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The Federal Government Is Retreating From Student Lending

The Federal Government Is Retreating From Student Lending

The federal government is retreating from its central role in financing higher education.
President Trump's big tax-and-spending law includes new restrictions on how much students can borrow and how they repay. The provisions begin to reverse the government's near takeover of the $1.7 trillion student lending market over the past six decades.
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T-Mobile US, Inc. and T-Mobile USA, Inc. Announce Final Results of its Exchange Offers and Consent Solicitations for Certain of Array Digital Infrastructure, Inc.'s Outstanding Debt Securities
T-Mobile US, Inc. and T-Mobile USA, Inc. Announce Final Results of its Exchange Offers and Consent Solicitations for Certain of Array Digital Infrastructure, Inc.'s Outstanding Debt Securities

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  • Yahoo

T-Mobile US, Inc. and T-Mobile USA, Inc. Announce Final Results of its Exchange Offers and Consent Solicitations for Certain of Array Digital Infrastructure, Inc.'s Outstanding Debt Securities

BELLEVUE, Wash., August 02, 2025--(BUSINESS WIRE)--T-Mobile US, Inc. (NASDAQ: TMUS) (the "Company") today announced, together with T-Mobile USA, Inc., its wholly-owned subsidiary ("T-Mobile USA"), the expiration and final results of its previously announced offers to exchange (the "Exchange Offers") any and all of certain series of outstanding senior notes of Array Digital Infrastructure, Inc. (formerly known as United States Cellular Corporation) ("Array"). The Exchange Offers were launched pursuant to the Securities Purchase Agreement announced on May 28, 2024, under which the Company agreed to purchase certain assets from Array. Today's final results concern the Company's offers to exchange: (i) Array's 6.700% Senior Notes due 2033 (the "Old Array 2033 Notes") for new 6.700% Senior Notes due 2033 to be issued by T-Mobile USA (the "New 2033 Notes"); (ii) Array's 6.250% Senior Notes due 2069 (the "Old Array 2069 Notes") for new 6.250% Senior Notes due 2069 to be issued by T-Mobile USA (the "New 2069 Notes"); (iii) Array's 5.500% Senior Notes due 2070 (March) (the "Old Array March 2070 Notes") for new 5.500% Senior Notes due March 2070 to be issued by T-Mobile USA (the "New March 2070 Notes"); and (iv) Array's 5.500% Senior Notes due 2070 (June) (the "Old Array June 2070 Notes" and, together with the Old Array 2033 Notes, the Old Array 2069 Notes and the Old Array March 2070 Notes, the "Old Array Notes") for new 5.500% Senior Notes due June 2070 to be issued by T-Mobile USA (the "New June 2070 Notes" and, collectively with the New 2033 Notes, the New 2069 Notes and New March 2070 Notes, the "New T-Mobile Notes"); in each case upon the terms and subject to the conditions set forth in the Prospectus, as defined below. In connection with the Exchange Offers, the Company and T-Mobile USA also solicited consents to amend the applicable indentures governing each series of the Old Array Notes (the "Consent Solicitations") to modify or eliminate certain notice requirements and restrictive covenants in the indentures governing the Old Array Notes. As previously announced on June 16, 2025, the Company and T-Mobile USA have received valid consents to the Proposed Amendments (as defined in the Prospectus) to the indentures governing the Old Array Notes from the holders of at least a majority of the outstanding aggregate principal amount of each series of the Old Array Notes. The Exchange Offers and the Consent Solicitations expired today, August 1, 2025, at 5:00 p.m., New York City time (the "Expiration Date"). The table below provides the aggregate principal amount of validly tendered Old Array Notes that the Company accepted for exchange as of the Expiration Date, as well as the aggregate principal amount of New T-Mobile Notes to be issued and the total amount of cash to be paid, in connection with the Exchange Offers and the Consent Solicitations: Title of Series of Old Array Notes Tendered CUSIP No./ ISIN Principal Amount Outstanding (mm) Principal Amount Validly Tendered and Accepted for Exchange Cash Amount To Be Paid for Early Consent Fee(1) Principal Amount of New T-Mobile Notes To Be Issued Old Array 2033 Notes 911684AD0/US911684AD06 $544 $488,941,000 $487,219.00 $488,860,000 Old Array 2069 Notes 911684702/US9116847024 $500 $394,177,750 $371,004.23 $393,481,525 Old Array March 2070 Notes 911684801/US9116848014 $500 $401,502,000 $378,044.65 $400,797,075 Old Array June 2070 Notes 911684884/US9116848840 $500 $395,450,250 $372,259.88 $394,753,475 (1) The Early Consent Fee (as defined in the Prospectus) will only be paid to holders of those Old Array Notes that were validly tendered prior to the Early Participation Date (as defined in the Prospectus), and not validly withdrawn, as described in the Prospectus. The Company and T-Mobile USA did not receive any cash proceeds from the Exchange Offers. Settlement of the Exchange Offers and Consent Solicitations is expected to occur on or about August 5, 2025. D.F. King & Co., Inc. acted as the information agent and exchange agent for the Exchange Offers and Consent Solicitations. Requests for documentation and questions regarding the Exchange Offers and Consent Solicitations can be directed to D.F. King & Co., Inc. at (888) 605-1958 (for information U.S. Toll-free) or (212) 269-5550 (information for banks and brokers). Questions regarding the terms and conditions of the Exchange Offers and Consent Solicitations should be directed to the dealer managers, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC, at Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York 10036, Attention: Global Debt Advisory Group, Collect: (212) 761-1057, Toll Free: (800) 624-1808, Email: lmny@ and Wells Fargo Securities, LLC, 550 South Tryon Street, 5th Floor, Charlotte, North Carolina 28202, Collect: (704) 410-4235, Toll Free: (866) 309-6316, Email: liabilitymanagement@ Attention: Liability Management Group, respectively. Important Information about the Exchange Offers The Exchange Offers and Consent Solicitations were made solely pursuant to a Registration Statement on Form S-4 (the "Registration Statement") and related prospectus and consent solicitation statement (as amended or supplemented from time to time, the "Prospectus") relating to the issuance of the New T-Mobile Notes filed with the Securities and Exchange Commission. The information in this press release is qualified by reference to such Prospectus and the Registration Statement. This press release is for informational purposes only and is not an offer to buy or sell or the solicitation of an offer to sell with respect to any securities. The Exchange Offers were not made to holders of Old Array Notes in any jurisdiction in which the making or acceptance thereof would not have been permitted, and this press release does not constitute an offer to participate in the Exchange Offers to any person in any jurisdiction where it is unlawful to make such an offer or solicitations. About the Company T-Mobile US, Inc. is America's supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile's customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Mint Mobile. For more information please visit: Forward-Looking Statements This press release contains forward-looking statements that are based on the Company's management's current expectations. Such statements include, without limitation, statements about the Exchange Offers and Consent Solicitations and the issuance of the New T-Mobile Notes. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including, without limitation, prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect the Company and its results is included in the Company's filings with the SEC, which are available at View source version on Contacts T-Mobile US Media RelationsMediaRelations@ Or Investor Sign in to access your portfolio

Figma's IPO was a huge hit. Here are the companies betting markets think are next in line to debut.
Figma's IPO was a huge hit. Here are the companies betting markets think are next in line to debut.

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Figma's IPO was a huge hit. Here are the companies betting markets think are next in line to debut.

Figma had a wild market debut on Thursday that generated excitement for more IPOs. Figma's debut follows high-profile IPOs from Circle and CoreWeave earlier this year. With hopes that the IPO market is opening up, betting markets have their eye on the next firms to go public. Figma's wild trading debut on Thursday is generating a lot of excitement for more tech IPOs. After an underwhelming 2024 that saw little in the way of IPO activity, the market has bounced back, with several high profile debuts from, Figma, CoreWeave, and Circle Internet Group. Figma's first day of trading saw a collosal 250% pop, withmomentum carrying into a second day on Friday. But online bettors are already focused on spotting the next major IPO. Here's the list of the stocks most likely to formally announce an IPO this year, according to bettors on Kalshi: Klarna: 83% chance Discord: 45% chance Cerebras Systems: 39% chance Databricks: 30% chance Stripe: 19% chance Klarna has been eyeing an IPO for months. It initially filed to go public in March, but paused due to volatility stemming from President Donald Trump's tariffs. However, sources told Bloomberg this week that it could resume plans for an IPO as soon as September. Meanwhile, the popular social media platform Discord has been seen as a likely IPO candidate since Reddit's debut in March 2024. Reddit soared on Friday, spiking 20% on a strong earnings report, bucking a wider sell-off related to tariff jitters and the job market. Both Cerebras and Databricks have seen their odds bolstered by the debut of CoreWeave this year, an AI infrastructure company that is credited with kicking off the 2025 IPO boom. Despite early post-IPO volatility, the stock has outperformed, up 166% this year. Payments firm Stripe rounds out the list, with investors anticipating its debut for years. Read the original article on Business Insider

AI is already replacing thousands of jobs per month, report finds
AI is already replacing thousands of jobs per month, report finds

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time26 minutes ago

  • Yahoo

AI is already replacing thousands of jobs per month, report finds

Artificial intelligence is already replacing thousands of jobs each month as the U.S. job market struggles amid global trade uncertainty, a report has found. The outplacement firm Challenger, Gray, and Christmas said in a report filed this week that in July alone the increased adoption of generative AI technologies by private employers led to more than 10,000 lost jobs. The firm stated that AI is one of the top five reasons behind job losses this year, CBS News noted. On Friday, new labor figures revealed that employers only added 73,000 jobs in July, a much worse result than forecasters expected. Companies announced more than 806,000 job cuts in the private sector through July, the highest number for that period since 2020. The technology industry is seeing the fiercest cuts, with private companies announcing more than 89,000 job cuts, an increase of 36 percent compared to a year ago. Challenger, Gray, and Christmas found that more than 27,000 job cuts have been directly linked to artificial intelligence since 2023. "The industry is being reshaped by the advancement of artificial intelligence and ongoing uncertainty surrounding work visas, which have contributed to workforce reductions," the firm said. The impact of artificial intelligence is most severe among younger job seekers, with entry-level corporate roles usually available to recent college graduates declining by 15 percent over the past year, according to the career platform Handshake. The use of 'AI' in job descriptions has also increased by 400 percent during the last two years. There are other reasons for recent job losses, with more than 292,000 roles having been terminated following cuts connected to the Department of Government Efficiency, previously led by Elon Musk, a former close ally of President Donald Trump, Challenger, Gray, and Christmas found. Senior vice president Andrew Challenger said in a statement, 'We are seeing the federal budget cuts implemented by DOGE impact non-profits and health care in addition to the government.' Amid the rising costs associated with tariffs, layoffs are also increasing in the retail sector, according to the firm. Through July, retailers announced more than 80,000 cuts, an increase of close to 250 percent compared to the same period last year. "Retailers are being impacted by tariffs, inflation, and ongoing economic uncertainty, causing layoffs and store closures. Further declines in consumer spending could trigger additional losses," said the firm. White collar workers are among those at highest risk of having their jobs wiped out by AI, executives have warned. But Challenger said early last month, 'There are roles that can be significantly changed by AI right now, but I'm not talking to too many HR leaders who say AI is replacing jobs,' he added, according to NBC News. In June, Amazon CEO Andy Jassy said AI would 'reduce our total corporate workforce as we get efficiency gains.' But he didn't specify a timeframe. Last month, The Wall Street Journal reported that Ford CEO Jim Farley would replace 'literally half of all white-collar workers in the U.S.' But experts argue that AI is currently affecting the job market in roundabout ways, such as many companies coming under intense pressure to cut costs because of the uncertain economic climate pushed by Trump's tariff policy and concerns about increasing inflation. As such, some companies are spending money on AI software instead of hiring new staff. The CEO of The Josh Bersin Company workforce consultancy, Josh Bershin, told NBC News,'There's basically a blank check to go out and buy these AI tools.' 'Then they go out and say, as far as head count: No more hiring. Just, 'stop.' So that immediately freezes the job market,' he added.

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