More than 4 million student loan borrowers, including 5,100 in Wyoming, are now enrolled in the Biden-Harris Administration's new Saving on A Valuable Education, or SAVE, repayment plan.
Robert Farrington, founder of The College Investor website, explained the new plan inserts a borrower's annual income into a formula using a benchmark of 225% of their state's poverty guidelines to determine an affordable payment level.
"Your monthly student loan payment is going to be calculated based on your W2 discretionary income," Farrington outlined. "What this means for borrowers is those with low income, and those with larger families, will see lower payments. And some people could see payments as low as zero dollars per month."
President Joe Biden campaigned on reducing student debt, but in June the U.S. Supreme Court struck down a policy to forgive between $10,000 and $50,000 for borrowers earning less than $125,000 per year, roughly 97% of people carrying debt.
Republicans in Congress have invoked the Congressional Review Act to block the SAVE program, claiming it puts a financial burden on people who chose not to attend college or paid back their loans. Borrowers can apply for the program at StudentAid.gov/SAVE.
People earning $15 an hour or less would not pay anything under the SAVE plan, and all others are expected to save at least $1,000 a year. Farrington noted no previous income-driven repayment plan has offered payments as low as 5% of a borrower's discretionary income.
"The current plans, such as Income Based Repayment, and Pay As You Earn, are either 10% or 15% of your discretionary income," Farrington stressed. "That's what makes this new SAVE plan such a great deal. It could literally cut your payment in half."
Wyoming offers up to $30,000 in loan forgiveness for qualifying veterinarians, but a similar program for health care workers was not funded in 2023. Farrington noted the SAVE plan was just released in July, and many more people in Wyoming are eligible but have not yet signed up.
"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. That's really the key issue, let's get the message out so that we can help borrowers save money every month."
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A Missouri university is stepping up as America works to revive semiconductor manufacturing by helping train people to do the work.
It is estimated 300,000 engineers will be needed by 2030. Semiconductors power technology in health care, transportation, artificial intelligence and defense. Industry experts said a worker shortage leaves the U.S. dependent on foreign suppliers, which could threaten supply chains and national security.
Michael Moats, chair of the material science and engineering department at Missouri University of Science and Technology, said in response, the university is launching a new degree program.
"We're going to be starting a new semiconductor engineering program to train engineers who are specifically, have the skill sets to hit the ground running and work in these facilities," Moats explained.
Classes for the new program start this fall. The industry is seeing a major investment shift. President Donald Trump and the CEO of Taiwan Semiconductor Manufacturing Company, recently announced a $100 billion expansion at the company's Arizona chip manufacturing site, boosting its total investment to $165 billion.
In addition, President Joe Biden signed the bipartisan CHIPS and Science Act in 2022, allocating $50 billion to revitalize U.S. semiconductor manufacturing and strengthen supply chains. Moats thinks students who decide to explore a career in the semiconductor industry will have plenty of options.
"We've been told by the companies, the kids -- the graduates for these programs -- are going to come out and have 10 job offers," Moats reported. "I think it's going to be an exciting time, and I think we're positioning our students well to be sought after when they graduate."
The semiconductor industry was valued at more than $600 billion in 2023 and is projected to surpass $1 trillion by 2030.
Support for this reporting was provided by Lumina Foundation.
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Tennessee is working to get more people into college and career training programs, which the state says will be needed for good jobs in the future. And there's a lot more work to be done.
Tennessee ranks 46th among states for the percentage of working-age adults who have degrees or post-high-school career credentials.
Lumina Foundation, which tracks states' progress on higher ed, thinks 75% of adults will need degrees or credentials by 2040.
Steven Gentile, Ed.D, executive director of the Tennessee Higher Education Commission, said the state must improve to strengthen its workforce and drive economic growth. He points to several initiatives to help put college completion within reach.
"We have Tennessee Promise, Tennessee Reconnect, providing tuition-free education," said Gentile. "The governor announced the Tennessee Works scholarship, which will provide tuition-free education for our students at technical colleges."
The Lumina report found in 2023, just over 38% of the Tennessee labor force had a post-high school degree, certificate or certification, and wages at least 15% above the median earnings of a high school graduate.
Seventeen years ago, Lumina Foundation's first goal was for 60% of working-age adults to earn a degree or certification by 2025.
Tennessee's goal for this year has been 55%. But Gentile said the pandemic was a big setback that affected college enrollment nationwide.
"So, will we make 55%? I'm hopeful," said Gentile. "But we also knew that we were not going to stop with 2025 -- we need to be focused on attainment for 2030, 2035 as well."
Gentile said Tennessee leads the nation in per student funding for financial aid. The commission also has advisors out in the field helping adult learners navigate their way back to college.
"So, any adult who wants to retool - go back to college and get that first credential - they can do so and have it be tuition free, and making that happen," said Gentile. "And so, it's just continuously making sure that potential students know it's available."
Lumina has said reaching the 2040 goal will mean states doing more to make college more affordable, improve financial aid, and ensure that schools provide clear value to students and communities.
Support for this reporting was provided by Lumina Foundation.
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Graduate students at the University of Nebraska are creating lessons plans for middle and high school students to help them navigate the social media landscape.
Most social media platforms require users to be at least 13 years old - known as Generation Alpha - to to sign up, but researchers report 40% of kids ages 8 to 12 are there, too.
The lesson plans help young people understand what they're immersed in - often for 4 hours a day or more.
University of Nebraska, Lincoln Education Professor Guy Trainin said the courses help kids strike a balance between the positive and negative parts of being online.
"There are some great benefits to using technology," said Trainin, "but there are definitely some significant pitfalls. And we want to teach you enough about the pitfalls that you know how and what to do when you get to these questions - or when you catch yourself suddenly being 'swallowed' by social media for hours."
Trainin said the University of Nebraska-designed programs may eventually provide lesson plans for parents, too, so they have the knowledge to help their kids use social media safely and effectively.
Trainin - who's also a father - said in previous generations, kids sought their parents' direction on how to consume media.
Now, he said, parents are even less equipped than their young teens to navigate the messy, unfiltered content on social media.
"The core problem is that kids are facing something their parents didn't," said Trainin. "So, the parents are hard pressed to be able to help them. And I know that from personal experience."
Trainin added that teachers are in the same boat - many haven't been trained to equip their students with plans for how best to navigate online platforms, which is where the lesson plans come in.
They're being created by UN graduate students, whom Trainin said are helping bridge the generational gap between young kids and their parents.
Support for this reporting was provided by Lumina Foundation.
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