GO in the Know: SNAP Benefits Get a Boost, Amazon Raises Wages & Top Financial News of the Week

GO in the Know Saturday edition
Jacob Ammentorp Lund / iStock.com

I hope you all had a wonderful week, but if you didn’t get a chance to catch up on the latest top financial stories — we got you covered here. Enjoy the weekend!

The Big Lead: COLA Update Increases SNAP EBT Benefits by 12.5% Starting Oct. 1

Americans who receive Supplemental Nutrition Assistance Program (SNAP) benefits will get a needed financial boost thanks to a major cost-of-living adjustment (COLA) due to go into effect for fiscal year 2023.

Business Spotlight: Amazon Raises Wages for Warehouse Workers to $19 Per Hour

Amazon announced it would be raising average hourly wages for its warehouse’s workers to $19 in October — a move the company said represents a $1 billion investment over the next year.

That’s Interesting: These Student Loans No Longer Qualify for Forgiveness — Is Yours One?

Under President Biden’s student loan forgiveness program, individual borrowers who earned less than $125,000 in 2020 or 2021 will see up to $10,000 or $20,000 of their federal student loan debt forgiven. As of Sept. 29, 2022, some loans may no longer qualify.

Bonus: Inflation Relief Payments Are Coming to These States

Inflation is still high, and consumer prices continue to steadily increase. Fortunately, some individual states are providing relief in the form of inflation relief checks.

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