Biden Launches New Student Debt Repayment Plan; US Trucking Firm Yellow to File for Bankruptcy

The Biden administration is launching a website for its new student loan repayment plan. The president's new plan could lower monthly loan payments for some borrowers and reduce the amount they pay back over the lifetime of their loans. The new approach comes weeks after the Supreme Court rejected the president's effort to wipe out student debt for millions of borrowers. Cash-strapped U.S. trucking company Yellow Corp. has ceased operations and is filing for bankruptcy after it failed to reorganize and refinance over a billion dollars in debt, according to the Teamsters Union on Sunday. Teamsters General President Sean O'Brien said in a statement, "Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government,"