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Monday, 29 August 2022

The Daily Money: The debate over Biden's student loan relief plan

Ever since President Joe Biden introduced his plan to forgive up to $20,000 in student loan debt, discussion over the decision has only intensified. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Monday, August 29

It's Monday, Daily Money readers. Hope you enjoyed a relaxing weekend. It's Brett Molina with your top headlines.

Thursday marks the start of September, which means we're close to fall and football. If you are a fan of Starbucks, one of the first signs we're about to change seasons is the arrival of the pumpkin spice latte.

On Monday, Starbucks confirmed it will bring back its popular beverage, also known more casually as the PSL, on Tuesday, Aug. 30. Hard to believe it's been 19 years since the drink made its debut and thrust us into a world of pumpkin spice (once upon a time, pumpkin spice spam was a thing).

Student loan relief draws intense debate

Ever since President Joe Biden introduced his plan to forgive up to $20,000 in student loan debt for millions of Americans, discussion over the decision has only intensified.

Grateful borrowers and supporters jumped on social media to sing the plan's praises, but there was a noticeable group of critics who paid off their student loans showing resentment over the plan. Most of the anger came from opponents who worked hard to pay off loans only to watch others have their debts forgiven. Other critics were upset about having to use tax dollars to pay for this plan.

My USA TODAY colleague Charisse Jones writes about why people who paid off their student loan debt shouldn't scoff at this new plan:

"If you made your last student loan payment before Biden's reprieve, your disappointment is justified. If you are worried that inflation could rise because up to 43 million borrowers may soon have extra money in their pockets, that's understandable. 

But there would never be progress on any societal challenge or injustice if the litmus test was that the solution must benefit everyone, or that it shouldn't be done because others didn't have the same opportunity."

📰 More stories you shouldn't miss 📰

Remember that $1.34B Mega Millions jackpot? No one has claimed it yet. What happens next?

More on student loan forgiveness. How will the plan directly affect you?

Having Wi-Fi trouble? Five reasons you might need to replace your router.

National parks. This location was ranked the best for seniors and accessible travel.

🍔 Today's Menu 🍔

The launch of NASA's Artemis I moon mission might have been scrubbed, but you can still celebrate. For Monday only, Krispy Kreme is offering a special Artemis I themed doughnut , which is topped with a galactic-like swirl of cookies and cream frosting and stuffed with cheesecake flavored filling. 

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Follow Brett Molina on Twitter: @brettmolina23.

Student loan debt holders protest outside the White House staff entrance on July 27, 2022, in Washington, D.C.
Student debt forgiveness has sparked debate, but benefits are immense
Biden's student loan forgiveness plan sparked fierce debate, but change can't happen if we only approve policies that benefit everyone.
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Resentment to celebration: Reactions to student debt forgiveness vary
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The Mega Millions jackpot is an estimated $82 mill
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Federal Reserve Chair Jerome Powell, center, takes
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Man sitting near a wireless router
Chipotle restaurant in Michigan becomes the first in chain to unionize
New Mexico     • Favorite fast-food restaurant:  C
 

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Friday, 26 August 2022

The Daily Money: The big question for home shoppers: Buy or rent?

With housing prices surging and volatile interest rates, many people looking to buy a home are now debating whether they should rent instead. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Friday, August 26

It's finally Friday, readers. Take a deep breath, exhale, and know you have almost reached the weekend. It's Brett Molina back with your Daily Money headlines.

This isn't your ordinary Friday. Today could provide some important clues on where the economy is headed. Federal Reserve chief Jerome Powell speaks at a conference in Jackson Hole, Wyoming, during which he might share hints on whether the central bank will slow down aggressive interest-rate hikes.

So far, experts are split on which direction Powell will take: a continued push toward aggressive rate hikes, or a slower pace indicating the pressures of inflations are easing. 

USA TODAY will have live coverage of Powell's remarks. Stay tuned.

🏠 A home shopper's dilemma: Rent or buy? 🏠

With housing prices still surging and interest rates bouncing all over the place, many people looking to buy a home are now debating whether they should rent instead. The average 30-year fixed mortgage rate went from 3.22% in January to 5.55% as of Thursday, according to Freddie Mac. However, the median monthly asking rent in the U.S. topped $2,000 for the first time in May.  

📰 More stories you shouldn't miss 📰

What is a Pell Grant? What to know after Biden announces his student loan plan.

The push toward EVs. California plans to ban the sale of new gas cars by 2035.

Changes to Google search and maps. Services will label health care facilities that provide abortions.

Traveling during pandemic. Exposed to COVID? CDC says get a private vehicle.

🍔 Today's Menu 🍔

New York City is home to a new pastry generating a lot of internet buzz. It's called the Suprême. It's a round croissant filled with cream and drizzled with chocolate. But is it better than the cronut?

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Follow Brett Molina on Twitter: @brettmolina23.

US Federal Reserve Chair Jerome Powell speaks at a news conference on interest rates, the economy and monetary policy actions, at the Federal Reserve Building in Washington, DC, June 15, 2022. - The Federal Reserve announced the most aggressive interest rate increase in nearly 30 years, raising the benchmark borrowing rate by 0.75 percentage points on June 15 as it battles against surging inflation. The Fed's policy-setting Federal Open Market Committee   reaffirmed that it remains "strongly committed to returning inflation to its 2 percent objective" and expects to continue to raise the key rate. (Photo by Olivier DOULIERY / AFP) (Photo by OLIVIER DOULIERY/AFP via Getty Images) ORG XMIT: 0 ORIG FILE ID: AFP_32CK73L.jpg
Clues on potential Fed rate hikes to be eyed in chairman's speech...
Fed Chair Powell will speak on Friday at a conference in Jackson Hole, Wyoming. Investors want to know how he thinks rate hikes should unfold.
Resentment to celebration: Reactions to student debt forgiveness vary
Angry Woman Crumpling Papers And Snarling At Lapto
Housing: Should 'hesitant' buyers buy or rent?
Scott Golub, his wife Annmarie, and their daughter
What is a Pell grant? Who qualifies? Here's what you need to know
President Joe Biden speaks before signing the Demo
California plans to ban sales of new gas cars by 2035
A customer pumps gas at an Exxon gas station, Tues
Google to label facilities in Search, Maps that provide abortions
Google headquarters
Get a private vehicle, CDC says: What to know about new guidelines
A flight crew walk through the terminal at Sydney
GMC, Hyundai among vehicle recalls this week
Cars
Can my student loan payments made during the pause be refunded?
The cost of higher education in the United States
Meet the Suprême, the new, cream-filled pastry that's become a viral...
Pain au Chocolat Suprême
 

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