Can President Joe Biden legally cancel student debt?


Health experts warn Americans to be fully vaccinated before getting back to ‘normal,’ warn there could be a fourth surge

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New data illustrates that virus infections are now moving toward a younger generation, and health experts are warning Americans that a fourth surge could be on the way. A recent forecast by the Institute for Health Metrics and Evaluation at the University of Washington found that 600,000 people could lose their lives by July. 

“We need to hold out just a bit longer and give vaccines a chance to really get the upper hand in this,” said Dr. Anthony Fauci, who noted that even he was feeling some virus fatigue. “I’ll guarantee as we get into the late spring and the early summer, you’re going to see a return to [a] gradual degree of normality that everyone is hoping for, but we don’t want to do it prematurely.”

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How to Invest in Cryptocurrencies

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This is your morning market update

Most investors will get to enjoy a holiday-shortened week. The stock market is closed on Good Friday, April 2, 2020, ahead of the Easter Sunday holiday, which falls on April 4.

As a result, no major earnings are scheduled for Friday.

But while Friday is a stock market holiday, it’s only a partial holiday for bond traders. The bond markets will shut down early, at 2 p.m., on Friday, which is a deviation from 2020: Last year, the bond market was not only fully closed on Good Friday, but also for Maundy Thursday.

Stock and bond trading resume at their normal hours on Monday, the day after Easter.

Check out the full market schedule here. 

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Jeannette Rankin broke the political glass ceiling on this date in 1917

Image Source: Time Magazine

On April 2, 2017, Jeannette Rankin burst through the political glass ceiling as she assumed office after being the first ever woman elected to Congress. 

Her appointment to Congress didn’t come without any setbacks or controversy, as her term was initially delayed due to opposition to a woman holding office at that level. Congressmen deliberated for nearly a month about whether or not a woman should be a congressional representative before they finally allowed her to take office. 

Rankin’s political stint in the House of Representatives was short-lived, as she left office in 2019 to pursue leadership roles with suffrage and pacifist organizations. And while her time in Congress may have been short, she helped pave the way for other women to pursue their political dreams without being held back by fierce opposition. 

Learn more about Rankin’s interesting political career and personal life right here.

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Can President Joe Biden legally cancel student debt?

President Joe Biden has requested that Education Secretary Miguel Cardona prepare a report on the president’s legal authority to cancel up to $50,000 in student debt per borrower. On the campaign trail, Biden said he supported $10,000 in student loan forgiveness. However, he is under mounting pressure from the Democratic Party, advocates, and borrowers to go further through executive action.

Although Biden in the past has expressed reluctance at bypassing Congress to cancel student debt, White House press secretary Jen Psaki suggested in February that the administration hadn’t ruled out the possibility. If it was determined that the president could cancel student debt without passing legislation, borrowers could see their balances reduced or eliminated overnight. On the other hand, the chances of Congress agreeing to forgive the loans is, at best, uncertain given Democrats’ razor-thin majority.

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These 6 things could make or break your retirement plans. Be prepared

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A 2020 survey found that only 30% of respondents were “very confident” about their retirement plans. 61% of respondents said that planning for retirement caused them stress. So don’t worry if retirement seems overwhelming—you’re not alone.

A good place to start? What not to do. Number one on the list is to write a real, actionable income plan. This plan should estimate how long your retirement savings will last, where you can generate extra income when necessary, and how much you can spend in a year.

Without that income plan, you’re flying by the seat of your pants and it can end up disastrous. Don’t spend your retirement stressing about money. The whole point of retirement is to reduce stress, not cause it!

What else do you need to know when planning?

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Stay Informed, 

Rex Jackson

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Rex Jackson
Writer & Editor of Brief Updates