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After 30 years in aerospace, these brothers retired from corporate life and work at Disney


Americans are retiring later and picking up part-time work to cushion their savings, pursue a long-lost passion, or simply fill the extra downtime. After sunsetting their decades-long careers in the aerospace industry, brothers Jerry and Peter Wong decided to add a bit of magic to their lives by working at Disney.

Jerry Wong, 66, is a photographer snapping pictures of park-goers at Disneyland Resort in Anaheim, California. He joined as a photographer four years ago, the same year he wrapped his career as an engineer at aerospace and defense giant Northrop Grumman. He began as a summer intern in 1979, and went on to lead a four-decade career at the $75 billion company. Jerry worked on ground communications for government contracts—picking up people skills he now uses at Disney—and later retired from the profession in 2022. 

But a blank calendar left him restless, and after just four months, he began hunting for another gig. He and his brother, Peter, had been going to the amusement parks since 1967, and wanting to stay busy and reconnect with that childhood nostalgia, he looked into what Disney jobs were available.

Courtesy of the Wong brothers

The baby boomer found a part-time role in photography—a hobby he had picked up from his dad as a freshman studying at UCLA. By October that year he was suited up in photography blues and armed with a professional camera, capturing the magical moments at both Disneyland Park and Disney California Adventure Park. Jerry currently works around 14 hours across two or three days a week during the off-season, and 32 hours on a five-day schedule when the holidays roll around. For the retired engineer, the job is less about the paycheck than the people and the experience.

“I don’t know if I would call it a second career…the term career is something that you’re there because it’s something you need to do to support yourself, or to create a long-term lifestyle,” Jerry tells Fortune. “Working post-retirement, it’s a different perspective. From a personal point of view, there’s no stress. I’m enjoying myself…I’m here because I choose to be here.”

But Jerry might not even be working at the park if it weren’t for his youngest brother, Peter Wong. He had already made the leap years before, showing Jerry the upsides of adding a Disney gig to the leisurely schedule of corporate retirement.

Retiring from desk jobs and working at Disneyland: ‘I’m finished with being married to my laptop’

63-year-old Peter was the first of the Wong brothers to add a Disney job to his retirement schedule. 

The former finance worker wrapped up his own aerospace career back in 2017, winding down from a three-decade career of crunching financial figures. He began working in fixed asset accounting at Hughes Electronics in 1987—an aerospace company that had been purchased by automotive giant General Motors.

One decade later, U.S. defense contractor Raytheon snapped up Hughes during a major consolidation of aerospace companies. Peter was responsible for the financial planning rates and budgets of seven facilities across America. Around 30 years into his career, a buyout offer pushed him to throw in the towel—the $271 billion contractor offered special golden handshake packages for employees from the legacy Hughes days. Peter took the deal, and phased into retirement.

But just one year later, the retiree was back on his feet working the rides at Disney California Adventure. For Peter, it also meant reconnecting with the special moments in his life, from his memories of going to Disney every year with his Hong Kong relatives, to proposing to his now-wife on the Skyway ride (which closed in 1994). 

“I’m finished with being married to my laptop and phone all day and night,” Peter tells Fortune. “I want to do something to make magic for people.”

Now, Peter is a Disney attractions host bringing the park to life while keeping guests safe on the rides. He works two to three days a week, around 14 hours in total, and during the holidays and busy season, he’ll take up to 28 hours. The job required some adjusting; having worked an office job his entire career, it took time to get used to being on his feet everyday.

He was trained at Redwood Creek Challenge Trail at Disney California Adventure, and still splits his time between working the attraction and flight ride Soarin’ Across America. For hours each workday, Peter suits up in wilderness outfits and Disney vests, greeting guests while getting a peek behind the rides.

“I wanted attractions because of the face-to-face interaction with the guests, and also learning how the attractions work,” Peter explains. “As a guest, you just see the person pushing the button…But you don’t see all the intricacies involved with actually working the attraction.”

Disneyland Resort photographer Jerry Wong (L) and attractions host Peter Wong (R).

Courtesy of the Wong brothers

Due to their differing schedules, the Wong brothers don’t often get the chance to meet up while on the clock. There is the off chance that they’ll spontaneously stumble into each other while working a shift, Peter says, but oftentimes they just go to Disneyland together as annual pass holders.

Having worked there for several years now—and seeing the way things have changed since being kids in the 1960’s—Jerry and Peter are reconnecting with the place that has been part of their lives for nearly six decades. And they’re passing that whimsy onto thousands of visitors around the world every week. 

“I look at the pictures that our parents took of us in ’67…I can remember exactly what ride we had to go on first, which was Pirates [of the Caribbean], because it first just opened up,” Jerry recalls. “As a photographer, it’s the same thing. In that one or two minutes that I get with the guests, I create a lasting memory for them.”

Mortgage Bankers Association sues to block New Jersey’s new disparate-impact rule


For mortgage companies, the association says the practical problem is compliance. The suit claims the rule reaches the everyday tools lenders rely on – credit history, income standards, and other underwriting and pricing measures. State officials, the filing says, have flagged credit history, criminal history, and minimum income requirements as practices the rule covers, and have said its provisions on automated decision-making tools apply to lending. 

The association’s central argument is that New Jersey threw out limits the US Supreme Court set in a 2015 ruling, Inclusive Communities – limits the group says keep disparate impact law from sliding into what it calls unlawful “racial balancing.” Under the rule, the filing claims, someone challenging a lender’s policy can point to broad national, state, or census figures rather than the lender’s own applicants, and does not have to show the gap is large or statistically meaningful. In housing and home lending, the suit says, the rule also makes the business prove there was no less discriminatory way to reach the same goal – a reversal of how the group says federal law works. 

That, the association says, boxes its members in. It argues the surest way to avoid liability under the rule is to make race-conscious choices – which, it says, federal law forbids. The suit points to a line in the rule stating that an “interest in achieving diversity or increasing access for underrepresented or underserved members of a protected class” can, on its own, justify a challenged practice. The Equal Credit Opportunity Act and the Fair Housing Act, the group says, bar creditors from considering race in a credit decision. 

The MBA represents more than 2,000 members across real estate finance, over 60 of them based in New Jersey. Every member that lends in the state, it says, must now spend money checking whether its underwriting, pricing and servicing produce uneven results across protected groups that could expose it to a claim under the rule – costs the group calls unrecoverable and ongoing. Lenders that also operate elsewhere may have to run a separate New Jersey rulebook, adding more expense. Members that own and manage rental housing face the same review of how they screen tenants. 

The lawsuit makes two claims: that the rule breaks the Constitution’s guarantee of equal protection, and that federal law overrides it. The association is asking the court to strike the rule down and block it statewide, or at least to carve out the parts covering housing and home lending. 

Senators Demand ED Account for $1 Billion Student Loan Fund as Defaults Hit 9M


United States Senator Elizabeth Warren (Democrat of Massachusetts), questions Kevin Warsh at a Senate Committee on Banking, Housing, and Urban Affairs hearing to examine the semiannual monetary policy report to the congress, in the Dirksen Senate Office Building Washington, DC, on Wednesday, July 15, 2026. 
(Photo by Mattie Neretin/Sipa USA)

Key Points

  • The One Big Beautiful Bill Act set aside $1 billion for the Education Department to cover “administrative costs” of the federal student loan program, with no reporting requirement attached.
  • ED’s own FY2027 budget request shows it had spent roughly $216 million of that money by the start of the year and expects more than $450 million to still be unspent when FY2027 begins, without saying where any of it went.
  • Senators want an itemized accounting and a commitment to monthly public reporting by September 16, arguing the money should go toward the nine million borrowers now in default.

Four Senate Democrats want the Department of Education to provide answers on how it spent a $1 billion student loan administration fund created by last year’s One Big Beautiful Bill Act. In a September 2 letter to Education Secretary Linda McMahon (PDF File), Senators Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.), Cory Booker (D-N.J.), and Chris Van Hollen (D-Md.) say the agency has already spent roughly $216 million from the fund without explaining what it spent them money on. Meanwhile, the number of borrowers in default has climbed to a record high.

The $216 million figure comes from the Department of Education’s own Fiscal Year 2027 budget request, which reports that amount obligated as of the start of FY2026 and projects that more than $450 million will still be unspent when FY2027 begins. The senators note that Section 82005 of the OBBBA requires the money to go toward “administrative costs” of the federal student loan program, including servicing, but built in no reporting or oversight requirement.

The Senators want answers by September 16, 2026.

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Why It Matters

When the OBBBA was in discussion, this $1 billion fund was designed to help the Department of Education pay for the massive amount of changes required as part of the bill. However, the current request from Senators is two-fold: show us where you’re spending the money, and if you don’t have a good use for it, use it to help borrowers in default.

The senators point to Federal Student Aid portfolio data showing that the number of borrowers in default has nearly doubled to nine million since January 2025. Our own tracking of Education Secretary McMahon’s testimony found roughly one in four borrowers is now delinquent or in default, and New York Fed data showed 3.6 million borrowers defaulted in a single quarter after collections resumed.

This oversight comes at a critical junction for many borrowers. Roughly seven million SAVE plan borrowers are being pushed off the plan, and the senators cite a National Consumer Law Center analysis warning that borrowers who don’t pick a new plan will be auto-enrolled in Standard repayment – which could be the most expensive option.

The senators argue that combination puts millions more at elevated risk of default just as ED sits on hundreds of millions in unspent administrative dollars.

What The Senators Are Asking

The letter poses three sets of questions:

  1. An itemized accounting of the first $216 million. Specifically, how much went to student loan servicers (and for what work), how much supported the ED-Treasury interagency agreement moving loan administration out of ED, how much hired new FSA staff, how much went to FSA’s website, and how much funded outreach to borrowers already in default or at risk of it. They also want the criteria ED used to decide.
  2. The same breakdown for everything spent since FY2026 began, plus whether ED still expects more than $450 million to be left at the start of FY2027, and itemized spending plans for the rest of the money both before and after that date.
  3. A commitment to monthly public reporting on how the fund is used going forward.

The letter notes that ED’s only public statement on the fund so far is a court declaration in the Sweet v. McMahon borrower defense case, which said an unspecified amount would pay for attorneys to adjudicate those claims.

Where The Senators Want The Money To Go

Beyond transparency, the letter tells Education Secretary McMahon what the Senators believe the fund should be spent: on “whatever measures are necessary” to pull borrowers out of default and keep others from entering it.

The senators offer three examples. First, expanded outreach to borrowers who are behind or already defaulted, a group that is now dealing with Treasury as its collector.

Second, better FSA customer service so struggling borrowers can actually get into affordable plans — a sore point since layoffs left dozens of FSA offices with no staff.

Third, rehiring the servicer oversight team the administration cut in early 2025, which a March GAO report tied to gaps in servicer accountability.

It’s important to note that the Senators are not asking for any of the funds to be used to pay off or relieve borrowers of their debts.

How This Connects

This is the latest in a string of oversight demands from the same group of Senators. In June, Warren and Merkley led 62 lawmakers pressing ED to act on what they called the largest default crisis on record.

Last week, they opened an investigation into MOHELA over false delinquency notices sent to borrowers, the kind of servicer error the letter says a restored oversight team would catch. And the GAO finding that FSA halted routine servicer reviews gives the servicer oversight ask a documented basis rather than a political one.

The student loan fund is one of the few places where the July 1, 2026 OBBBA added money instead of removing options. The law eliminated Grad PLUS, capped parent borrowing, collapsed repayment plans into two choices, and ended SAVE. These changes make loan servicing more complicated in the near term and gave ED a plausible reason to spend money on implementation.

What the senators are contesting is whether implementation, the Treasury transfer, or litigation is absorbing dollars that could have gone to borrower outreach.

What’s Next

The Department of Education’s response is due September 16. Watch for whether the department releases any itemized breakdown or simply cites the budget justification again.

A commitment to monthly reporting seems unlikely without a statutory requirement, but the FY2027 appropriations process gives Democrats a chance to attach one.

For borrowers, the more immediate signal is how FSA handles the first wave of SAVE borrowers hitting their 90-day deadlines this month. That’s where any customer service spending from the fund would show up first.

Editor: Colin Graves

The post Senators Demand ED Account for $1 Billion Student Loan Fund as Defaults Hit 9M appeared first on The College Investor.

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