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U.S. Supreme Court struck down Biden’s student loan forgiveness plan. What now?

Published

2 years ago

July 10, 2023

The student loan forgiveness plan was a second chance for many. So what happens next for thousands of students who are struggling to make ends meet already?

When the Supreme Court struck down the Biden administration’s student loan forgiveness plan, for many people it was a case of what next?

Already dealing with higher living costs, a struggle to find a real good paying job.

And while the President tries to find a way to help the younger generation, many of whom are more likely to vote for him next year, the simple fact is this- The secretary of education does not have the authority to forgive US$430 billion of student loans.

That kills the president’s proposed plan to forgive up to $10,000 in student loans per borrower.
It’s a significant sum, especially for low income earners.

“There’s not a county in this country where someone can rent a one bedroom apartment on minimum wage salary right now,” said independent journalist Andrew Hirschfeld.

“So if you have all of this money going to paying off student loans, especially with the predatory interest rates that are generally across the board it puts your life on hold in a lot of ways.”

Related Topics:biden Featured Students Supreme Court

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Trump’s “very productive” deal: What’s behind the U.S.-China agreement?

US and China agree to new terms amid trade war, following productive talks between Treasury Secretary Bessent and Vice Premier He.

Published

15 hours ago

May 12, 2025

Ahron Young

US and China agree to new terms amid trade war, following productive talks between Treasury Secretary Bessent and Vice Premier He.

The United States and China have reached a new agreement amid an intensifying trade war between the world’s two largest economies. This comes after US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held their first in-person talks since the imposition of heavy tariffs on both sides.

President Trump has described the discussions as “very productive,” signaling cautious optimism as financial markets remain volatile and American consumers feel the pinch of rising prices. Secretary Bessent addressed reporters after long negotiations, underlining the urgency both sides felt to de-escalate the stalemate.

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U.S. and China strike surprise trade deal

US and China reach a significant trade deal amid tensions, signaling thawing relations, while the UK secures symbolic concessions; insights from economist Tim Harcourt.

Published

15 hours ago

May 12, 2025

Ahron Young

US and China reach a significant trade deal amid tensions, signaling thawing relations, while the UK secures symbolic concessions; insights from economist Tim Harcourt.

In a stunning development amid rising tensions, the United States and China have agreed on a new deal as part of their ongoing trade war.

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held the first in-person meetings in years, signaling a potential thaw in relations.

President Trump called the talks “very productive.”

Meanwhile, the UK has managed to score key trade concessions from the US, including on autos, jet engines, and steel—although the benefits may be more symbolic than substantial. Could this deal impact Australia’s trade position?

We unpack the details with Professor Tim Harcourt, Chief Economist at UTS and host of The Airport Economist.

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Inflation data, earnings reports, and market trends to watch

Investors focus on inflation data, trade meetings, Fed remarks, retail sales, and key earnings reports this week.

Published

22 hours ago

May 12, 2025

Ahron Young

Investors focus on inflation data, trade meetings, Fed remarks, retail sales, and key earnings reports this week.

In Short:
Inflation data will be a key focus this week, alongside trade meeting results and important earnings reports. Investors will monitor Fed Chair Jerome Powell’s remarks and various economic indicators, including retail sales and sentiment surveys.

Inflation data set for Tuesday is expected to be a focal point this week.

Investors will also assess the results of recent U.S. and Chinese trade meetings following a quiet Friday that saw stock declines for the week.

On Thursday, remarks from Fed Chair Jerome Powell will be closely monitored as he faces pressure from President Donald Trump regarding interest rate decisions.

Retail sales figures will also be released on Thursday, coinciding with Walmart’s earnings report.

Key earnings announcements this week include those from Cisco Systems, Alibaba Group, Deere & Co., Applied Materials, and Take-Two Interactive.

In addition, consumer and small business sentiment surveys, along with data from the homebuilding and manufacturing sectors, may also draw interest.