Monday, August 29, 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."

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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.

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