The Pittsburgh Chapter of the National Black MBA Association made history during their recent Scholarship and Recognition gala. Celebrating their 25-year anniversary, the group accomplished what chapter president Kevin Cameron considered a “milestone.” They presented $180,000 in scholarships to 16 undergraduate and graduate students. “Today is a great day for the Pittsburgh Chapter that will go down in history,” he said. The evening was filled with excitement as scholarships and awards were presented and recognition given to the group’s Leaders of Tomorrow students.

PROGRAM PARTICIPANTS—Mistress of ceremonies Darieth Chisholm and chairman of the NBMBAA Board, William W. Wells chat before taking part in a historical evening.

Other award recipients for the evening were James K. Hayes, Ph.D., director of business development Eaton Corporation’s Electrical Sector; Juanita Buchanan-Hogan, family nurse practitioner for the Pittsburgh Public Schools; Deborah C. Hickman, owner of the Frankstown Road Giant Eagle and Carol Brosier Calloway, retired registrar and special assistant to the president for Minority and Diversity Affairs at the University of Pittsburgh at Greensburg.

Okay, I’ll admit the title is somewhat exaggerated. My second choice was “I would never recommend a reverse mortgage to my grandmother.” I think you know where I’m going with this article. I’m not a fan of reverse mortgages. In fact, I despise them. Before I go into the details as to why, let me ask you a question. If you had an opportunity to get a loan and didn’t have to make a payment during your life, would you consider it? If you answered yes, you’re easy bait for a reverse mortgage.

Prescription drug costs can take a double toll on retirees, who often live on fixed incomes and are also likely to need more—and more costly—medications as they get older. That’s why the government created Medicare Part D, a voluntary program that subsidizes prescription drugs for Medicare recipients.

If you’re eligible for Medicare, be aware that the six-week annual Part D open enrollment period for 2010 takes place from Nov. 15 through Dec. 31, 2009. Except in a few circumstances, if you miss that window you’ll need to remain in your current plan until 2011.

Banks and credit unions collected nearly $24 billion in overdraft fees last year, an increase of 35 percent from just two years earlier, a new study by the Center for Responsible lending shows. [See the full report at http://www.responsiblelending.org/overdraft-loans/research-analysis/crl-overdraft-explosion.pdf.]

The explosion in overdraft charges has drained the wallet of as many as 51 million Americans whose accounts become overdrawn annually. It is particularly harmful to financially vulnerable families already hit hard by the recession.