ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
U.S. stocks plunged Monday, with the tech-heavy Nasdaq and broad S&P 500 posting their biggest one-day drop since September 2022, amid heightened risk of recession after President Donald Trump declined to rule one out. |
Investors freaked out, essentially, after Trump refused to rule out a recession during a Fox News interview on Sunday. |
What happens now to student loans? |
President Trump is expected to act soon on his promise to dismantle the federal Department of Education, the agency that supplies funding to public schools, enforces anti-discrimination laws and administers the Student Aid Program. |
It also oversees federal student loans held by nearly 43 million people, or one in six American adults. Now, borrowers are wondering what a shutdown will mean for their loans and repayment plans. |
Which states depend the most on federal funds? |
Four southern states rank in the top five nationally for their dependence on federal dollars, according to a new report. And a very northern state, Alaska, is the most "federally dependent" in the union, according to WalletHub. |
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | US stocks open mostly down as worries over the tariffs and the economy linger. Companies say consumer demand's slowing and Trump ups Canadian tariffs. | | | | Borrowers are wondering what will happen to their loans and repayment plans if President Trump closes the Department of Education. | | | | Four southern states rank in the top 5 for dependence on federal dollars. | | | | President Trump's expanding trade war is boosting the chances of a recession. Layoffs are rising and consumer confidence and spending are sliding. | | | | Five years after the COVID lockdowns, remote work has reshaped the housing market. | | | | Tax season usually brings a refund check for most workers, but if you're retired, you could wind up owing the IRS. | | | | Setting boundaries doesn't have to be awkward or rude; people often need guidance on when it's the right time to chat at work. | | | | A $19 strawberry, sold exclusively at Erewhon, has generated some unique reactions online. Here's what people are saying about it. | | | | Americans endlessly debate the best age to claim Social Security. If you ask economists and actuaries, the answer is actually pretty simple. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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