Student debt relief is coming, but college is still expensive

The Biden administration has officially rolled out a plan to cancel some student debt for certain individual borrowers. But that doesn’t change the fact that the cost of college tuition is running at record-high levels. We look at why higher education is so expensive. Plus, get your Federal Reserve “bingo cards” ready for the Jackson Hole Economic Symposium, which kicks off today. If you want to know what to watch for in Fed Chair Jerome Powell’s speech planned for tomorrow, we have you covered. And, welcome news for consumers: A handful of retailers have recently announced they’ll be marking down products to try to get them out the door and clear excess inventory they’ve accumulated during the pandemic.