Total student loan debt in the United States is now nearly $1.8 trillion, and experts say young people are delaying buying homes and starting families because of it. So, what could the lives of students look like when they graduate debt-free? Correspondent lilia luciano talked with experts about the "sticker shock" of college tuition, and with alumni of Morehouse College's Class of 2019, whose college debt of approximately $34 million was wiped out by a gift from billionaire businessman Robert F. Smith.
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BREAKING: The Federal Reserve maintains its benchmark interest rate after inflation eased slightly in May. The central bank kept the federal funds rate in a range of 5.25% to 5.5%. It has remained at that level, the highest in 23 years, since July of 2023.
Federal Reserve now expects to cut interest rates just once in 2024 amid sticky inflation
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Soaring prices for homeowners insurance, property taxes and utility bills are adding thousands of dollars to the cost of owning a home. The increases come at a time of record-high real estate prices and elevated mortgages and closing fees. The average annual cost of insurance, taxes and utilities for a single-family home in the U.S. is currently about $18,118, according to an analysis from Bankrate. That's up from $14,428 in 2020. Those costs are rising for several reasons, including rising home values, rising costs from construction companies hired to build properties, and rising homeowners insurance rates as a result of climate-related natural disasters, Bankrate said. "These numbers show that the costs of owning a home are at the same level as buying a used car every year," Bankrate analyst Jeff Ostrowski said. "Homeownership is an important wealth-builder for many Americans, but it ain't cheap," he added.
Buying a home? Expect to pay $18,000 a year in additional costs
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When Derek Stefureac was diagnosed with multiple sclerosis, a chronic disease that affects the central nervous system, he was a smoker who never exercised. Everything changed when he had an "attack" at work when he was 39: His body seized for about a minute, and Stefureac told CBS News that he "thought he was dying." After seeing multiple doctors, he was diagnosed with multiple sclerosis. "As I learned more, a doctor said, 'It's a progressive disease, it's incurable. We have some therapies to slow down the progression, but the best thing you can do is get healthy. A healthy body is the best tool.' So that scared me enough to quit smoking, and as part of quitting smoking, to help me out and get healthy, I just started jogging," he said. Now, 13 years after his diagnosis and those initial jogging sessions, Stefureac has run 36 marathons — including one in Antarctica and one on Mount Everest. After completing Australia's Brisbane marathon earlier in June, he's now run a marathon on every continent.
After being diagnosed with MS, he started running marathons. It's helping reverse the disease's progression.
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Eighty years after Christian Lamb helped rescue France from Nazi tyranny, French President Emmanuel Macron kissed her on both cheeks and pinned the nation's highest honor to her lapel. Lamb spent the months before D-Day alone in a tiny room in central London drawing the detailed maps that guided landing craft to the beaches of Normandy as Allied forces began their invasion of occupied France on June 6, 1944. The work was so secret she didn't even tell her husband. Now 103 and seated in a wheelchair, Lamb took center stage when Macron awarded her the Legion of Honor during British ceremonies marking the 80th anniversary of D-Day.
Woman who made maps for D-Day landings receives France's highest honor
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Before 150,000 soldiers landed on the beaches of Normandy for the military operation that would later be known as D-Day, few people outside the military knew what was in the works. But one 22-year-old woman did. Jean Sims was a codebreaker, one of thousands of young women known as “Code Girls” who volunteered to enlist with the U.S. Navy and worked to encode messages sent throughout the military and decode messages intercepted from enemy forces.
Women codebreakers knew some of the biggest secrets of WWII — including plans for the D-Day invasion. But most took their stories to the grave.
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