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
Former US President Joe Biden, 82, has been diagnosed with prostate cancer that has spread to his bones, a statement from his office said on Sunday.
Biden, who left office in January, was diagnosed on Friday after he saw a doctor last week for urinary symptoms.
The cancer is a more aggressive form of the disease, characterised by a Gleason score of 9 out of 10. This means his illness is classified as “high-grade” and the cancer cells could spread quickly, according to Cancer Research UK.
Biden and his family are said to be reviewing treatment options. His office added that the cancer was hormone-sensitive, meaning it could likely be managed.
In Sunday’s statement, Biden’s office said: “Last week, President Joe Biden was seen for a new finding of a prostate nodule after experiencing increasing urinary symptoms.
“On Friday, he was diagnosed with prostate cancer, characterised by a Gleason score of 9 (Grade Group 5) with metastasis to the bone.
“While this represents a more aggressive form of the disease, the cancer appears to be hormone-sensitive which allows for effective management.
“After news broke of his diagnosis, the former president received support from both sides of the aisle.
President Donald Trump wrote on his social media platform Truth Social that he and First Lady Melania Trump were “saddened to hear about Joe Biden’s recent medical diagnosis”.
“We extend our warmest and best wishes to Jill and the family,” he said, referring to former First Lady Jill Biden. “We wish Joe a fast and successful recovery.”
Former Vice-President Kamala Harris, who served under Biden, wrote on X that she and her husband Doug Emhoff are keeping the Biden family in their prayers.
“Joe is a fighter – and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership,” Harris said.
In a post on X, Barack Obama – who served as president from 2009 to 2017 with Joe Biden as his deputy – said that he and his wife Michelle were “thinking of the entire Biden family”.
“Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery,” Obama said.
In 2016, Obama tasked Biden with leading a “cancer moonshot” government-wide research programme.
In the UK, Prime Minister Keir Starmer said: “I am very sorry to hear President Biden has prostate cancer.
All the very best to Joe, his wife Jill and their family, and wishing the president swift and successful treatment.”
The news comes nearly a year after the former president was forced to drop out of the 2024 US presidential election over concerns about his health and age.
He is the oldest person to have held the office in US history.
Biden, then the Democratic nominee vying for re-election, faced mounting criticism of his poor performance in a June televised debate against Republican nominee and current president Donald Trump.
He was replaced as the Democratic candidate by his vice-president, Kamala Harris.
Prostate cancer is the second most common cancer affecting men, behind skin cancer, according to the Cleveland Clinic.
The US Centres for Disease Control and Prevention (CDC) says that 13 out of every 100 men will develop prostate cancer at some point in their lives.
Age is the most common risk factor, the CDC says.
Dr William Dahut, the Chief Scientific Officer at the American Cancer Society and a trained prostate cancer physician, told the BBC that the cancer is more aggressive in nature, based on the publicly-available information on Biden’s diagnosis.
“In general, if cancer has spread to the bones, we don’t think it is considered a curable cancer,” Dr Dahut said.
He noted, however, that most patients tend to respond well to initial treatment, “and people can live many years with the diagnosis”.
Dr Dahut said that someone with the former president’s diagnosis will likely be offered hormonal therapies to mitigate symptoms and to slow the growth of cancerous cells.
Biden had largely retreated from the public eye since leaving the White House and he has made few public appearances.
The former president delivered a keynote speech in April at a Chicago conference held by the Advocates, Counselors, and Representatives for the Disabled, a US-based advocacy group for people with disabilities.
In May, he sat down for an interview with the BBC – his first since leaving the White House – where he admitted that the decision to step down from the 2024 race was “difficult”.
Biden has faced questions about the status of his health in recent months.
In an appearance on The View programme that also took place in May, Biden denied claims that he had been experiencing cognitive decline in his final year at the White House. “There is nothing to sustain that,” he said.
For many years, the president had advocated for cancer research.
In 2022, he and Mrs Biden relaunched the “cancer moonshot” initiative with the goal of mobilising research efforts to prevent more than four million cancer deaths by the year 2047.
Biden himself lost his eldest son, Beau, to brain cancer in 2015.
BBC
International
Global Oil Market Report – May 2025 by IEA
Based on the latest plans, OPEC+ will add 310 kb/d of extra supply this year and 150 kb/d in 2026.Refinery throughput forecasts for 2025 and 2026 are broadly unchanged from last month’s Report at 83.2 mb/d and 83.6 mb/d, respectively.
Global oil demand growth is projected to slow from 990 kb/d in 1Q25 to 650 kb/d for the remainder of the year as economic headwinds and record EV sales curb use.
International energy agency, made the disclosure in its Oil Market Report – May 2025
The report reads: ” Demand growth averages 740 kb/d in 2025 and 760 kb/d in 2026, despite accelerating OECD declines of -120 kb/d and -240 kb/d, respectively.
World oil supply looks on track to rise by 1.6 mb/d to 104.6 mb/d on average in 2025, and by an additional 970 kb/d in 2026.
Non-OPEC+ producers are set to add 1.3 mb/d this year and 820 kb/d next year, even as US LTO supply has been reduced.
Based on the latest plans, OPEC+ will add 310 kb/d of extra supply this year and 150 kb/d in 2026.Refinery throughput forecasts for 2025 and 2026 are broadly unchanged from last month’s Report at 83.2 mb/d and 83.6 mb/d, respectively.
Annual gains of around 400 kb/d in both years are driven exclusively by non-OECD regions. Refining margins reached 12-month highs across most regions and configurations in late April, as a discernible shift in crude pricing boosted profitability.Global oil stocks rose by 25.1 mb in March, led by a 57.8 mb increase in crude, but at 7 671 mb remained well below the five-year average (-221 mb).
Total OECD inventories increased by 3.1 mb, while non-OECD stocks rose by 21.3 mb and oil on water was up slightly by 0.7 mb. Preliminary data show global oil inventories built further in April.
Benchmark crude oil prices fell by around $10/bbl over April and into May amid escalating US tariffs and larger-than-expected OPEC+ output hikes.
Bearish sentiment eased somewhat after the US reached a trade deal with the UK on 8 May, and a 90-day accord with China on 12 May. Russian crude prices averaged $55.64/bbl in April with all major export grades below the $60/bbl price cap.
At the time of writing, North Sea Dated was trading at around $66/bbl.
International
Former Mauritanian president jailed for 15 years following appeal
Abdel Aziz, who has denied corruption allegations, was found guilty of economic crimes and abuse of power.
Mauritania’s former president, Mohamed Ould Abdel Aziz, was on Wednesday sentenced to 15 years in prison on corruption charges following an appeal to a Nouakchott court by both the state and Aziz’s defence against a sentence imposed in 2023.
Reuters reported that Abdel Aziz led the West African country for a decade after coming to power in a 2008 coup, followed by an election a year later.
He was an ally of Western powers fighting Islamist militants in the Sahel region.
Abdel Aziz, who has denied corruption allegations, was found guilty of economic crimes and abuse of power.
He was initially handed a five-year prison sentence in December 2023 before the state appealed against the leniency of that punishment and Aziz’s team appealed the ruling, saying only a high court of justice was qualified to try a former president.
“It is a decision that reflects the pressure the executive branch exerts on the judiciary,” defence lawyer Mohameden Ichidou told Reuters, adding that the defence would appeal against the decision to the Supreme Court.
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