The health of the U.S. economy is a major focus for markets, and Wall Street closed lower Tuesday after data showed services sector activity unexpectedly flatlined in July.
PSLF, which President George W. Bush signed into law in 2007, allows many not-for-profit and government employees to have their federal student loans canceled after a decade of payments.
The announcement in the Oval Office, set for 4:30 p.m. ET, includes Apple’s commitment to a new “American Manufacturing Program,” a White House official confirmed to CNBC.
While such loans can help you make large purchases without paying interest or undergoing hard inquiries in your credit report, they can also easily be overused.
The U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, and the trade gap with China shrank to its lowest in more than 21 years.