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Welcome to The Hill’s Business & Economy newsletter

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Business & Economy

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The Big Story

Student borrowers face interest accrual again

The Education Department announced Wednesday interest accrual for student loan borrowers on the Saving on Valuable Education (SAVE) plan will restart Aug. 1.

The SAVE plan, created under the Biden administration, was struck down by the 8th U.S. Circuit Court of Appeals.

Since the ruling, millions of borrowers have remained in forbearance with no interest accrual, with the possibility this forbearance could last until summer 2026 before borrowers were forced to switch out.

“Millions of borrowers enrolled in the Biden Administration’s SAVE Plan based on the false promise of loan cancellation and zero monthly payments, despite multiple federal courts striking down such policies. The Biden Administration also invented a zero percent ‘litigation forbearance,’ forcing taxpayers to foot the bill and leaving borrowers without clear direction on how to legally repay their loans,” the press release from the department states.

The SAVE plan became a popular option for its ability to offer some borrowers monthly payments as low as $0.

While borrowers will not be responsible for making payments on the SAVE plan until forbearance ends, their balance will rise with the restart of interest accrual.

The Education Department is urging these borrowers to choose a new repayment plan before restarting payments.

The Hill’s Lexi Lonas Cochran has more here.

Welcome to The Hill’s Business & Economy newsletter, I’m Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

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Essential Reads

Key business and economic news with implications this week and beyond:

Trump slaps 50 percent tariff on Brazil, citing Bolsonaro prosecution

President Trump on Wednesday announced plans to impose a 50 percent tariff on all goods from Brazil, in part due to the prosecution of former President Jair Bolsonaro over an alleged plot to remain in power after losing an election.

Full Story

Not all brands are onboard with ditching synthetic dyes

Major American brands have vowed to remove synthetic food dyes from their products, but M&M’s and Skittles, made by Mars, remain colorful holdouts.

Full Story

Musk AI firm deleting antisemitic Grok posts

Elon Musk’s artificial intelligence (AI) company xAI said Tuesday it was deleting posts from its chatbot, Grok, after it began producing antisemitic responses.

Full Story

Trump tariff letters: Running list of countries and rates

President Trump is alerting countries around the world of impending tariff rates that they will face when sending goods to the United States, hitting prominent trading partners and poorer nations alike with steep duties as he reorients U.S. trade policy.

Full Story

COMING UP

The Hill’s Evening Report breaks down the day’s big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox

The Ticker

Upcoming news themes and events we’re watching:

The Senate Appropriations Committee on Thursday is set to meet at 9:30 am E.T. to consider their first batch of full-year government funding bills for fiscal 2026.

In Other News

Branch out with more stories from the day:

Musk’s AI company scrubs inappropriate posts after Grok chatbot makes antisemitic comments

Elon Musk’s artificial intelligence company said Wednesday that it’s taking down “inappropriate …

Full Story

Good to Know

Business and economic news we’ve flagged from other outlets:

S&P 500 rebounds after 2 days of losses, Nvidia leads gain as it reaches $4 trillion market value (CNBC)
The Trump administration predicted 90 trade deals in 90 days. So far there have been 2 (The Associated Press)
Snack Wraps and Spicy McMuffins. How McDonald’s is refreshing its menu to lure back customers (CBS News)

What Others are Reading

Top stories on The Hill right now:

Democrats gloat as MAGA World explodes over Epstein files

President Trump’s “big, beautiful bill” is a boon for Second Amendment groups that say it aids their quest to strike down a 91-year-old gun law requiring many Americans to register their firearms. Read more

Trump’s ‘big, beautiful bill’ lands in court

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What People Think

Opinions related to business and economic issues submitted to The Hill:

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Business & Economy

Business & Economy

Student borrowers face interest accrual again

COMING UP

The Hill’s Evening Report breaks down the day’s big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox

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