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What A Day

Small Step For Big Student Loans

What A Day

Crooked Media

News, Daily News

4.612K Ratings

🗓️ 7 October 2021

⏱️ 20 minutes

🧾️ Download transcript

Summary

The Biden administration announced it will overhaul the student loan forgiveness program for public service employees. It was supposed to forgive certain federal loans of people who worked in the public sector or at non-profit jobs for at least 10 years, but about 98 percent of those who applied were denied. The change will help over a half-million borrowers. Work at all of the Kellogg Company’s U.S. cereal plants came to a halt. As of Tuesday, 1,400 workers across the country went on strike. Workers want better health care, holiday and vacation pay, and more. Before you panic shop, it is not immediately clear how much the supply of Frosted Flakes will be disrupted. And in headlines: a federal judge blocked the enforcement of Texas’s restrictive anti-abortion law, Mitch McConnell offered to suspend the country’s debt ceiling through December, and the New York Public Library announced no more late fees for overdue material. Show Notes: NY Times: “A Guide to Big Changes for Public Service Loan Forgiveness” – https://nyti.ms/3BeWyrI Vice: “‘People Work 100 Days Straight’: Kellogg’s Workers Shut Down Cereal Factories” – https://bit.ly/3uOA2Ue The Guardian: “Wave of US labor unrest could see tens of thousands on strike within weeks” – https://bit.ly/3AnCdPz Jonah Furman from Labor Notes – https://whogetsthebird.substack.com/p/weekly40

Transcript

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0:00.0

It's Thursday, October 7th, on Get In Resinc.

0:08.3

And I'm Trevelle Anderson and this is what a day where we're kind of bummed that identified

0:12.1

who the zodiac killer is because we were going to make finding him our first post-COVID

0:16.6

road trip.

0:17.6

Yeah, we had actually been working on this four years as natural codebreakers.

0:21.6

This seemed like a real opportunity for us.

0:23.4

Now, what do we do now?

0:31.3

On today's show, a federal judge blocked enforcement of Texas's restrictive six-week

0:35.8

abortion ban.

0:36.8

Plus, we recapped the latest offers and counter-offers in Congress on raising the debt ceiling.

0:41.7

But first, more than half a million people were reportedly get support with their student

0:45.8

loan debt.

0:46.8

The Biden administration announced yesterday it will overhaul the student loan forgiveness

0:50.4

program for public service employees.

0:53.2

This unfortunately doesn't apply to me, but I'll share the news anyway.

0:56.9

Yeah, there's enough time to get a job that would get this overall, I guess.

1:02.6

So this is welcome news for many.

1:04.8

Surely, a student loan debt has long been a major onus for college grads.

1:10.5

Very much so.

1:11.5

Student loan debt is something that affects at least one out of every eight people with

1:15.9

almost 43 million Americans having federal student loans.

1:19.9

It's almost $1.6 trillion, according to the most recent data from the Department of Education.

...

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