GO in the Know: Biden Cancels Some Student Debt, Social Security May Increase & Top Financial News of the Week
We just wrapped up the last full workweek of August, Labor Day is just around the corner, and you know the rest of the year is going to fly by after that. So, take a pause on this lovely Saturday and catch up on some of the biggest financial stories of the week.
The Big Lead: Biden Cancels $10K in Student Loans, $10K More for Pell Grant Borrowers
Just a week before the student loan repayment pause was set to expire on August 31, the Biden administration announced a cancellation of some, but not all, student debt along with new relief — including extending the payment pause through the end of the year.
Social Security Spotlight: Retirees Could See Monthly Benefits Rise
If you’re retired and receiving Social Security, good news — more money could be on the way! Social Security benefits could increase by as much as $159 a month, according to a new report.
That’s Interesting: Despite Inflation, Americans Are Spending $314 Per Month on Impulse Purchases
Times are particularly tough right now with inflation driving up prices on everyday goods and a possible recession on the horizon. But none of this is stopping Americans from spending; in fact, it may be making them spend more.
Bonus: 7 Industries That Are Recession-Proof
These seven industries should see lower unemployment rates than other sectors if the economy falls deeper into a recession.
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