Morning Business Report: Trump administration moves to end SAVE student loan plan
The Trump administration has taken its final step toward dismantling the Biden-era SAVE student loan repayment plan.
(LILAMAX)- The Trump administration has taken its final step toward dismantling the Biden-era SAVE student loan repayment plan. Under a proposed settlement, the program would be shut down entirely and millions of borrowers would be redirected into new repayment options that officials say are fully authorized under federal law.
The Department of Education argues the change will shift the cost burden “back to the borrower,” rather than to taxpayers—many of whom never took out student loans. The White House previously estimated the SAVE plan would have cost more than $342 billion over the next decade.
In corporate news, Eli Lilly announced it will invest $6 billion to build a new manufacturing plant in Huntsville, Alabama, as it ramps up production for its highly anticipated experimental obesity pill and other medications. This marks the drugmaker’s third major U.S. investment this year. In February, Eli Lilly said it would spend at least $27 billion on four domestic manufacturing plants, adding to $23 billion already invested since 2020.
On Wall Street, stocks wavered between slight gains and losses ahead of the year’s final Federal Reserve meeting. The Fed is widely expected to issue its third straight quarter-point interest rate cut this afternoon.
Cracker Barrel is facing new criticism from loyal customers who say the chain’s food quality has slipped in recent years. According to The Wall Street Journal, menu changes intended to streamline kitchen operations—such as making biscuits in chilled batches instead of fresh and preparing sides in ovens instead of traditional kettles—have not been well received.
Meanwhile, the rise of weight-loss drugs is reshaping business strategies across major U.S. companies. Target plans to expand shelf space in 2026 for high-protein nutrition bars and supplements to appeal to GLP-1 users. Conagra Brands has begun labeling products it considers “GLP-1 friendly,” and Danone North America recently launched Oikos Fusion yogurt, marketed specifically to meet the nutritional needs of people on weight-loss medications.
