The pandemic-related pause on student loan payments is ending, and as Wisconsin borrowers resume efforts to chip away at their balance, they're urged to explore a new income-driven federal plan to lower their monthly bills.

Federal officials say more than four million Americans have already signed up for the program known as SAVE, which bases a borrower's repayment amounts on discretionary income. To date, more than 70,000 Wisconsinites are enrolled. The Biden administration said it will eliminate some debt completely, and others could save as much as 40% a month.

Robert Farrington, founder of The College Investor website, said it is aggressive in helping those overwhelmed with debt.

"There have been income-driven repayment plans for the last 15 to 20 years," Farrington pointed out. "However, none of them have offered payments this low, at 5% of your discretionary income."

Wisconsin officials noted if your debt is eventually forgiven, that portion of the balance would be considered taxable income. Payments are scheduled to resume in early October after a three-year hiatus. The Biden program was recently announced after a separate student loan-forgiveness plan was struck down by the U.S. Supreme Court. Opponents of the initiative have said it will burden taxpayers.

While roughly four million people have signed up, the Biden administration said more than 20 million could benefit altogether. Farrington added awareness might be an issue given all the student loan activity right now.

"Student loan repayments are just starting right now, and there's a lot of information coming at borrowers," Farrington cautioned. "Digesting it all, figuring out the best course of action, is very hard."

Another feature of the SAVE program is, for those who make their monthly payment, their loan balance will not grow due to unpaid interest. Certain elements of the initiative are being phased in. The website StudentAid.gov has details on which loans are eligible, and which are not.


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A new analysis found financial hardship is growing in Connecticut.

United Way of Connecticut's ALICE Report focuses on those who are Asset Limited, Income Constrained, but Employed. It suggested the direct cause of the issues is a disconnect between wages and the cost of basic essentials. The report showed more than half of the most common jobs in the state paid less than $20 an hour, or $40,000 a year, in 2021.

Lisa Tepper Bates, president and CEO of the United Way of Connecticut, said the state has already taken some steps to make life more affordable.

"The legislature and the governor did a terrific job last session when they were able to increase the state Earned Income Tax Credit, which is based on a percentage of the federal EITC or Earned Income Tax Credit," Tepper Bates explained.

The state raised its tax credit to 40% of the federal level but Tepper Bates pointed out it can only do so much. She noted federal programs initiated during the pandemic, like the expanded federal Child Tax Credit, provided some relief for families. A Columbia University study found the Child Tax Credit kept almost 4 million children out of poverty.

The report also showed a retail salesperson in the state has lost buying power due to inflation. Over 15 years, it equals more than $42,000. Tepper Bates pointed out one shocking finding was how quickly prices have increased across the state.

"It is surprising to a lot of people how very fast the cost of living has gone up," Tepper Bates stressed. "The cost of housing in particular, in Connecticut, has started to tick upwards very, very quickly."

A Connecticut Voices for Children report finds inflation growth in rents grew faster than median household income between 2005 and 2021.


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New polling data showed most Ohio Republican voters say small-town factory jobs are not coming back, and want their elected representatives to prioritize preserving and increasing U.S. manufacturing.

Among those surveyed, 80% believe the federal government's purchasing of foreign-made goods over "Made in USA" products has triggered manufacturing job losses across the country.

Scott Paul, president of the Alliance for American Manufacturing, said he hopes participants in tonight's GOP debate will recognize the shifting views of the next generation of Republicans on foreign trade.

"All the presidential candidates who are going to be in the debates need to understand that their voters represent a different Republican Party than we saw just a couple of decades ago," Paul contended.

Nearly nine in 10 Republican voters in Ohio said they support investing in rebuilding America's infrastructure, and 85% agreed taxpayer dollars should go toward infrastructure projects relying on American-made iron, steel and other construction materials, rather than imported products.

Eight in 10 Republican voters said the federal government should be able to prohibit U.S. corporations from investing in manufacturing in other countries if it poses a threat to national interests.

Paul added the majority of GOP voters want the next president to either increase tariffs on Chinese goods or keep the current tariffs in place.

"A large percentage of Republican primary voters in both Ohio and Pennsylvania think those tariffs need to be increased," Paul reported. "To help American manufacturing to help jobs here."

Seven candidates will debate tonight at the Ronald Reagan Presidential Library in Simi Valley, California, including Gov. Doug Burgum, R-N.D., Gov. Ron DeSantis, R-Fla., former Gov. Nikki Haley, R-S.C., former Vice President Mike Pence, businessman Vivek Ramaswamy and Sen. Tim Scott, R-S.C. The top contender for the nomination, former President Donald Trump, announced he will not attend the debate.


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China-based company Ebon International will not be getting discounted energy prices for its proposed cryptomining facility in eastern Kentucky, the state's regulators announced.

The Public Service Commission is also expected to issue a decision this month on rate discounts for another cryptomining facility in Hatfield.

Thom Cmar, senior attorney for the environmental law firm Earthjustice, explained the special contract Ebon and Kentucky Power lobbied for would have given the company millions of dollars in subsidies. The problem, he said, is cryptomining is energy intensive, strains electric grids and would have likely resulted in rate increases passed on to residents.

"The Kentucky Public Service Commission just thought this was too risky of a contract, at a time when Kentucky Power itself has had trouble serving its existing customers," Cmar noted.

Under state law, utilities are allowed to offer special rates as an incentive for businesses. Supporters argued energy discounts help attract companies to bring jobs and other economic benefits to the utility's service area.

But Cmar countered cryptomining is a boom-and-bust industry, with no track record of providing good-paying jobs for the long haul.

"These facilities are potentially 'here today, gone tomorrow,' as it's entirely dependent on the price of these international cryptocurrency markets for Bitcoin and other cryptocurrencies," Cmar stressed.

Cmar added advocacy groups have been urging Kentucky utilities to double down on the availability of federal funding to support renewable energy development throughout the state.

"We're talking at a time when Kentucky Power has proposed a massive new rate increase on its residential customers," Cmar pointed out. "The reason for that is because they've had trouble planning around a transition away from coal."

The Infrastructure Investment and Jobs Act and the Inflation Reduction Act included billions of dollars in tax credits, loans, grants and other financial assistance to state utilities for clean-energy initiatives.


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