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<ul class="summary-list"><li>Disney's CFO Hugh Johnston discussed Universal Studios' upcoming theme park, Epic Universe.</li><li>Johnston said in a call it's "generally beneficial" for Disney when other attractions open in Central Florida.</li></ul>Epic Universe's arrival in Central Florida might be good for its direct competitor, Walt Disney World.Disney's Chief Financial Officer Hugh Johnston discussed Universal Orlando Resort's upcoming theme park during Thursday's earnings call. When asked how Epic Universe's May 2025 debut could impact Walt Disney World, Johnston seemed optimistic."The early bookings that we have next summer are actually positive," Johnston said.He said that when other attractions and theme parks open in the area, it's "generally beneficial" for Disney.<div type="image" title="Cinderella's Castle at Walt Disney World in Florida." height="2656" width="3984" msid="115318327" hostid="261" sizebytes="972792"></div>Dennis Speigel, founder of International Theme Park Services, Inc., told Business Insider that Epic Universe's opening will likely bring more foot traffic to Central Florida, which can benefit the local attractions industry."I think the length of stay for the tourists in Florida is going to increase dramatically," he said. "I think people are going to load another day or a day and a half during their visit because there's more to do."Representatives for Disney and Universal Orlando Resort did not immediately respond to Business Insider's request for comment.NBCUniversal first announced Epic Universe in 2019."Our new park represents the single-largest investment Comcast NBCUniversal has made in its theme park business and in Florida overall," Brian L. Roberts, chief executive of Comcast Corporation, said in a press release. "It reflects the tremendous excitement we have for the future of our theme park business and for our entire company's future in Florida."<div type="image" title="Illustration of Universal Orlando Resort's Epic Universe." height="1080" width="1920" msid="115318329" hostid="261" sizebytes="266888"></div>Universal Orlando Resort was the company's oldest park in 1990, followed by Islands of Adventure in 1999 and Volcano Bay in 2017.At Epic Universe, guests will get the opportunity to explore five worlds: Super Nintendo World, The Ministry of Magic from the "Harry Potter" franchise, the Isle of Berk from the "How to Train Your Dragon" franchise, Dark Universe featuring monsters from classic horror films, and Celestial Park.However, Disney shocked fans in August when Experiences Chairman Josh D'Amaro said its parks were also expanding. The announcement came after the Central Florida Tourism Oversight District's board of supervisors approved a <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/desantis-disney-development-deal-fifth-gate-new-theme-park-2024-6">$17 billion development deal</a> from Disney two months earlier.Although Disney won't build a separate theme park, the entertainment giant will add new areas to its existing properties. Magic Kingdom will become home to a land dedicated to Disney villains and another based on the "Cars" franchise.Disney's Animal Kingdom will introduce a new land called Pueblo Esperanza, which will have attractions based on the 2021 film "Encanto" and the "Indiana Jones" series.At Disney's Hollywood Studios, guests will explore a new land based on the company's "Monsters, Inc" films. Finally, Disneyland Resort's Avenger's campus will expand and an attraction related to director James Cameron's "Avatar" series will arrive.According to Thursday's earnings report, Disney expects its Experiences segment's operating income to grow 6% to 8% compared to 2024.

Disney CFO says Epic Universe's opening could boost attendance at Disney's Florida theme parks

<ul class="summary-list"><li>Josh Brolin says he enjoys growing older because it helps him "mellow out."</li><li>The actor spoke to The Times about his tumultuous childhood and past alcohol addiction.</li></ul>After years of struggling with addiction, <a target="_blank" class="" href="https://www.businessinsider.com/josh-brolin-sleeps-with-nicotine-pouches-in-mouth-zyn-2024-11">Josh Brolin</a> says he doesn't think that <a target="_blank" class="" href="https://www.businessinsider.com/simple-tests-show-how-well-aging-do-now-2024-10">aging</a> is a bad thing.In an interview with <a target="_blank" class="" href="https://www.thetimes.com/life-style/celebrity/article/josh-brolin-interview-life-memoir-childhood-cgstbxbp2">The Times</a> published on Saturday, Brolin spoke about how his perspective on life has changed as he's gotten older."I like getting older. It's like a great excuse to finally go, 'OK, just mellow out, you don't need to constantly spin,'" Brolin told The Times.The "Marvel" actor said that he had a tumultuous childhood and started dabbling with substance abuse at a young age, trying marijuana when he was 9 and taking LSD when he was 13.Brolin struggled with alcohol addiction as he got older.He finally got sober in 2013 after seeing his 99-year-old grandmother on her deathbed, the actor said. He paid his dying grandmother a visit after waking up hungover on the streets, and it made him realize that he had many more years to live."I knew that was going to be the last time I drank," Brolin said. It's been over a decade since the actor gave up drinking, and he says that he thinks life is better now."I love being sober. I have more fun," he said. "There's nothing that I go through that I am absolutely certain wouldn't be worse if I was drinking."According to the National Institute on Alcohol Abuse and Alcoholism, alcohol misuse cost the US $249 billion in 2010. Three-quarters of the total cost is related to binge drinking.Based on data from the 2023 National Survey on Drug Use and Health, 28.9 million people aged 12 and older had Alcohol Use Disorder — colloquially referred to as alcoholism — in the past year.In 2020, researchers from the University of Southern California found that every gram of alcohol consumed a day <a target="_blank" class="" href="https://www.businessinsider.com/alcohol-every-day-ages-your-brain-quicker-17000-brain-scans-2020-1">aged the brain by about seven days</a>.<a target="_blank" class="" href="https://www.businessinsider.com/what-can-happen-if-you-drink-too-much-alcohol-2018-4">Excessive drinking</a> can also contribute to weight gain, cause damage to the liver, and even weaken the immune system.According to the CDC, <a target="_blank" class="" href="https://www.cdc.gov/alcohol/faqs.htm">drinking in moderation</a> consists of two drinks a day or less for men, and one drink a day or less for women.Gen Z seems to be taking note. The <a target="_blank" href="https://www.businessinsider.com/gen-z-drinking-less-alcohol-bad-news-concert-venues-promoters-2023-6">younger generation says they are drinking less</a> than their predecessors: A <a target="_blank" href="https://news.gallup.com/poll/353858/alcohol-consumption-low-end-recent-readings.aspx">2021 Gallup survey</a> of 1,000 people found that only 6o% of those aged 18 to 34 said they drank alcohol, compared to 70% of people aged 35 to 54.A representative for Brolin did not immediately respond to a request for comment sent by Business Insider outside regular hours.

Josh Brolin, 56, says he likes growing older because it helps him 'mellow out' amid his past struggles with addiction

A recent study from the <keyword id="23681499" type="General" weightage="20" keywordseo="Ludwig-Maximilian-University" source="keywords">Ludwig Maximilian University</keyword> of Munich has shed light on a growing concern in the world of <keyword id="20016198" type="General" weightage="20" keywordseo="journalism" source="keywords">journalism</keyword>: the comprehensibility of <keyword id="23681497" type="General" weightage="100" keywordseo="AI-generated-news" source="keywords">AI-generated news</keyword> articles. Despite advancements in artificial intelligence, the study found that readers still prefer traditionally crafted news pieces. The study surveyed over 3,000 UK-based online news readers, each evaluating one of 24 <keyword id="23681500" type="General" weightage="20" keywordseo="news-articles" source="keywords">news articles</keyword> — half written by humans and half produced by automation. The findings? Despite editorial oversight from journalists, AI-generated articles fell short on comprehensibility compared to their human-authored counterparts. Lead author Sina Thäsler-Kordonouri noted that readers found automated articles “significantly less comprehensible” overall. One key complaint revolved around language choice in AI articles, with readers pointing out an excess of unusual or overly complex words. Another significant sticking point was how AI-handled numbers and data. For many readers, this treatment was confusing and disrupted the flow of the article, leaving them less satisfied with the <keyword id="23681501" type="General" weightage="20" keywordseo="automated-content" source="keywords">automated content</keyword>. <div type="Article" hostid="261" msid="114568958" title="ChatGPT parent OpenAI is reportedly planning to launch a new AI model soon but not everyone will get it" mstype="2" mssubtype="0"></div>Interestingly, readers did find parity between the two types of articles in terms of narrative flow and structure. However, the challenging word choice and awkward handling of data remained a stumbling block for AI-produced articles. Professor Neil Thurman, who headed the project, emphasised that refining the automated content process could help bridge the <keyword id="23068619" type="General" weightage="20" keywordseo="readability" source="keywords">readability</keyword> gap. This includes not only simplifying language but also finding ways to make data-driven content more intuitively understood by readers. This research highlights the nuanced role of human editors in AI content creation. As newsrooms consider AI’s potential, balancing efficiency with clarity remains key. “Our results indicate the importance not only of maintaining human involvement in the automated production of <keyword id="23681502" type="General" weightage="20" keywordseo="data-driven-news" source="keywords">data-driven news</keyword> content but of refining it,” said Thäsler-Kordonouri. While automation is here to stay, this study makes one thing clear: a human touch still plays a critical role in making news accessible and engaging. <div type="Article" hostid="261" msid="114424676" title="Meta AI will be able to remember your WhatsApp chat with a new feature, know all about it" mstype="2" mssubtype="0"></div>

Can AI really take over journalism? Study shows why readers still prefer human-written news articles over AI-crafted pieces

<keyword id="22782965" type="General" weightage="20" keywordseo="Ashima-Gulati" source="keywords">Ashima Gulati</keyword> is a lawyer turned <keyword id="22782966" type="General" weightage="20" keywordseo="policy-consultant" source="keywords">policy consultant</keyword> with over 7 years of experience in India's public policy arena. Starting off with a B.A.LL.B. (Hons.) from the National Law Institute University in Bhopal, Ashima kicked off her career as a securities and capital markets lawyer in Mumbai. Craving a deeper understanding of India's socio-economic landscape, she made a switch to the development and policy sector. Since her stint in Mumbai, Ashima's had quite the journey, including a two-year fellowship where she taught 70 students from a low-income community and co-founding a non-profit to improve healthcare access for marginalised communities. More recently, while Ashima was working as an independent consultant, collaborating with government, non-profit, and private organisations to build climate resilience and adaptation strategies for these groups, she went on something of a spree and applied to 10 master’s programs that combined general policy insights with climate change and sustainable development. But here’s the kicker: she got into ALL of them and bagged over USD 200,000 in <keyword id="19897091" type="General" weightage="20" keywordseo="scholarships" source="keywords">scholarships</keyword>! The impressive list of colleges and universities she got accepted into include Oxford, Columbia, <keyword id="191548" type="General" weightage="20" keywordseo="cornell" source="Orion">Cornell</keyword>, <keyword id="142498" type="General" weightage="20" keywordseo="university-of-chicago" source="Orion">University of Chicago</keyword>'s Harris School of Public Policy, The Fletcher School at Tufts University and Geneva Graduate Institute, to name a few. As Ashima prepares to leave for Oxford, where she will pursue Master of Public Policy, we got in touch with her to ask her how she managed to achieve this monumental feat. While she works towards her ever-evolving passion for public policy and sustainable development, other aspirants can probably take a page or two out of her book! Ashima attributes her success in applying to international universities to the a few unique aspects. Here are five such major factors that helped her application stand out from the crowd in her own words: Demonstrate the uniqueness of candidature through evidence “I believe it is of utmost importance to be able to substantiate the claims that one makes in their applications with respect to their profile, work experiences, leadership qualities, and most importantly, the impact that one has created in the society. Since my college days, I have maintained a detailed record of all initiatives and opportunities I have engaged in, documenting my involvement thoroughly. For my master’s applications, I included such documentation through publications, data evidence, and other relevant sources. Additionally, I encouraged my recommenders to provide evidence supporting the qualities they intended to highlight in their letters. This approach fosters transparency and credibility in the application, avoiding the use of superlatives and ensuring grounded presentation of one’s profile.” Showcase alignment with the specific program and the university “It is essential to thoroughly research and understand the focus and advantages of the specific program before drafting application essays. This ensures that you can effectively align your profile and professional experiences with the program and the university. The application should clearly demonstrate how the program’s unique features will enhance your knowledge, skills, and career goals. In my view, the applications should be highly tailored to the specific program and university to which one is applying to.” Be honest with one’s limitations and gaps in current knowledge and skill set “In my view, there has to be a demonstrated need for upskilling and applying to the program. One should be able to discuss the obstacles and hindrances one has experienced in their current profile, and a genuine need to upskill to overcome such challenges. Additionally, the application should also discuss how the program/university will help the applicant in addressing such challenges, and in helping one grow in their professional journey.” Connect with alumni and articulate well-considered future goals “Applicants should clearly outline their professional goals, both short-term and long-term, within their applications. It is important to demonstrate that you have engaged with alumni to gain insights into the opportunities provided by the program and the university. Additionally, the application should detail how the program and the university will support you in achieving these advanced goals. This approach reflects thorough research and preparation, showcasing the uniqueness of the program and university as your commitment to leveraging these opportunities effectively.” Discuss your contribution to the growth of the program/university “Many applicants overlook this aspect in their applications. It is crucial to articulate how you will contribute to the program and university both as a current student and as an alumnus. This demonstrates a strong commitment to the institution. You should describe how you plan to leverage your skills and knowledge in specific areas, such as conferences or journals, to contribute meaningfully to the institution. This reflects your genuine interest and dedication to the institute, and a mutual relationship that you wish to nurture with the institute.” While the pointers Ashima shares are undoubtedly helpful, she stresses on how its the candidate profile that matters most. You can check out her profile <a href="https://www.linkedin.com/in/ashima-gulati/?originalSubdomain=in" data-type="tilCustomLink">here</a>. Furthermore, as dedicated as Ashima is towards her cause and her <keyword id="19907717" type="General" weightage="20" keywordseo="education" source="keywords">education</keyword> at the Blavatnik School of Government, University of Oxford, she acknowledges that letting go of the financial stability that her career in law afforded her was not an easy choice to make. However, these acceptances served as affirmations that traditional notions of what a career must look like are evolving, she asserted. She now knows that taking risks in one’s career can be rewarding if done right! Going forward, Ashima is committed to using her education to advance her career in the public policy sector with the goal of contributing to the well-being and uplifting of marginalised communities, mostly by addressing the intersections of education, healthcare and climate change. And we wish her all the very best! <div type="Article" hostid="261" msid="112316410" title="I moved from the US to Germany for college. Tuition is mostly free, but I miss the American school spirit." mstype="2" mssubtype="0"></div>

This Amritsar resident got into Oxford, Columbia, Cornell, and 10 major international programs with over Rs. 1.6 crore in scholarships! She shares 5 tips for fellow applicants

<ul class="summary-list"><li>The FBI said Iran had planned to assassinate Donald Trump. </li><li>It comes amid a spike in political assassinations and plots.</li></ul>When Donald Trump addressed the <a target="_blank" class="" href="https://www.businessinsider.com/republican-national-convention-rnc-biggest-moments-speeches-photos-2024-7">RNC convention</a> to rapturous applause this week, he wore a bandage on his ear and raised his fist in triumph.Just days earlier, he had narrowly evaded an assassin's bullet while speaking at a rally in <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-butler-pennsylvania-rally-secret-service-2024-7">Pennsylvania</a>. It's not the only assassination plot believed to have targeted the former president in recent weeks. On Tuesday,<a target="_blank" class="" href="https://edition.cnn.com/2024/07/16/politics/iran-plot-assassinate-trump-secret-service/index.html"> CNN </a>reported that security officials had uncovered an Iranian plan to kill the GOP's 2024 candidate.These are far from isolated incidents, either nationally or globally.<h2 id="f4455eb0-ad62-4ad7-824a-6d7cca3c6b28">A wave of violence against political leaders</h2>Around the world, politics has been rocked by a wave of assassinations of political leaders, dissidents, and other high-profile figures.In the UK, political assassinations were once rare, but two members of parliament were assassinated in five years. Member of Parliament Jo Cox was killed in 2016 amid the Brexit referendum, and <a target="_blank" class="" href="https://www.businessinsider.com/conservative-mp-david-amess-stabbed-report-2021-10">Sir David Amess in 2021 by an Islamic extremist.</a>In May, Slovakian<a target="_blank" class="" href="https://www.businessinsider.in/international/news/cowardly-and-dastardly-act-pm-modi-condemns-attack-on-slovak-pm-fico-wishes-him-a-speedy-recovery/articleshow/110164825.cms"> Prime Minister Robert Fico </a>narrowly survived being shot by a would-be assassin, and Russian opposition leader Alexander Navalny died in prison in February in what many observers believe was a killing ordered by <a target="_blank" class="" href="https://www.businessinsider.com/putin-said-navalny-death-sad-event-but-such-is-life-2024-3">Russia's President Vladimir Putin. </a>The Kremlin denied the accusations.Last year, former <a target="_blank" class="" href="https://www.businessinsider.com/live-updates-japans-former-prime-minister-shinzo-abe-shot-2022-7">Japanese Prime Minister Shinzo Abe</a>, Ecuadorian presidential candidate Fernando Villavicencio, and Serbian Prime Minister Zoran Djindjic were assassinated.Dissidents have also been targeted. The assassination of <a target="_blank" class="" href="https://www.businessinsider.com/the-murder-of-jamal-khashoggi-2019-10">Saudi Arabian dissident Jamal Khashoggi in the Saudi consulate in Turkey</a> in 2018 was, according to the CIA, likely committed on the direct orders of Saudi ruler Mohammed bin Salman. Saudi Arabia said the allegations were "'negative, false, and unacceptable."<h2 id="5ff4d59d-08a3-4531-814e-0c1d63183db1">Political violence is on the rise</h2><div type="image" title="khashoggi" height="1333" width="2000" msid="111842518" hostid="261" sizebytes="99874"></div>Though data on the frequency of political assassinations is hard to come by, studies do indicate a spike in the number of ideologically motivated killings being committed globally.According to the University of<a target="_blank" class="" href="https://www.start.umd.edu/gtd/search/Results.aspx?expanded=no&amp;casualties_type=b&amp;casualties_max=&amp;dtp2=all&amp;success=yes&amp;attack=1&amp;ob=GTDID&amp;od=desc&amp;page=1&amp;count=100#results-table"> Maryland's Global Terrorism Database</a>, the number of political assassinations rose steadily from fewer than 100 in 1999 to 900 in 2015 and around 600 in 2020 (the last year where data is available.)Bruce Hoffman, an expert on terrorism at the Council on Foreign Relations, told Business Insider that rising political violence is the outcome of increasing global instability.And the violence, he said, is the "ineluctable outcome of the factors producing the rising global instability — namely, the growing political polarization leading to extremism that we see in a variety of western democracies and the collapse in confidence of the liberal democratic state leading to the growing embrace extremist or authoritarian solutions.""Finally, there is the rise in mistrust and lack of confidence in elected leaders — all of which has created the rising global instability," said Hoffman.It's worth noting that the motivation of the would-be Trump assassin in Pennsylvania remains unknown. According to the <a target="_blank" class="" href="https://www.nytimes.com/2024/07/17/us/trump-shooting-crooks-motive.html">New York Time</a>s, the shooter had searched for images of Trump, President Joe Biden, Attorney General Merrick Garland, and FBI Director Christopher Wray on his cellphones and other electronic devices.But other assassination plots have had very clear political motivations. In 2020, a plot targeting Michigan Gov. Gretchen Whitmer was formed by far-right militia members, while <a target="_blank" class="" href="https://www.businessinsider.com/paul-pelosi-attacker-david-depape-sentence-terrorism-2024-5">Paul Pelosi, the husband of former House Speaker Nancy Pelosi,</a> was attacked in 2022 by a hammer-wielding assailant who'd promoted right-wing conspiracy theories.The plots aren't confined to the far-right, with a gunman who'd espoused left-wing views opening fire and injuring conservative lawmakers at a baseball event in Washington, DC, in 2017.Tommy Mair, the man responsible for murdering UK MP Jo Cox, had also promoted far-right views, while the Fico assassination attempt is believed to have been committed for political reasons.<h2 id="034c2068-5445-4e6a-8220-5f1be0bb7c06">State-backed assassinations spread chaos</h2><div type="image" title="Fico assassination" height="682" width="1024" msid="111842517" hostid="261" sizebytes="38552"></div>Another factor behind the spike in assassinations is the increasing instability of the global political order.Assassinations ordered or committed by nation-states are on the rise amid intensifying competition, an erosion of the norms that governed international politics, and a perceived waning of US power.States such as India and Saudi Arabia are aggressively asserting themselves.Incidents such as the Khashoggi killing may once have sparked severe repercussions, but the US needs strong Saudi ties to maintain its power in the Middle East. It's not just US allies, but enemies that are exploiting the confusion.The Trump assassination wasn't the only one being allegedly planned by Iran on US soil, with Trump administration <a target="_blank" class="" href="https://www.businessinsider.com/john-bolton-embarrassed-low-price-300000-assassination-iran-irgc-2022-8">figures such as John Bolton </a>and leading dissidents also targeted.Hoffman pointed to another pattern behind recent state-sponsored plots in the US: They're often planned in US election years to evade repercussions."Foreign countries believe opportunistically they can perhaps escape retribution by striking in an election year," he said.<h2 id="83e84d11-cf22-4db5-b35e-5bbc6443340d">New technology makes assassinations easier</h2>New technology is making assassinations easier, with one Russian plot against Ukrainian president Volodymyr Zelenskyy involving exploding drones that don't require the assassin to get close to the target. It's an echo of the plot to kill Venezuelan President Nicholas Maduro with drones in 2018.<a target="_blank" class="" href="https://gnet-research.org/2022/06/23/the-future-is-now-the-use-of-3d-printed-guns-by-extremists-and-terrorists/">According to experts,</a> terrorists are increasingly using 3D printed guns. A home-assembled firearm was used to kill Abe to evade Japanese gun control laws.The motives of political assassins, say experts, are varied. Some believe they can tip the balance in elections, others are acting on the orders of authoritarian governments to intimidate dissidents, while some are acts of war to eliminate crucial figures in an enemy government or military.But a core motivation for some, argue Hoffman and analyst Jacob <a target="_blank" class="" href="https://warontherocks.com/2022/08/the-accelerating-threat-of-the-political-assassination/">Ware in a 2022 article,</a> is to accelerate global chaos and violence."For extremists seeking to sow chaos and speed up some cataclysmic societal collapse, high-profile politicians provide an attractive target" as they embody the order the assassins want to destroy, they said.

Political assassinations are on the rise. It's a symptom of growing global instability.

<ul class="summary-list"><li>The billionaire Robert Kraft has donated $1 million to Yeshiva University for a new program.</li><li>The program "will help accommodate transferring Jewish students," the university said.</li></ul>Robert Kraft, the billionaire owner of the New England Patriots, has donated $1 million to Yeshiva University to establish a program for Jewish transfer students after yanking his support from Columbia University.<a target="_blank" class="editor-rtfLink" href="https://www.yu.edu/news/yu/robert-kraft-establishes-blue-square-scholars-program-yeshiva-university">Yeshiva University</a>, a private Orthodox Jewish institution in New York City, said in a press release Tuesday that the Blue Square Scholars program "will help the University accommodate transferring students who are switching to YU for its quality education and nurturing campus atmosphere."The university earlier said it had <a target="_blank" href="https://abc7ny.com/post/yeshiva-university-sees-spike-jewish-student-enrollment-after/14857353/">seen an increase in enrollment</a> since the start of the conflict in Gaza, which has divided universities across the country."In the aftermath of October 7th, YU has been at the forefront of universities fighting the rise of antisemitism on college campuses across the country and has opened its doors to transfer students who feel unsafe on their current campuses," the university said.<div type="image" title="Robert Kraft at a podium with a medal around his neck" height="1996" width="3000" msid="111386716" hostid="261"></div>The press release said Kraft's donation would aid the university's efforts to help Jewish students <a target="_blank" href="https://www.businessinsider.com/1600-harvard-alumni-may-pause-donations-anti-semitism-row-2023-11">grappling with antisemitism</a>. Kraft founded the Foundation to Combat Antisemitism in 2019."I am honored to establish the Blue Square Scholars program at Yeshiva University in order to give students a welcoming place to further their education and grow into leaders who will serve as advocates for unity and respect and will push back on all hate," Kraft said in a statement.Representatives for Yeshiva University and Kraft did not respond to a request for comment.Kraft's $1 million donation came two months after he severed ties with Columbia University, his alma mater.<div type="image" title="Protesters outside Hamilton Hall at Columbia University" height="2836" width="4085" msid="111386718" hostid="261"></div>Kraft had been a reliable megadonor for Columbia University but criticized the school after campus protests broke out in April. Pro-Palestinian protesters <a target="_blank" href="https://www.businessinsider.com/columbia-protest-demand-israel-divest-gaza-history-2024-4">held demonstrations</a> calling for a cease-fire and demanding the school divest from Israel and any companies doing business in the country.In a full-page ad in May, Kraft accused <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/robert-kraft-columbia-donor-elite-schools-failed-hate-protests-ads-2024-5">elite universities of causing hate</a> on campuses. "The leadership and faculty of so many of our leading educational institutions have failed their students," he wrote.Other universities, <a target="_blank" href="https://www.businessinsider.com/harvard-president-claudine-gay-resignation-students-react-2024-1">like Harvard</a>, have also faced the ire of Jewish megadonors over student protests against the war.Islamophobia, meanwhile, has <a target="_blank" href="https://ca.cair.com/sfba/news/cair-calls-on-400-university-leaders-to-stop-targeting-anti-genocide-protesters-and-enabling-islamophobia-anti-palestinian-racism/">also increased</a> on college campuses amid the war.Despite his criticisms, Kraft told CNN he would still support the Kraft Center for Jewish Student Life at Columbia.

Robert Kraft donates $1 million to Yeshiva University to help Jewish transfer students after axing support for Columbia University

<ul class="summary-list"><li>Satellite images show a <a target="_blank" class="" href="https://www.businessinsider.com/mystery-siberia-exploding-craters-may-have-finally-been-solved-methane-2024-1">giant hole in Siberia</a> is rapidly expanding.</li><li>The Batagay megaslump is a result of the ground thawing and collapsing as Arctic temperatures rise.</li></ul>A <a target="_blank" class="" href="https://www.businessinsider.com/scientists-crack-mystery-of-huge-gravity-hole-in-the-indian-ocean-2023-6">giant hole in the earth</a> is breaking open the land in Siberia, and photos from space show it's growing rapidly.It's the shape of a stingray, a horseshoe crab, or a giant tadpole. It started as a sliver, barely visible in declassified <a target="_blank" class="" href="https://www.businessinsider.com/satellite-photos-air-force-ace-airfield-tinian-pacific-island-2023-11">satellite imagery</a> from the 1960s.<div type="image" title="black and white satellite image of a landscape with a label indicating a thin crack among other similar cracks near a mountain" height="381" width="453" msid="112931993" hostid="261" sizebytes="45432"></div>Now it's a chasm with steep cliffs, clearly <a target="_blank" class="" href="https://www.businessinsider.com/astronaut-photos-from-space-station-beauty-climate-change-2021-8">visible from space</a>.The hole tripled in size between 1991 and 2018, according to the <a target="_blank" class="" href="https://eros.usgs.gov/earthshots/the-craters-size">US Geological Survey</a>.<div type="image" title="satellite images of large green forest area with giant pit shaped like a stingray where the side by side images show the pit double in size" height="1500" width="3000" msid="112931996" hostid="261" sizebytes="128588"></div>The Batagay crater, sometimes referred to as Batagaika or as the "gateway to hell," is representative of a much larger, often invisible problem that <a target="_blank" class="" href="https://www.businessinsider.com/melting-glaciers-ice-sheets-sea-level-rise-climate-disaster-2022-12">affects the entire planet</a>.<h2 id="4dee8c52-f0db-4ff3-a31a-4c17ffafa4da">What is this hole in Siberia?</h2><a target="_blank" class="" href="https://www.businessinsider.com/beavers-invade-alaska-arctic-tundra-photos-satellite-images-damage-2023-1">The Arctic is heating up</a> faster than the rest of Earth, and that's quickly thawing the permafrost, which is a thick layer of soil that's permanently frozen — at least, it used to be.The Batagay crater isn't actually a crater at all. It's the world's largest "retrogressive thaw slump," which is a pit that forms when <a target="_blank" class="" href="https://www.businessinsider.com/forty-six-thousand-year-old-worm-found-siberian-permafrost-brought-back-to-life-2023-7">permafrost thaw</a> causes the ground to cave in, creating a landslide as the earth at its edges slumps into the pit.There are thousands of thaw slumps across the Arctic. But the size of the Batagay "crater" has earned it the title of megaslump. It's named for the nearby town of Batagay.<div type="image" title="large crater with steep walls dropping off from a green landscape into a hilly bumpy valley" height="1500" width="2667" msid="112931997" hostid="261" sizebytes="144392"></div>"<a target="_blank" class="" href="https://www.businessinsider.com/75-alaskan-rivers-turning-orange-even-seen-from-space-study-2024-5">Permafrost</a> is not the most, let's say, photogenic of subjects," Roger Michaelides, a geophysicist at Washington University in St. Louis, told Business Insider. "You're talking mostly about frozen dirt underground, which by definition you often can't see unless it's been exposed somehow, like in this megaslump."That makes the Batagay pit a bit of a permafrost celebrity and an omen of what lies ahead.<h2 id="44febbd2-3684-4499-964a-697072151e54">The Batagay megaslump could help decode our planet's future</h2><div type="image" title="red satellite image of a landscape with a mountain next to a giant stingray-shaped pit" height="1081" width="1219" msid="112931992" hostid="261" sizebytes="147342"></div>As permafrost thaws, all the dead plants and animals that have been frozen inside it for centuries start to decompose, belching carbon dioxide and <a target="_blank" class="" href="https://www.businessinsider.com/google-map-methane-leaks-world-can-see-2024-2">methane into the atmosphere</a>.Those are <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-spacex-carbon-tax-methane-rocket-fuel-2021-10">powerful heat-trapping gases</a>, which cause global temperatures to rise even more, triggering even faster permafrost thaw.This vicious cycle could have dire effects. Permafrost covers 15% of the land in the Northern Hemisphere. In total, it contains twice as much carbon as the atmosphere.One <a target="_blank" class="" href="https://www.ualberta.ca/en/folio/2022/10/thawing-country-of-permafrost-likely-to-emit-as-much-greenhouse-gas-as-a-large-industrial-nation.html">study</a> estimated that permafrost thaw could emit as much planet-warming gases as a large industrial nation by 2100, if industries and countries don't aggressively reign in their own emissions today."There's a lot we don't know about this feedback loop and how it will play out necessarily, but the potential is there for very large changes to the climate system occurring over very, very fast geologic timescales," Michaelides said.In short, permafrost thaw could quickly make <a target="_blank" class="" href="https://www.businessinsider.com/florida-residents-moving-leaving-climate-change-refugees-hurricanes-flood-2023-2">the climate crisis</a> much worse. But it's still a mysterious process. Studying extreme sites like the Batagay megaslump can help scientists understand permafrost thaw and peer into the future.In a <a target="_blank" class="" href="https://www.sciencedirect.com/science/article/abs/pii/S0169555X24001338?via%3Dihub">study</a> published in the journal Geomorphology in June, researchers used satellite and drone data to construct 3D models of the megaslump and calculate its expansion over time.They found that about 14 Pyramids of Giza's worth of <a target="_blank" class="" href="https://www.livescience.com/planet-earth/arctic/siberias-gateway-to-the-underworld-is-growing-a-staggering-amount-each-year">ice and permafrost</a> had thawed at Batagay. The crater's volume increases by about one million cubic meters every year."These values are truly impressive," Alexander Kizyakov, the study's lead author and a scientist at Lomonosov Moscow State University, told BI in an email."Our results demonstrate how quickly permafrost degradation occurs," he added.The researchers also calculated that the megaslump releases about 4,000 to 5,000 tons of carbon each year. That's about as much as the annual emissions from 1,700 to 2,100 US homes' energy use.Michaelides said those numbers didn't surprise him, but they can help inform models of future permafrost thaw and emissions."I think there is a lot we can learn from Batagaika, not only in terms of understanding how Batagaika will evolve with time, but also how similar features might develop and evolve over the Arctic," Michaelides said. "Even if they're a tenth or a hundredth the size of Batagaika, the physics is fundamentally the same."

A giant hole in Siberia is visible from space and growing rapidly. It might reveal hints about our planet's future.

<ul class="summary-list"><li>Bipartisan support is growing for a US sovereign wealth fund.</li><li>The Alaska Permanent Fund, which distributes money to Alaska residents annually, could be a model.</li></ul>Bipartisan momentum is building around a <a target="_blank" href="https://www.businessinsider.com/trump-and-biden-us-should-have-a-sovereign-wealth-fund-2024-9">sovereign wealth fund that could help the United States</a> reduce its national debt or fund ambitious projects.At the White House, President Joe Biden's top aides have circulated plans for a fund to finance national security interests. And former President Donald Trump recently called for a similar state-owned investment fund to finance "great national endeavors" during a campaign stop at the Economic Club of New York.It is unclear how an American fund would be funded or how it would operate. However, lawmakers might have something of a model in <a target="_blank" href="https://www.businessinsider.com/alaska-permanent-fund-basic-income">The Alaska Permanent Fund</a>, which distributes the money it makes to the state's residents as annual dividends."The fund was initially established with revenue from mineral extraction, primarily oil, but within a few years after its initiation, its primary source of revenue is investment returns," Sarah Cowan, executive director of the Cash Transfer Lab, previously told Business Insider. "It diversifies the Alaskan economy because, at this juncture, the revenue from this fund primarily does not come from oil."Alaska's fund offers benefits that mimic a universal basic income — a no-strings-attached, recurring payment distributed to people regardless of socioeconomic status. But there are some key differences. For one, the dividend doesn't come out of taxes; it's paid only annually and doesn't equate to a livable wage.Federal lawmakers likely see a sovereign wealth fund serving a different purpose, like supporting industries or financing supply chain initiatives. Creating one at the national level also comes with more legislative hurdles."Typically, many countries went through special law making to create a SWF, defining the SWF's source of capital, investment mandate, and supervision system," Winston Ma, an adjunct professor at NYU and the author of The Hunt for Unicorns: How Sovereign Funds Are Reshaping Investment in the Digital Economy, wrote to Business Insider by email. "Therefore, it's not a simple corporate setup. It will involve lots of collaborative work between the executive and legislative branches — after the election."Sovereign wealth funds — like Alaska's or Norway's Government Pension Fund Global, which is the largest in the world — are often funded by wealth generated from state-owned natural resources. The issue is that "natural resources in the US are mostly owned by the states," Ma said. So, consolidating those revenue streams might require some back and forth.

The US is considering a sovereign wealth fund. Alaska already has one, and it's funding a universal basic income.

<ul class="summary-list"><li>Lithium-ion batteries are the most common type of battery found in electric vehicles.</li><li>Scientists found they contain PFAS or 'forever chemicals' found in air, water, snow, soil, and sediment.</li></ul>Scientists have uncovered a new source of hazardous "forever chemical" pollution: the rechargeable lithium-ion batteries found in most electric vehicles.Some lithium-ion battery technologies use a class of <a target="_blank" href="https://www.businessinsider.com/what-are-pfas-chemicals-2018-8">PFAS chemicals</a>, or per-and polyfluoroalkyl substances, that helps make batteries less flammable and conduct electricity. Scientists found high levels of these PFAS in air, water, snow, soil, and sediment samples near plants that make those chemicals in the US, Belgium, and France, according to a <a target="_blank" href="https://doi.org/10.1038/s41467-024-49753-5">peer-reviewed study</a> in the journal Nature Communications.PFAS are known as "forever chemicals" because they <a target="_blank" href="https://www.businessinsider.com/chart-how-long-hazardous-forever-chemicals-pfas-stay-in-blood-2023-3">build up quickly</a> in the environment, people, and animals and don't break down for thousands of years. They've been linked to a host of health conditions, including <a target="_blank" href="https://www.atsdr.cdc.gov/toxprofiles/tp200.pdf">liver damage</a>, high <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2831917/">cholesterol</a>, low <a target="_blank" href="https://ehp.niehs.nih.gov/1408837/">birth weights</a>, and chronic <a target="_blank" href="https://academic.oup.com/aje/article/174/8/893/155305">kidney disease</a>.The findings underscore how switching to cleaner cars and renewable energy is key to solving the climate crisis, but comes with its own set of trade-offs that are still emerging and understudied. While the environmental and health impacts of mining lithium and other minerals used in batteries, solar panels, wind turbines, and other technology are well documented, it's only now that researchers are uncovering lithium-ion batteries as a source of PFAS pollution."Slashing [carbon dioxide] emissions with innovations like electric cars is critical, but it shouldn't come with the side effect of increasing PFAS pollution," Jennifer Guelfo, an associate professor of environmental engineering at Texas Tech University and coauthor of the study, said in a statement.It's an issue of global concern because lithium-ion batteries are used worldwide, the study said. The same class of PFAS has recently been detected at low levels in European and Chinese water, but the source of the pollution was unclear.The specific class of PFAS that Guelfo's team found is called bis-perfluoroalkyl sulfonimides, or bis-FASIs. Scientists tested more than a dozen lithium-ion batteries used in EVs and consumer electronics like laptops, and found bis-FASIs at various concentrations.It's hard to know just how widespread the chemicals are in specific lithium-ion batteries because there isn't enough research yet, Lee Ferguson, associate professor of environmental engineering at Duke University and coauthor of the study, said.Guelfo said bis-FASIs is comparable to "older notorious" chemicals like PFOA, in part because they are extremely difficult to degrade and studies show the chemicals change the behavior of aquatic organisms at low concentrations. PFOA has been phased out of production in the US but <a target="_blank" href="https://www.businessinsider.com/epa-hazardous-forever-chemicals-drinking-water-limits-2024-4">continues to pollute drinking water</a>.The study was the first "cradle-to-grave" evaluation of the environmental impacts of bis-FASI use in lithium-ion batteries. The effects of bis-FASIs in humans hasn't been studied yet.The scientists detected bis-FASIs chemicals at parts per billion levels — much higher than the limits the Environmental Protection Agency <a target="_blank" href="https://www.businessinsider.com/epa-hazardous-forever-chemicals-drinking-water-limits-2024-4">set for PFAS in drinking water in April</a>. Strategies to get rid of PFAS in drinking water can also remove bis-FASIs, the study said, which should become more widely adopted due to EPA's regulations. However, chemical makers and some water utilities <a target="_blank" href="https://www.npr.org/sections/shots-health-news/2024/06/21/nx-s1-5013957/pfas-forever-chemicals-drinking-water-rule-lawsuits">have challenged the agency in court.</a>Other routes of exposure to bis-FASIs exist. Air emissions data suggest the chemicals can travel to areas far from manufacturing sites. They can also leach into the environment from landfills, where the majority of lithium-ion batteries end up.The study said only about 5% of lithium-ion batteries are recycled, and by 2040, there could be some 8 million tons of lithium-ion battery waste.Guelfo said scientists, engineers, manufacturers, and policymakers need to develop battery technology and recycling solutions that don't exacerbate PFAS pollution."We need to be carefully evaluating these chemicals that are being used in sustainable energy infrastructure," Guelfo said. "We should be evaluating them now before it becomes a more widespread problem. We an opportunity to really maximize the idea of sustainability."Companies including 3M, Solvay, and Arkema either hold patents for bis-FASIs or advertise its production or use, the study said. (In December — after the research was conducted — Solvay spun off its specialty and applied chemical businesses into a new entity named Syensqo. The lithium battery business is housed there.)Scientists focused their research on areas near the companies' manufacturing plants in Minnesota, Kentucky, Antwerp, Belgium, and Salindres, France.3M has manufactured PFAS for decades and last year <a target="_blank" href="https://www.nytimes.com/2023/06/22/business/3m-settlement-forever-chemicals-lawsuit.html">agreed to a $10 billion settlement</a> with US cities and towns over their claims that the company contaminated drinking water with forever chemicals. 3M said it will exit all PFAS manufacturing by the end of 2025.The company's settlement followed another agreement by Chemours, DuPont and Corteva to pay $1.19 billion to help resolve thousands of lawsuits.Correction: July 8, 2024 — This story was updated to clarify the name of one of the companies that make EV battery materials. After the research, Solvay spun off its lithium battery business into a new entity named Syensqo.

The most common type of EV battery is a growing source of 'forever chemical' pollution, scientists say

<ul class="summary-list"><li>The 2024 Mount Everest climbing season was delayed due to crumbling ice in the Khumbu Icefall. </li><li>The Khumbu Icefall is one of the most dangerous obstacles to cross on the path to Everest's summit.</li></ul><a target="_blank" href="https://www.businessinsider.com/everest-sherpa-guide-breaks-down-gear-he-uses-to-summit-2024-2">Climbing Mt. Everest</a> is a dangerous endeavor right from the start. Before climbers summiting via the South Col route can even make it to Camp 1, they must face one of the deadliest passages of all. A 1.6-mile stretch of slowly cascading ice just above Base Camp called the Khumbu Icefall.It's a treacherous maze of crevasses that can stretch over 300-feet-deep and house-sized "ice towers" that can break free unexpectedly, triggering deadly avalanches like the one that <a target="_blank" href="https://www.businessinsider.com/everest-sherpas-have-higher-death-rates-than-all-other-careers-2014-4">killed three Sherpas</a> last year.<div type="image" title="wide view of the Khumbu Icefall" height="1414" width="2121" msid="109841058" hostid="261" sizebytes="864764"></div>It's called an icefall because it looks like a frozen waterfall, but here on Everest, the term "fall" might as well be a <a target="_blank" href="https://www.businessinsider.com/dead-bodies-on-mount-everest-are-hard-to-get-down-2019-5">dire warning to all</a>. As of 2016, six people had fallen to their deaths, and that's just a small portion of the total lives lost to the Khumbu.This icefall is so perilous a dedicated team of specialized workers is responsible for charting a safe route through it. They're called the Icefall Doctors, and this year, they delayed <a target="_blank" href="https://www.businessinsider.com/mount-everest-trash-crowds-climbers-edmund-hillary-sherpa-team-member-2024-3">Everest's climbing season</a> by 12 days due to unsafe conditions on the Khumbu Icefall.And it will only become more dangerous as <a target="_blank" href="https://www.businessinsider.com/mount-everest-base-camp-to-move-due-to-climate-change-2022-6">global temperatures rise</a>, Paul Mayewski, Mount Everest researcher and climatologist at the University of Maine, told Business Insider. He studies how climate change is affecting the highest peaks on our planet.<h2>What makes the Khumbu Icefall so dangerous</h2><div type="image" title="A climber scales a ladder in the Khumbu Icefall" height="480" width="640" msid="109841059" hostid="261" sizebytes="24868"></div>The Khumbu Icefall is essentially a slow-moving river of ice that gradually falls down the mountain as the Khumbu <a target="_blank" href="https://www.businessinsider.com/melting-glaciers-ice-sheets-sea-level-rise-climate-disaster-2022-12#:~:text=The%20Columbia%20Glacier%20in%20Alaska,told%20Insider%20in%20an%20email.">Glacier recedes</a>.Its movement is what makes it so unstable, giving rise to deep crevasses and deadly avalanches.Between 1953 and 2019, 45 people lost their lives on the Khumbu Icefall. The three major causes of death were avalanches onto the icefall (49% of deaths), icefall collapse (33%), and falling into a crevasse (13%), according to Alan Arnette, a Mount Everest summiter and climbing coach who writes a <a target="_blank" href="https://www.alanarnette.com/blog/">blog</a> about the mountain.At the beginning of each climbing season, the Icefall Doctors are the first to traverse this treacherous icefall. They find the safest route through it, laying ropes and ladders along the way to help people navigate its <a target="_blank" href="https://www.businessinsider.com/everest-photos-show-reality-of-climb-2018-5">cliffs and crevasses</a>.This year, the Icefall Doctors repeatedly encountered dangers that slowed their process. Insufficient winter snowfall and high temperatures destabilized ice towers and bridges, forcing them to re-evaluate their route several times, <a target="_blank" href="https://www.outsideonline.com/outdoor-adventure/everest/mount-everest-delay/">Outside</a> reported."Going up there one part of the day and coming down the next day could look very different. And the probability of that getting worse with a warmer climate increases," Mayewski said.<h2>Climate change is messing with the Khumbu Icefall</h2><div type="image" title="Khumbu Icefall photographed from below" height="1414" width="2121" msid="109841060" hostid="261" sizebytes="514820"></div><a target="_blank" href="https://www.businessinsider.com/remains-of-long-lost-people-discovered-as-glaciers-melt-2023-7">Rapid melting causes glaciers</a>, like the Khumbu Glacier, to shrink and erode. In turn, this leads to more lakes and streams, but on a more dangerous level it also increases the risk of avalanches, ice falls, and crevasses, Mayewski said."The likelihood of that getting <a target="_blank" href="https://www.businessinsider.com/before-and-after-pictures-of-glaciers-melting-2014-5">worse in a warmer climate</a> increases because ice becomes more mobile," he said. "The warmer it is, the more flowing water. And that flowing water obviously destabilizes the ice."Mayewski's research suggests that conditions are changing all over Mount Everest, not just in this region. His study of the South Col, Everest's highest glacier, revealed that one-third of its ice has disappeared in the last two to three decades."Even just walking around <a target="_blank" href="https://www.businessinsider.com/basecamp-strategy-mike-reid-when-democrats-turn-out-burnout-sham-2021-11">base camp</a>, it's very obvious that there's been a lot of melting," he said.<h2>These aren't the only dangers</h2><div type="image" title="Mountaineer stepping over a small crevasse across snow-covered Khumbu Icefall on Mt. Everest" height="1414" width="2121" msid="109841062" hostid="261" sizebytes="420626"></div>While it's clear that climate change is making conditions in the Khumbu Icefall more dangerous, not all risks on Mount Everest are related to climate, Arnette points out.In 2023, the deadliest climbing year in Mt. Everset's history, 15 of the 18 total deaths were caused by acute mountain sickness, falls, and disappearances. He feels that most of these deaths were likely preventable.For example, acute mountain sickness — a mild form of altitude sickness — can be treated if climbers and their guides recognize the symptoms quickly and get to lower elevation, Arnette said. But if climbers choose to keep going, their condition can turn deadly. AMS claimed eight lives on Everest last year, according to the Himalayan Database.Arnette believes that introducing <a target="_blank" href="https://www.businessinsider.com/why-some-sherpas-say-no-more-everest-guides-2024-2">more safety enforcement</a> on the mountain would go a long way to reduce fatalities. Climbers sometimes put themselves at risk too, by opting for low-cost operators, tackling Everest without enough climbing experience, or refusing to turn back even when showing signs of illness. In that last case, Sherpas often have difficulty convincing their clients to throw in the towel due to language and cultural barriers, Arnette said.Will the added risks driven by climate change make climbing Everest impossible one day? Mayewski doesn't think so."Will people still be able to do it? Yeah, I think they will. Will it be more dangerous? Arguably yes — it's already pretty dangerous," he said.

One of Mt. Everest's deadliest passages is growing even more treacherous 

<ul class="summary-list"><li>Biden has implemented targeted student-loan forgiveness efforts over the past few years.</li><li>BI spoke to some millennials who received relief through different programs.</li></ul>Scott M. Smith, 40, wasn't expecting <a target="_blank" href="https://www.businessinsider.com/new-student-loan-forgiveness-borrowers-save-plan-pslf-debt-cancellation-2024-4">student-loan forgiveness</a>.After receiving his master's in education administration in 2015 — preceded by his undergraduate education degree in 2008 — Smith held a student-loan balance of about $30,000 from both degrees. Since his work has been in public service, currently as a teacher, Smith decided to apply for the <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-who-qualifies-for-latest-debt-relief-idr-2023-12">Public Service Loan Forgiveness program</a>, which forgives student debt for government and nonprofit workers after 10 years of qualifying payments.But despite working full time for a qualifying employer, Smith said, he wasn't hopeful for forgiveness because his student-loan servicer told him in 2022 he hadn't met his qualifying payments.That all changed with a letter from his servicer — reviewed by Business Insider — on February 15, 2023, stating: "We determined you have successfully met the requirements of the PSLF Progam and your loans listed below have been forgiven. Thank you for your public service!"With that letter, Smith's remaining $23,086 student-debt balance was officially gone."I was shouting it from the rooftops and walking around my school like, 'Hey, everybody who's been out of school for 10 years or so,' advertising that," Smith told BI. "So then I was helping a lot of my colleagues to get that information, as well."<div type="image" title="Scott M. Smith" height="315" width="420" msid="112523207" hostid="261" sizebytes="11892"></div>Since the Supreme Court <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-forgiveness-blocked-supreme-court-strikes-down-debt-cancellation-2023-5">blocked President Joe Biden's broad student-loan forgiveness plan</a> last summer, the Education Department has erased debt piecemeal by focusing on existing programs like PSLF. Many of these previously did not work as intended due to administrative hurdles and paperwork errors that left borrowers paying off more than they might've owed.Such <a target="_blank" href="https://www.businessinsider.com/student-loan-debt-cancellation-payment-pause-borrowers-disabilities-defrauded-2021-6">programs have provided relief to millions of borrowers over the past few years, including </a>borrowers <a target="_blank" href="https://www.businessinsider.com/biden-education-department-cancels-student-debt-borrowers-disabilities-paperwork-cardona-2021-3">with a total and permanent disability</a>, those <a target="_blank" href="https://www.businessinsider.com/biden-wiped-out-student-debt-education-department-corinthian-college-2022-6">defrauded by the schools they attended</a>, and those who had <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-debt-cancellation-save-income-driven-payment-plan-2024-2">made at least 20 years of qualifying payments</a> on income-driven repayment plans but had yet to receive the relief they were eligible for.The relief is a particular bright spot for people of Smith's age.Millennials who've gotten their loans wiped out told BI that they're now able to celebrate by investing in their futures and pursuing other life goals, such as buying a home, that their generation has famously lagged in pursuing.In the $1.7 trillion student-debt crisis, which affects over 40 million Americans, <a target="_blank" href="https://www.businessinsider.com/typical-student-loan-borrower-balance-millennial-woman-debt-relief-biden-2023-11">millennials, who are roughly 28 to 43, today </a>hold a significant portion of the load. According to recent Federal Student Aid <a target="_blank" href="https://studentaid.gov/data-center/student/portfolio">data</a> for the third quarter of 2023, 14.8 million student-loan borrowers ages 25 to 34 — older Gen Zers and younger millennials — hold $483 billion outstanding in student debt. That same data shows that 12.2 million borrowers ages 35 to 49 — older millennials and younger Gen Xers — hold $534 billion outstanding in student debt.<a target="_blank" href="https://www.federalreserve.gov/publications/files/2023-report-economic-well-being-us-households-202405.pdf">According</a> to the Federal Reserve, the median amount of student debt borrowers held in 2023 was between $20,000 and $24,999, and borrowers with higher levels of education were more likely to carry larger student debt loads.This relief could not have come at a better time for Smith. He said that he and his wife were hoping to grow their family with a second child but that his nearly $600 student-loan payments being deducted from his bank account each month strained their budget, making it difficult to plan for baby No. 2. The loan forgiveness has freed up their budgets to buy a larger car for their family — and he and his wife are now expecting."We have another thousand dollars every two months that we could put into something else," Smith said.Knowing how many borrowers have student debt, Smith said he's grateful for this relief, which allows him to move forward in life and grow his family without that financial burden weighing him down."It was huge. It really started things to be as great as they are right now," Smith said. "I'm the happiest that I've ever been, and that was a definitive point. February of 2023 was when things started to get better again."<h2 id="10129122-48c9-4ef3-a0e4-36323175654d">The freedom to go back to school</h2>For Paul Smylie, 39, student-loan forgiveness means something else.After graduating with an undergraduate degree in geography in 2007, Smylie had a student-debt balance of just over $36,000. He began repaying those loans on an <a target="_blank" href="https://www.businessinsider.com/how-to-get-idr-student-debt-relief-account-adjustment-biden-2023-7">income-driven repayment plan</a>, which promises debt relief after at least 20 years of qualifying payments. As of 2024, Smylie was able to get his balance down to $9,811 — but that was after paying about $46,000 because of interest.Given that Smylie had not yet completed his 20 years of payments, he didn't qualify for relief through his income-driven repayment plan. However, <a target="_blank" href="https://www.businessinsider.com/save-plan-student-loan-borrowers-new-debt-relief-save-income-driven-plan-2024-2">Biden's new SAVE income-driven repayment plan</a> offered a glimpse of hope — a provision within the plan allowed for student-loan forgiveness on loans with an original balance of $12,000 or less after as few as 10 years of payments.After SAVE was implemented in July 2023, Smylie enrolled in the plan and had four loans remaining to pay off — each of which was under $12,000. On February 21, the Education Department announced it would be implementing the new forgiveness provision ahead of schedule, announcing <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-debt-cancellation-save-income-driven-payment-plan-2024-2">$1.2 billion in relief for 153,000 borrowers</a>. To Smylie's surprise, he was one of them.As of August 9, the 8th Circuit Court of Appeals has <a target="_blank" class="" href="https://www.businessinsider.com/save-plan-blocked-cheaper-student-loan-payments-relief-new-ruling-2024-8">blocked SAVE</a>. Students with loans enrolled in the program have been placed into forbearance pending the results of continued legal battles over whether the lower payments and forgiveness measures in the payment plan can continue.While some experts have suggested a complete reversal of the SAVE plan could result in forgiveness being rolled back and loans being reinstated, the <a target="_blank" class="" href="https://apnews.com/article/student-loan-cancellation-debt-college-forgiveness-c3ec59d4c1d89e77bc1afc6c8ded1615">Associated Press</a> reported that reinstating loans on such a large scale would be unreasonably costly and politically fraught, making such an outcome unlikely. However, it will be up to the courts to determine what to do with previously forgiven loans if the SAVE plan is ended entirely.For Smylie, the forgiveness granted by SAVE has been a godsend."It was a total shock," Smylie told BI."I teach yoga, and so it was 20 minutes before I was supposed to start to teach a class and I see this email, and I'm like, 'Wait a minute, is this serious?' And I just couldn't process it," he said. "I remember having a hard time teaching. I was just in this fun little cloud of joy. But it's one of those moments you just never think would ever come true, and then it did."<div type="image" title="Paul Smylie" height="2069" width="2758" msid="112523208" hostid="261" sizebytes="330684"></div>This relief is allowing Smylie the freedom to "have real true financial goals" with his retirement — and it's even opening the door for him to consider furthering his education. The idea of returning to school or seeking higher education in the first place has brought diverging views across generations.As BI has previously reported, many <a target="_blank" href="https://www.businessinsider.com/gen-z-value-of-college-higher-education-student-debt-tuition-2023-12">Gen Zers have chosen to forego college</a> due to high student debt loads and the availability of jobs that don't require college degrees. But for some millennials, Gen Xers, and even boomers, <a target="_blank" href="https://www.businessinsider.com/gen-xer-why-going-back-school-50s-was-worth-it-2024-5">going back to school</a> is an opportunity to advance their careers, earn more money, and give themselves a chance at trying something new — an opportunity they might not have had when they were younger. For example, a <a target="_blank" href="https://www.gallup.com/analytics/644939/state-of-higher-education.aspx">report</a> from Gallup and the Lumina Foundation found that "adults' interest in pursuing some form of higher education is at the highest level" the organizations ever recorded.Smylie's student-loan forgiveness is giving him the financial freedom to consider doing just that."It's taken a weight off of me, but it also inspired me to go back to a master's program that I had my eye on for a bit," he said.BI spoke with five financial advisors who primarily work with millennials. Each indicated that student debt remains among the top financial concerns their clients report having."There's not a lot of wiggle room in some cases as they're paying off student loans, to prioritize other short-term things or really save aggressively outside that debt," Chloe Moore, a certified financial planner who founded Financial Staples, told BI. "So having those student loans paid off really makes a difference."The advisors said most of their clients who have student loans carry between $20,000 to $100,000 in student debt, with those who pursued master's degrees and other advanced education tending to hold more than $50,000. Regardless of the degree, the advisors said their clients with student loans tend to put off other major investments — like buying a house, saving for retirement, or starting a family — until their education debt feels more manageable, which they described as a subjective measure that varies by person."The hardest thing, I think, for millennials that have any range of debt is making those tough choices between saving, paying down debt, and investing because the loans can be pretty burdening on cash flow," said Keenan Casey, a certified financial planner for Facet Wealth. "It can mean that you're making some really, really tough choices with the other aspects of your life."CiCora Leigh, 34, is all too familiar with the tough choices her student debt presented her. Leigh's educational path was unconventional — after graduating from high school in 2008, she fully funded her community-college education in Mississippi through scholarships and federal grants. However, after the death of a family member, she took a break from her education and decided to enlist in the Army with the hope that it would pay for her to eventually earn her law degree. Things didn't work out as she intended, though, and she ended up taking out about $70,000 in student loans to complete her degree at the University of Mississippi in business administration.As a single mom, Leigh felt significantly weighed down by the debt. "It was really making things tight for me and my son," she said, adding that the debt was sinking her credit score.<div type="image" title="Cicora Leigh" height="867" width="694" msid="112523206" hostid="261" sizebytes="31614"></div>All of that changed when she received a <a target="_blank" href="https://www.businessinsider.com/what-disabilities-qualify-for-student-loan-forgiveness-from-department-education-2021-3">total and permanent disability determination</a> from Veterans Affairs. In a rule first established under President Barack Obama, any student-loan borrower who can prove they are totally and permanently disabled is eligible for student-loan forgiveness. This determination can be made by the VA or a physician and includes any physical or mental impairment that inhibits employment.The VA informed Leigh of her disability status in February 2023, and just five months later, the Education Department had wiped out her $72,000 student-loan balance."It was truly a relief," Leigh said. "I was able to use those funds to start putting toward my son's college fund, and then I was able to publish my second book. That was such a relief to receive the letter. I was so happy."<h2 id="c131ac21-94ee-48b1-b9f0-49d058417940">Saving for retirement</h2>The monthly student-loan payments of nearly $500 that Beverley, 38, has been making since 2014 took a heavy toll on her finances.Beverley — who requested her last name be withheld for privacy — told BI that when she first started her career in the nonprofit sector, she was paid a very low wage and struggled to afford her monthly student-loan payments from both her undergraduate and graduate degrees on top of her other basic expenses. This led her to go into forbearance for a year to allow her to afford her everyday needs."It was really hard," Beverley said. "Paying rent, paying for monthly bills and food and everything, that basically left $100 in my bank account for anything else. It was impossible to save money."Beverley now works in the government and has been in the public sector her whole career, making her eligible for PSLF. But since she didn't start making payments until 2014, she thought she wouldn't see any student-loan forgiveness until 2024 at the earliest, assuming everything went perfectly with her paperwork.<a target="_blank" href="https://www.businessinsider.com/public-service-loan-forgiveness-program-major-overhaul-student-debt-biden-2021-10">A limited-time</a> change implemented by the Education Department in October 2021 changed that. Using a waiver that expired in October 2022, the department allowed borrowers to count payments that were previously deemed ineligible for PSLF toward forgiveness progress, including some periods in which borrowers' loans were in deferment or forbearance. That was great news for Beverley — her loans were on forbearance for a year after she graduated while she was working at the nonprofit, meaning the waiver brought her to the payment threshold for forgiveness a year ahead of schedule.On December 13 of last year, she finally received confirmation that her nearly $54,000 student-loan balance was wiped out. "Congratulations!" the letter from her servicer, reviewed by BI, said. "You have successfully met the requirements of the Public Service Loan Forgiveness (PSLF) Program and all or a portion of your loans listed below have been forgiven. Thank you for your public service."This relief not only opened up hundreds more dollars each month to make payments toward her mortgage — it finally allowed her the freedom <a target="_blank" href="https://www.businessinsider.com/student-loans-retirement-savings-employers-match-debt-payment-contributions-401k-2024-1">to put money toward retirement</a> for the first time."The thing that I'm most excited about is saving for retirement," Beverley said. "I have a lot of money that I was putting towards loans that can now go towards my future. I feel like I'm starting really late for retirement stuff, but it's better than having to pay for however many more years if I didn't get the forgiveness."Grayson Hofferber, a financial advisor and president of Millennial Wealth Management, says the cash-flow burden created by student-loan debt means many of the clients he counsels have to play catch-up for years to get on track for retirement or set up an education fund for their own children."I would say the vast amount of folks will focus on maximizing their retirement savings, whether through their 401(k) or their IRA, after paying off their student debt," Hofferber said. "For the majority of our clients, they generally will take that same kind of repayment dollar amount that they're putting toward student loans, and they'll reinvest that for their future. So they'll put that into an investment account, whether that's to buy a home or to pursue an early retirement."Though some financial advisors noted that once borrowers unlock the money earmarked to pay down debt, they also often want to celebrate."Whether it be student loans, credit-card debt, auto-loan debt, any form of debt that someone's paid off that has felt like a burden for a prolonged period of time, there is the propensity to feel like they have been sacrificing and that they want and deserve to spend the money after that point," Casey said.The financial advisors who talked to BI said that while their clients tended to be financially savvy and prone to prioritizing long-term investments, the post-student-loan splurge is a common phenomenon they see among millennials. And the splurge can take many forms — whether music festival tickets, or buying a Tesla, or taking an international vacation.While retirement is still a ways away for Beverley, she said she's grateful for Biden's changes to PSLF — and the freedom it opened up for her to make larger investments down the road."The limited waiver opportunity basically saved me a year of payments that I would still be making now," Beverley said. "So, for me, it's like keeping a promise that was made a long time ago that if we work in public service, we can have this opportunity."

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