Benchmark U.S. crude oil for August delivery rose 75 cents to $74.05 a barrel Friday. Brent crude oil for August delivery rose 62 cents to $76.18 a barrel.
Wholesale gasoline for July delivery fell 2 cents to $2.26 a gallon. July heating oil fell 1 cent to $2.15 a gallon. July natural gas rose 8 cents to $3.50 per 1,000 cubic feet.
Gold for August delivery rose $1.10 to $1,777.80 an ounce. Silver for July delivery rose 4 cents to $26.09 an ounce and July copper fell 2 cents to $4.29 a pound.
The dollar fell to 110.84 Japanese yen from 110.86 yen. The euro edged up to $1.1932 from $1.1930.7 Stocks to Watch When Student Debt Forgiveness Gets Passed
Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.
If $10,000 of student debt were to be canceled, there are estimates that one-third of borrowers (between 15 million to 16.3 million) would become debt-free. Of course, if the number hits $50,000 as some lawmakers are suggesting the impact would even greater.
Putting aside personal thoughts on the wisdom of pursuing this path, it has the potential to unleash a substantial stimulus into the economy.
And as an investor, it’s fair to ask where that money would go. After all, there’s no harm in having investors profit from this stimulus as well.
A counter-argument is that the absence of one monthly payment may not provide enough money to make an impact. However, Senator Elizabeth Warren referred to the effect student loans have in preventing many in the millennial and Gen-Z generations from pursuing big picture life goals such as buying a house, starting a business, or starting a family.
With that in mind, we’ve put together this special presentation that looks at 7 stocks that are likely to benefit if borrowers are set free from the burden of student loans.
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