‘I plan on dying with student loan debt’

The cost of being a student just got more expensive.

Federal student loan interest rates are determined each year based on the results of the May 10-year Treasury auction, where new 10-year U.S. Treasury bonds are sold. Federal student loan interest rates for the 2024-2025 academic school year are expected to be the highest in over a decade:

• Undergraduate loans: 6.53%, up from 5.50%

• Graduate loans: 8.08%, up from 7.05%

• PLUS loans, available to parents and graduate students: 9.08%, up from 8.05%

For those of us still with student loans, you may be wondering WTF happened to Biden’s student debt-relief plan. The Supreme Court struck down its first attempt in June 2023, and Biden's second attempt at student loan forgiveness is in its public comment period. The new plan aims to cancel $20,000 in unpaid interest for borrowers. The plan could begin reducing and eliminating balances as early as this summer, but some experts predict similar legal challenges.

Looks like I won’t be getting my MBA anytime soon!

Our Picks

Here are today’s recs to help you live a smarter life…

1. Blink helps bring peace of mind to you and your loved ones.

Wire-free smart security camera with a two-year battery life. 50% off for a limited time.*

2. Don't just take, give.

Create generous moments with the Fujifilm Instax Mini 40 Instant Camera.*

3. For muddy paws.

Absorbs moisture and dirt, non-slip washable mud mat for dogs. 38% off.*

Watch the TikTok version

@boringbusinesskieran

America’s fastest growing sport is coming to your gym #pickleball #equinox #lifetimefitness #business #economy

Follow me on TikTok for more: @boringbusinesskieran

In Case You Missed It

• Made in Mexico — Nearshoring in Mexico is surging as U.S. businesses look to reduce their reliance on Chinese manufacturing.

• What’s Driving the Waste and Recycling Industry’s M&A Activity — There is a growing list of willing sellers in the waste and recycling industry.

• Meta’s Copycat Machine Fuels Instagram Growth — Instagram beat TikTok in growth and downloads in 2023.

• Subscriptions come for everything, even sleeping — Businesses are now trying to implement subscription models at grocery stores and to improve sleep quality.

• How Investors Are Making Money by Betting on When People Are Going to Die — Life settlements are a growing market that has garnered serious interest from prominent Wall Street firms.

Take me to all the daily stories I missed.

Was this email forwarded to you? Sign up for free here.

* denotes a sponsorship