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President Donald Trump’s massive tax and spending package will bring sweeping changes to federal student loans, in part by capping how much money people can borrow from the federal government to pay for college and graduate school.Among other measures, the legislation, which Trump has called the “one big, beautiful bill,” sets new limits for students and their families. The following changes go into effect for new borrowers on July 1, 2026:For the first time, borrowers will have a total lifetime borrowing limit of $257,500 for all federal student loans.Unsubsidized student loans for graduate students will be capped at $20,500 per year with a…

CNN  —  Battered by multiple years of high health care costs, employers are planning to shift more of the expense to workers in 2026, a new survey released Wednesday found. Just over half of employers are planning to adjust their health insurance offerings to increase staffers’ share of the cost, such as instituting higher deductibles or annual out-of-pocket maximums, according to Mercer’s Survey on Health and Benefit Strategies for 2026. The tight labor market and rising cost of living in recent years had made companies more reluctant to add to workers’ financial burden, Mercer said. Some 45% of employers reported…

KARACHI: Ahtesham Humiyun and Hassan Usmani registered convincing wins to set up the 21st Westbury National Tennis Championship final in the Under-18 category here at the Karachi Club on Tuesday. Ahtesham swept aside Muzammil Bhand 6-2, 6-3, while Hassan downed Muhammad Yahya 7-5, 6-0 to book their spots in the final. Romaisa Malik, meanwhile, routed Safa Afzal 6-1, 6-0 in the girls U-18 semi-final. In the men’s quarter-finals Kashan Tariq overpowered Asif Ali Bachani 8-2 and Ismail Aftab beat Taimoor Ansari with the same score. Eschelle Asif delivered a flawless 8-0 victory over Taiba Yar Baig in the women’s last-four…

MANAMA: Pakistan’s campaign at the IBSF World Masters Snooker Championship saw contrasting fortunes on Tuesday as Mohammad Asif stormed into the last 16 while compatriot Shahid Aftab bowed out following hard-fought battles. Asif, who won the Saarc Championship last year, delivered a masterclass in the last 24 round, dismantling Wales’ Tony Morgan 3-0. The 42-year-old displayed formidable break-building, sealing victory with runs of 55 [74(55)-10], a near-perfect 90 [106(90)-0] and 61 [89(61)-11]. Asif now faces Mohamed Shehab of the UAE in Wednesday’s last 16 round. Earlier, current national champion Shahid exited the championship after a 4-2 defeat to Qatar’s Bashar…

LAHORE: The Pakistan Cricket Board (PCB) on Monday announced a revamped three-tier departmental cricket structure for the 2025-26 domestic season, marking a significant development in the country’s domestic setup. Set to commence in August and conclude in May 2026, the season will feature over 40 departmental teams divided across three grades — I, II and III. The structure introduces promotion and relegation mechanisms aimed at enhancing competitiveness. Grade-III, a new addition to the structure, will feature a two-day tournament scheduled for March-April 2026. Teams in this tier have been selected based on their performances in the 2024-25 President’s Trophy Grade-II.…

Customers line up at the check out booth on April 18, 2025 at a Costco branch in Niantic, Connecticut.Robert Nickelsberg | Getty ImagesThe annual inflation rate ticked higher in June, in line with expectations, as lower prices at the gasoline pump somewhat offset higher prices at the grocery store.Economists said they expect the full impact from the Trump administration’s tariff agenda to raise consumer prices more in the months ahead — but they said trade policies have already started to noticeably affect inflation.The consumer price index, a key inflation barometer, rose 2.7% in the 12 months through June, up from 2.4% in May, the Bureau…

Washington CNN  —  President Donald Trump said Tuesday the United States has reached a trade agreement with Indonesia, but he offered no details, including how comprehensive a deal might be, any possible terms or when any provisions might take effect. “Great deal, for everybody, just made with Indonesia. I dealt directly with with their highly respected President,” Trump wrote on his social media platform. “DETAILS TO FOLLOW!!!” This marks Trump’s fourth trade agreement announcement in three months. He had previously promised dozens of deals with US trading partners over that time frame, but that has proven tough to reach. One…

Vithun Khamsong | Moment | Getty ImagesAmerican workers who participate in a retirement plan expect to need an average $1.28 million set aside to retire comfortably, according to a new survey from investment management company Schroders.Yet just 30% of workers say they expect to have $1 million or more by the time they retire, the survey found. About half, 48%, expect to have less than $500,000, and 26% expect to have less than $250,000.Other studies point to similar challenges, with Transamerica Center for Retirement Studies reporting that 68% of workers say they could work until retirement and still not have…

CNN  —  US inflation heated back up in June, rising to its highest level in four months, as price increases — including those from tariffs — packed a bigger punch. Consumer prices rose 0.3% last month, pushing the annual inflation rate higher to 2.7%, the highest since February, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics. Tuesday’s data came right in line with what economists were expecting, as gas prices rose for the first time in five months and other prices increased in key services and goods categories. Excluding gas and food,…

CNN  —  “Never mind. Pretend like nothing ever happened.” That might as well have been the text of one provision in President Donald Trump’s mega tax-and-spending-cuts package that reverses more stringent tax-reporting requirements for payment apps when it comes to telling the IRS how much small businesses and freelancers are taking in via business transactions on their platforms. The package also contains a new measure for all businesses that issue 1099-NEC and 1099-MISC forms to report to the IRS how much non-employee compensation they pay to vendors and contractors. It’s a change that upends decades of practice. But we’ll get…