International
Students in America Lament Loan Burden
Americans are currently lamenting about the student loan burden which some students are kicking against.
If the United States Supreme Court had not overruled President Joe Biden’s programme to cancel billions of dollars in student debt, Satra D. Taylor, who borrowed $40,000 to complete her studies, could have seen that amount reduced by half.
Now the 27-year-old – who used the loan to study at the University of Michigan, supplementing a scholarship and other financial aid – is back on the hook for the whole sum.
“We created this unjust, inequitable, expensive, higher education system and so we need to redress it,” she told AFP, standing before the high court.
Biden’s forgiveness programme was meant to lift more than $400 billion in student debt weighing down the lives of millions of lower and middle-income Americans.
Certain borrowers would have been eligible to receive $20,000 in cancellations, while the vast majority were eligible for $10,000.
But the court overruled the programme Friday, stating that given the large sum, the president had overstepped his powers.
“Any American who wants to pursue higher education should be able to do so,” Taylor said.
“We have students now who have not acquired the generational wealth to pay for their cost of college, it needs to be debt-free,” added Taylor, who works for the youth advocacy group Young Invincibles.
Taylor said she was not surprised given the Supreme Court’s conservative majority, which on Thursday banned the use of affirmative action in university admission policies.
Taylor, who is African American, said the loan forgiveness decision was a setback for Black and Latino students who “would have disproportionately benefitted from this relief.”
“This is absolutely not only a social justice issue, but also a racial equity issue.”
– ‘Future generations’ –
Mina Schultz, 37, who borrowed approximately $65,000 for her studies, emphasized the impact student debt has on the entire economy.
When the pandemic hit and student loan repayments were frozen, it was “a blessing,” she told AFP from outside the Supreme Court.
People were “able to contribute more to the economy” by spending money elsewhere, whether on food as prices surged due to inflation or on things like rent, the George Washington University graduate said.
Schultz would have benefited from $10,000 in debt cancellation, which “would have been really helpful.”
That sort of money “is a huge deal to a lot of people,” said Schultz, who will be forking over some $340 per month when payments resume in several months.
Enjoying a seemingly debt-free life during the repayment pause, she was able to move out of her studio apartment and into a one-bedroom unit.
Nearby, Shanna Hayes, 34, could not contain her emotion as she spoke before several cameras: Her debt, originally $130,000, now exceeds $150,000 due to compounding interest that has accrued over the past 11 years.
“I ask you to remember that the student debt crisis impacts our grandparents, parents… children and future generations,” she told the reporters.
AFP
International
Iran reopens Strait of Hormuz following two-week cease-fire agreement with Trump
Pakistan, which has mediated between Tehran and Washington, said that an immediate ceasefire between Iran and the US had taken effect.
Iranian Foreign Minister Abbas Araghchi said safe passage through the Strait of Hormuz would be possible for two weeks in coordination with Iran’s armed forces “and with due consideration of technical limitations.”
The development follows a two-week ceasefire announced by U.S. President Donald Trump, the Tasnim news agency, which is close to the Islamic Revolutionary Guard Corps (IRGC), reported early on Wednesday.
Pakistan, which has mediated between Tehran and Washington, said that an immediate ceasefire between Iran and the US had taken effect.
Prime Minister Shehbaz Sharif wrote on X that the Islamic Republic of Iran and the U.S., along with their allies, had agreed to an “immediate ceasefire everywhere,” including in Lebanon.“
Trump had made reopening the waterway a condition for the ceasefire and had threatened to target Iran’s energy sector and infrastructure, including bridges, if Tehran failed to comply, setting a deadline of 0000 GMT.
The Strait of Hormuz, crucial to global oil and gas trade, has been largely closed since the United States and Israel launched large-scale attacks on Iran on Feb. 28.
According to a senior U.S. official, Israel will also adhere to what Trump described as a “double sided CEASEFIRE.”
Oil prices climbed sharply while global stocks wavered and mostly declined on Tuesday as President Donald Trump’s looming deadline for Iran to reopen the Strait of Hormuz or face escalated U.S. strikes heightened geopolitical tensions and investor anxiety.
Brent crude futures rose about 1% to trade near $111 per barrel, with U.S. West Texas Intermediate crude also pushing higher amid fears that prolonged disruption to the critical waterway through which a significant portion of global oil supplies passes could worsen energy shortages. Oil has surged more than 50% since the conflict intensified.
Meanwhile, major U.S. stock indexes showed mixed but largely cautious trading, with many shares slipping as investors weighed the risk of further military escalation, including potential strikes on Iranian power plants and infrastructure.
European and Asian markets were similarly tentative, reflecting broader concerns over inflation, energy costs, and economic fallout from the ongoing Middle East conflict.
Trump has set a firm deadline of 8 p.m. ET Tuesday (1 a.m. GMT Wednesday) for Iran to reach a deal and reopen the strait, warning of decisive action if unmet. He has threatened to “decimate” Iranian bridges and power plants, stating the country “could be taken out in one night.
”Iran has rejected recent ceasefire proposals, calling instead for a permanent end to hostilities, while markets remain on edge with no clear resolution in sight.
Analysts warn that sustained high oil prices could fuel global inflation and slow economic growth, though some investors still hope for a last-minute diplomatic breakthrough.
The developments come as the International Energy Agency has described the current oil and gas crisis linked to the Hormuz blockade as potentially more severe than previous major shocks combined.
International
Trump warns Entire Iran could be ‘taken out’ Tuesday night
” The entire country could be taken out in one night, and that night might be Tuesday night,” he said.
US President Donald Trump says Iran could be “taken out” in one night as the deadline set for the country to open the Strait of Hormuz to shipping traffic approaches.
On Saturday, Trump gave Iran 48 hours to comply or risk facing “hell”.
He later threatened that the US would blow up Iran’s power plants and bridges if Tehran failed to adhere to his warning.
The US president said Iran had until Tuesday at 8 p.m. ET (1 am WAT) to make a deal.
In a press conference on Monday, Trump reiterated and intensified his threats.
“The entire country could be taken out in one night, and that night might be Tuesday night,” he said.
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