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In October 2025, the U.S. Department of Education announced a major step in helping Americans with student loan debt. About two million people will have their federal student loans completely forgiven as part of a review of income-driven repayment (IDR) plans. These plans were supposed to cancel student debt after 20 or 25 years of steady payments, but many borrowers were denied forgiveness due to errors and mismanagement. The government is now working to fix those mistakes. This move comes at a time when rising living costs and economic stress are major concerns for voters, especially in a big election year. Borrowers included in this forgiveness plan will start receiving official emails starting October 21, 2025.

In 2025, many American families are feeling the impact of tariffs that were put in place during Donald Trump's presidency. These tariffs, which are extra taxes on imported goods, were meant to protect U.S. industries by making foreign products more expensive. However, they’ve also caused prices to rise on everyday items like coffee, smartphones, laptops, and toys. For example, laptop prices have jumped by 46% and coffee is nearly 10% more expensive. As a result, the cost of living has gone up, and the average household is now paying around $1,200 more each year. This shows how international politics and trade policies can directly affect what Americans pay at the store.

As of late 2025, inflation in the United States is still a concern despite claims from leaders that the worst is over. President Trump has said that inflation is under control, pointing to lower grocery and mortgage costs and the recent interest rate cut by the Federal Reserve. However, inflation remains above the Fed’s target, with consumer prices rising by 2.9% in August. Prices have gone up in three of the past four months, showing that rising costs are still affecting everyday life. New tariffs on imported goods, such as furniture, are making things more expensive, and high prices at the gas pump and grocery store remain a problem for many Americans. These economic issues are expected to play a big role in the upcoming 2026 elections.

As New York rolls out one-time inflation refund checks to help people deal with rising living costs, scammers are taking advantage of the situation. These criminals are pretending to be from the New York State Tax Department and are contacting people through phone calls, emails, and text messages. They often claim that you need to verify your identity or pay a fee to get your refund faster. In reality, the state sends these checks automatically based on your 2023 tax return, and they will never ask for personal information this way. State officials are warning residents to be careful and not to fall for these scams.

As of October 2025, the Federal Reserve has started to lower interest rates, which impacts how much banks pay on savings products like certificates of deposit (CDs). CDs have been offering strong returns through much of the year, with some top rates still reaching up to 4.35% from banks like Ivy Bank and Colorado Federal Savings Bank. However, with more Fed rate cuts expected in the near future, these high rates may not last long. Financial experts are encouraging savers to act quickly and lock in current CD rates before they drop. CDs are a safe way to earn interest, making them a smart option for anyone looking to grow their money without taking big risks.

Under President Trump’s second term, the U.S. economy is dealing with high inflation, rising interest rates, and new workplace expectations like return-to-office rules. These changes are making everyday life more expensive, especially for working-class families. As a result, many Americans are turning to side hustles to earn extra money and stay financially stable. Some of the most popular gigs include reselling used goods, freelance tech work, and offering home repair or maintenance services—especially since the housing market has slowed down. People are also taking advantage of market gaps caused by new tariffs and deregulation, using their skills in creative ways to meet growing demand. Side hustles that offer flexibility and practical value are thriving in today’s economy.