer of 2022, the pair visited the Newberry to see Sahagún’s sermons. Haude said that during the visit, she didn’t think the manuscript was made of amatl because of her familiarity with the Huexotzinco Codex — the Library of Congress’ maguey manuscript, which is made of four sheets of maguey and four sheets of amatl. “I have also been to Mexico and looked at their manuscripts on maguey,” Haude said. “As a conservator, I really have an eye for materials. But that being said, I couldn’t definitively say it was one paper or another until we did fiber analysis.” Nichols began working at the library in late 2022, and a bit of time passed before she was up to speed on the inquiry into Sahagún’s sermons. This fall, Nichols got out Sahagún’s sermons and put drops of deionized water on the manuscript in several spots to make the fibers there more malleable. While using a microscope, she extracted some of those fibers with tweezers. “Under the microscope it looks like a chunk, but when you drop it into a little plastic vial with a snap lid, it looked like it just disappeared into the void,” Nichols said. She sent several vials to the Library of Congress and Haude, who removed the fibers from the vials, mounted them on microscope slides and peered at the slides. “Maguey tends to have this stray fiber — spiral thickenings, I think, is what they’re called. And when they become undone, they make this zigzag pattern, and it’s very, very specific,” Haude said. “So we saw that right away.” ‘It wasn’t just that the paper was rare’ Maguey — a Spanish word for agave plants — has been used to make everyday items like baskets in Mesoamerica since prehistoric times, according to the International Council of Museums publication. It has been used in rituals, and Aztec religion included a goddess of maguey. The four Library of Congress maguey sheets and five of the six maguey sheets in Mexico City are pictorial, meaning they’re drawings, according to Haude. Some of the Mexico City sheets are genealogies, while the Library of Congress sheets served as testimony in a legal case. In the Harvard classroom, Mundy was transfixed by Sahagún’s sermons because of the important role of paper in rituals of Native Mesoamerican peoples, she said. It was used to absorb blood and then burnt in honor of the gods. It was used to make deity costumes. Mundy was “astounded” that paper that was “religiously charged” in the eyes of Native people was dragged into the new Christian world, she said. “It was a Christian manuscript on Native paper, which carried all of this pre-Hispanic religious significance,” Mundy said. “That’s what really caught my attention. It wasn’t just that the paper was rare.” Sahagún arrived in Mexico in 1529, about a decade after the Spanish conquest of the Aztec Empire led by conquistador Hernán Cortés. Sahagún believed that better understanding of Native peoples’ “beliefs and practices would improve efforts to convert them to Christianity,” according to the Library of Congress. In the Newberry article, Mundy wrote that while Sahagún worked with Native peoples, he was surrounded by Nahuatl-speaking intellectuals who embraced Christianity, taught Sahagún Nahautl and helped translate Christianity for Native audiences. Because every other surviving Sahagún manuscript was made of European paper, it’s likely that using maguey paper for the sermons was a choice of Sahagún’s Native collaborators, Leeming said. “The paper may have not been Sahagún’s election, but that of his Native collaborators, who saw fit to set Christian sermons down on the substrate that they regarded most highly,” Mundy wrote in the Newberry article. Leeming, who recently produced an English translation of the sermons, said the recent revelation about the manuscript can help correct a lopsided narrative concerning the earliest moments of contact between Europe and the Americas. “This discovery helps balance a historical narrative that has long focused on the role of Spanish friars like Sahagún,” Leeming wrote in an email to the Tribune, “and has relegated the Native people who assisted him to the shadows.”State Administration Council Chairman Prime Minister Senior General Min Aung Hlaing sent a video speech to the ceremony marking the 60th Anniversary of the University of Economics of the Ministry of Education on 13 December 2024. The full text of the translated message is as follows: – Everybody, Mingalaba! First of all, I would like to extend my best wishes for the health and well-being of all the distinguished guests and responsible individuals who attended today’s ceremony commemorating the 60th anniversary of Yangon University of Economics. This includes officials from the State and regional governments, scholars, rectors and faculty members from universities, students, and invited dignitaries. Yangon University of Economics, which was established in 1964, celebrates its 60th anniversary in 2024. It is a source of pride and joy to be able to commemorate this 60th anniversary with such a grand and vibrant celebration. Economists play a crucial role in driving the continuous economic development of a country. The 60-year history of Yangon University of Economics, which has been nurturing such vital economists, is indeed a source of pride. Looking back at the history of Yangon University of Economics, it can be seen that it was established in the 1923-1924 academic year as the Faculty of Economics under Yangon University. Initially, only the subject of Economics was taught. Later, in the 1940-1941 academic year, the subject of Commerce was introduced, followed by accounting in 1953. By 2024, the Faculty of Economics reached its centennial milestone. On 7 September 2024, the centenary celebration of the Faculty of Economics was held. In 1955, the Department of Economics and the Department of Accounting were able to be organized as separate faculties. In addition to these three faculties, the Departments of Psychology, Political Science and History, and Sociology and Social Work were merged to form the Faculty of Social Sciences in 1958. According to the University Education Law of 1964, the Institute of Economics was established as a separate university on 1 October 1964. Teaching began on 2 November 1964. The Institute of Economics became the only university in Myanmar specializing in economic disciplines. In 1964, due to the integration of four supporting departments — Myanmar Language, English Language, Geography, and Mathematics — there were a total of seven teaching departments. In 1966, the Department of Research and Management Studies was established at the University of Economics (Hline Campus), which marked the beginning of national research initiatives. On 5 February 1988, under a new university organizational setup, the core departments were reorganized, with the Applied Economics Department and the former Research and Management Department being restructured as the Department of Management Studies. In 2021, the Department of Applied Statistics was expanded, bringing the total number of teaching departments to ten. With the aim of regional economic development, the Monywa University of Economics and the Meiktila University of Economics were established after 1998. As a result, with the addition of these three economics universities, the original University of Economics was renamed Yangon University of Economics. In the year 2000, the Yangon University of Economics (Ywathagyi Campus) was officially opened, and it has since been joined by two other campuses in Kamayut and Hline, making a total of three university campuses. At these campuses, various academic programmes are offered, including undergraduate, honours, Master’s, and PhD courses, as well as post-graduate diploma courses. Degree programmes such as Bachelor of Economics, Bachelor of Commerce, Bachelor of Business Administration, Master’s in Economics, Master’s in Commerce, Master’s in Business Administration, and Diploma in Management and Administration (DMA) have been offered since before 1964. Additionally, PhD courses have been available since the 1998-99 academic year. In addition, to align with the market economic system being practised in the country, it was observed that in 2001, courses for accounting degrees, business management degrees, development studies degrees, public administration degrees, and demography degrees were introduced. Furthermore, in 2003, a Master’s degree in Statistics was launched, and in 2004, a Master’s degree in demography was also offered. In order to fulfil the economic goals of the nation and meet market demands, the Yangon University of Economics launched the Master of Business Administration (MBA) programme in 1995, under the Human Resource Development Programme. Since then, it has successfully produced 2,920 MBA graduates. The Master’s in Public Administration (MPA) programme was launched in the year 2000, with a total of 1,631 graduates. The Master’s in Development Studies (MDevS) programme began in 2002, producing 924 graduates. The Master’s in Banking and Finance (MBF) programme, aimed at systematically developing Myanmar’s banking and financial sectors, was started in 2012 and has since graduated 637 MBF individuals. Since 2017, it has been observed that various master’s degree programmes, including Master of Applied Statistics, Master of Marketing Administration, Master of Hospitality and Tourism Management, Master of Social Entrepreneurship and Innovation, and Master’s degrees in Insurance Business and Insurance Science, have been expanded and made available. The Human Resource Development Programme, which began in 1998, has also been able to offer additional training courses, including the Diploma in Development Studies (Dip DS) for university graduates, the Postgraduate Diploma in Marketing Management (PGDMM), the Postgraduate Diploma in Human Resource Management (PGDHRM), and the Postgraduate Diploma in Research Studies (PGDRS). After successfully completing the university entrance exam, programmes such as the Certificate in Business Studies (CBS) and Certificate in Advanced Business Studies (CABS) were introduced to enhance business knowledge and skills. These programmes are designed to help individuals improve their understanding of business concepts. Additionally, those who successfully completed these courses were also given the opportunity to pursue further studies with the Diploma in Business Studies (DBS). Since 2019, Yangon University of Economics has been offering remote degree programmes under the “One Campus, Two Systems” initiative, providing specialized courses in Economics and Business Management. In order for the country to develop and progress, it is necessary to widely distribute the economic knowledge needed. Therefore, as experts from Yangon University of Economics, we have observed the involvement in various programmes and training sessions at institutions such as former workers’ college, distance education universities, National Management Degree College, project department, the Auditor-General Office, Civil Services Academy (Lower Myanmar), educational management training schools, the Ministry of Foreign Affairs, and the National Defence College. In addition to delivering lectures on relevant subjects, there is also active participation in supervising and inspecting theses. As a government, in line with the economic objectives we have adopted, we are working to enhance the nation’s economic driving force through MSME businesses to promote exports. To achieve this, skilled human resources are necessary. Therefore, during the 2022-2023 academic year, the Yangon University of Economics led the initiative to open BA (Economics) degree programmes at 39 universities of arts and science. In the future, graduates with a BA (Economics) degree will be able to use their economic knowledge and perspectives to contribute to the development of their regions and the progress of society. Since 1964, for 60 years, Yangon University of Economics has produced 110 graduates with doctoral degrees, 7,587 with master’s degrees, 61,850 with bachelor’s degrees, 1,217 with honours degrees, and 7,708 with diploma certificates. Currently, the university is continuing its educational programmes with 4,359 on-campus students and 4,618 distance-learning students enrolled. Graduates with an MBA from the Universities of Economics are now skilled entrepreneurs in various sectors of private businesses and are working as senior managers in the field of management. Graduates with an MDevS degree are successfully working in the government sector, private sector, and NGOs and INGOs. Those with an MBF degree can also be found in senior positions as experts and managers at the Central Bank of Myanmar, government and private banks, and financial organizations. I would like to express my gratitude and pride as I recognize that graduates of business schools are contributing to the nation’s development. They serve as skilled public servants, private sector employees, and business leaders, making significant contributions in various sectors for the economic and social progress of the country. Similarly, graduates of Yangon University of Economics are also found to be prominent figures in various fields such as politics, economics, and social affairs. Among the graduates of the university are individuals who hold senior positions in the government, including the President of the country, Union Ministers, Union Auditors-General, Central Bank Governors, advisors, Chief Ministers and Ministers of States and Regions, Deputy Ministers, and Directors-General. This is a source of pride and admiration. In recognition of the 60th anniversary of Yangon University of Economics, which plays a key role in the nation’s development, a series of events will be held, including an exhibition of historical photographs showcasing the growth of the university, research paper readings, and research poster presentations. Additionally, a ceremony will be held to honour the distinguished professors and faculty members who have taught over the years, and a grand commemoration event will take place to celebrate this milestone. Yangon University of Economics has completed its 60th anniversary and, as a prominent institution, has contributed significantly to the country’s economic and social development by nurturing exceptional individuals who excel in various fields. Moving forward, may it continue to produce knowledgeable and talented generations who value and take pride in their education. I wish for the university to remain permanently steadfast, thriving, and perpetual existence from the celebration of the 60th anniversary and beyond. Thank you all.
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Photo: Bluedrop Training & Simulation KF Aerospace and the SkyAlyne partnership inked a pair of 25-year contracts this week that will help them deliver the Royal Canadian Air Force’s Future Aircrew Training program. SkyAlyne, which is a joint venture between Kelowna’s KF Aerospace and Montreal’s CAE, on Wednesday signed a 25-year contract with Bluedrop Training & Simulation. The move came one day after SkyAlyne announced a 25-year deal with IT firm CGI. Bluedrop is a Halifax company that designs and develops advanced training solutions, including interactive courseware and state-of-the-art visual and augmented reality training. “Building and then delivering the Future Aircrew Training program to the RCAF is a monumental undertaking, which requires top-level expertise and know-how, which is why it is so important to have Bluedrop part of Team SkyAlyne,” SkyAlyne general manager Kevin Leake said. “As SkyAlyne works on military aircrew training solutions, it’s important that our team is made up of the best companies, with strong track records of success, from all across Canada.” Bluedrop has a history of contributing to RCAF training, which no doubt played a role in its being chosen by SkyAlyne. “As a small/medium enterprise, it is a tremendous opportunity to be a part of team SkyAlyne and the FAcT program for the coming 25 years,” Bluedrop CEO Derrick Rowe said. “Our team at Bluedrop provides exceptional know-how and superior levels of support to our customers. “The future of aircrew training increasingly includes simulation, virtual reality, and augmented reality systems. Bluedrop is positioned to advance the program and maintain relevance for the long-term.” Bluedrop’s contributions to SkyAlyne in this contract include provision and configuring of software components, development and continuous improvement of courseware in Moose Jaw, Sask., and Southport, Man., and providing maintenance technicians in Moose Jaw. SkyAlyne on Tuesday it selected CGI to deliver comprehensive suite of services, including cybersecurity, cloud computing, end-user services and infrastructure management. “CGI is perfectly positioned to help shape and execute our information technology roadmap and infrastructure and help us drive operational excellence,” SkyAlyne’s senior executive Kevin Lemke said. “This partnership will help SkyAlyne deliver a world-leading military aircrew training solution to the Royal Canadian Air Force, ensuring RCAF aircrew are equipped with the skills and capabilities necessary to succeed in challenging conditions at home and around the world.” CGI was founded in 1976 and is among the largest independent IT and business consulting services firms in the world, with 90,250 consultants and professionals.Nobody will mourn the fall of monster Bashar-al-Assad – a dictator who tortured and gassed his own peoplechoi dongsu/iStock via Getty Images If you read my last analysis of Amazon.com, Inc. ( AMZN ), you'll see that as a long-term investor, I value certain characteristics such as innovation, opportunities to explore new markets, and wide moats. Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOGL, AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.