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
Nvidia’s board of directors announced Thursday that co-founder Jensen Huang has resigned as president, chief executive officer, and a member of the board, effective immediately.
Colette Kress, the company’s longtime executive vice president and chief financial officer, has been appointed interim CEO.
She will continue to serve as CFO while leading the company until a permanent successor is named. The board said it has begun a search that will consider both internal and external candidates.
The board also appointed Harvey C. Jones as its first-ever chair. Jones, a longtime Nvidia director and former CEO and executive chairman of Synopsys, will help oversee the transition.
Huang co-founded Nvidia in 1993 and led it for 33 years, transforming it from a graphics-chip maker into a dominant force in accelerated computing and artificial intelligence.
Kress joined Nvidia in 2013 after nearly 25 years in finance roles at companies including Cisco and Microsoft. In a statement, she said the company remains focused on serving customers, partners, developers, and shareholders while building on the foundation Huang created.
Shares of Nvidia fell sharply in early trading following the announcement.
International
Democrats Win US midterm elections
Trump acknowledges the Iran war, and the rising cost of living, were factors in his Republican Party’s defeat – as the White House posts on social media: “Trump is still your president”
US President Donald Trump
The Democrats win the Senate and the House in US midterm elections, taking control of Congress for the rest of Donald Trump’s tenure.
Voters in conservative bastions who had propelled the president to his second term in office just two years ago swung dramatically toward Democrats, fueled by deep frustration over the unpopular war with Iran, anxiety over the high cost of living and anger at Trump’s stewardship of the country.
Trump acknowledges the Iran war, and the rising cost of living, were factors in his Republican Party’s defeat – as the White House posts on social media: “Trump is still your president”
In Texas, the biggest Republican state, Democrats ended a decades-long losing streak in seismic fashion, winning a Senate seat and ousting three-term Governor Greg Abbott.Kansas elected its first Democratic senator since the Great Depression nearly a century ago, and in South Carolina, a state that Trump carried by nearly 18 points in 2024, Democrats turned aside his hand-picked Senate candidate.The results will usher in a new era of divided government in Washington, following two years in which the Republican-controlled Congress rarely exercised its power to rein in Trump.
A private Learjet 60 crashed into a residential neighborhood in Palm Beach County, Florida, on Sunday afternoon, killing all nine people on board, officials confirmed.
The aircraft, flying from Austin, Texas, to the Bahamas, went down around 12:50 p.m. local time near Cresthaven/Greenacres, roughly 7–11 kilometers (about 4–7 miles) from President Donald Trump’s Mar-a-Lago resort.
It struck near a busy roadway at the entrance to a mobile-home community, creating a large fireball and leaving a crater in the road. Debris was scattered across a wide area, and nearby power and water lines were damaged.
Transportation Secretary Sean Duffy called the crash a “horrific tragedy” and confirmed there were no survivors among the nine occupants.
Florida Governor Ron DeSantis described the impact as “cataclysmic,” saying it “looked like a missile going down.” No injuries were reported among people on the ground. About 600 residents of a nearby mobile-home park were evacuated.
Trump had been at Mar-a-Lago earlier Sunday but departed on Air Force One from the nearby airport about an hour before the crash.
The National Transportation Safety Board is leading the investigation, with support from the Federal Aviation Administration.
Early reports noted the crew had discussed moderate turbulence and ice shortly before the steep descent.
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