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| It's Thursday and we're still processing the big news from the Biden administration on student loans. Brett Molina here with a look at your Daily Money headlines. |
| On Wednesday, President Biden said he would forgive up to $10,000 in federal student loans, or up to $20,000 if you received a Pell Grant. |
| The plan will also offer some much-needed relief for borrowers in the form of more manageable monthly payments. It focuses on discretionary income, which is the money left over after you've paid taxes and essential cost-of-living expenses. |
| First, the plan increases the amount of nondiscretionary income and protects it from repayment of student loans. Second, borrowers would only have to pay 5%, instead of 10%, of their discretionary income each month on undergraduate loans. |
| Don't forget: Email USA TODAY for your questions about the student loan forgiveness plan, and how it may impact you. |
Investors not buying Republican push against 'woke capitalism' |
| Proposals targeting "woke capitalism" filed by conservative groups are failing to gain traction among shareholders of some of the biggest companies. Conservative groups such as the National Legal and Policy Center and the National Center for Public Policy Research filed 43 shareholder proposals this year, targeting companies such as Bank of America, Johnson & Johnson and Walt Disney. A Morningstar proxy database found the proposals received 7% support from shareholders on average. |
📰 More stories you shouldn't miss 📰 |
| Peloton joins Amazon. You can buy the fitness bikes and other gear through the online retailer. |
| Back-to-school shopping. Those receipts looking bigger this year? It's not just you. |
| Small business advice. Nine ways you can make more money. |
| Tips on tipping. What you should know next time you're on a cruise. |
🍔 Today's Menu 🍔 |
| There are two new flavors of Doritos, but not the ones you might expect. These Doritos are available in ketchup and mustard flavors. For the record, Cool Ranch is still the G.O.A.T. |
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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