The Week in Review

Stocks have been climbing in recent days thanks to strong corporate earnings reports. Concerns about supply chain difficulties, inflation, and a slowdown in China’s economic growth caused stocks to drop early in the fall, but this week they have rebounded.

Other big news on Wall Street was that WeWork (WE) finally made its public debut. After a failed IPO effort over two years ago, the co-working space company went public via a special purpose acquisition company. Its stock price saw significant gains on its first day as a public company. On the economic data front, jobless claims fell to a new pandemic low of 290,000 for the week ending October 16. This was down by 6,000 from the week prior and better than what economists were expecting.

Bitcoin (BTC) prices hit a new all-time high on Wednesday, topping $66,890. The world’s largest cryptocurrency got another boost after the famous trader Paul Tudor Jones said that Bitcoin is his preferred inflation hedge over gold.

For more economic news and how it affects your money, visit the SoFi app.

When Are the First Federal Student Loan Payments Due in 2022?

In August, the Biden administration announced a “final” extension of the pause in federal student loan repayment, interest, and collections through Jan. 31, 2022.

After the pause ends, your loan servicer will send you a billing statement or other notice, according to studentaid.gov. The notice will include your payment due date, upcoming interest, and the payment amount.

Your payment will be due no sooner than 21 days after your servicer sends the billing statement. The first payment most loan holders make will probably be in February 2022.

SoFi has a refinancing program that allows eligible federal student loan borrowers to lock in today’s rate while continuing to enjoy the payment freeze that will end after Jan. 31, 2022. Enrolled borrowers would have their loans disbursed on Dec. 20, 2021, and enjoy 0% interest until then; payments would begin in February.

Lock in your rates now and still take advantage of the pause on federal student loans.

This Week’s Top Stories

Consumer Product Companies' Sales Intact Despite Supply-Chain Mess
Large consumer products companies like Procter & Gamble (PG), Albertsons (ACI), and other big names have been weathering the global supply-chain meltdown better than other industries, relying on their large cash reserves, brand recognition, and worldwide operations to ensure that shelves remain stocked now and into the holidays. The companies have been able to maintain relatively normal operations despite delivery delays, rising costs, and labor and raw material shortages, enabling.
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Liz Looks at: Inflation Investing
What can we invest in that participates in inflation — joins it, so to speak — so that when your payments at the grocery store and gas pump are increasing, your investment account has a chance to grow with them? See what Liz has to say about investing in inflationary environments.
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Crypto Miners’ Green Efforts Fall Short
Bitcoin mining has a bad reputation when it comes to the industry’s environmental impact. Miners have been working to change that, but so far these efforts have yielded disappointing results. To become more environmentally friendly, cryptocurrency miners are powering their computers with green energy or are working with data centers powered by solar or wind. The declining prices for renewable energy and rising prices for Bitcoin (BTC) make using renewable energy a realistic option.
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Deep Dives from SoFi Learn

Three Ways to Help Pay Off Debt Faster
Whether you have credit card, student loan, medical, mortgage, or other debt, the repayment process can seem never-ending.

But there are ways to make the payoff process less painful—and go faster. The key to getting on the right path is to take a moment to assess your current debt and budget, and then pick a repayment plan that works with your financial situation.

Ready to start knocking down those debts? Read on for strategies that can help you get out of the debt faster.

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Benefits of ETFs: Pros & Cons in Investment Portfolio
Exchange traded funds can be a valuable tool for investing. What are the advantages of ETFs? Learn more here.
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Calculator: How Much Could Refinancing Save You?
You probably already feel like you’re paying too much on your student loans—but do you know exactly how much you’re overpaying? Use our Student Loan Calculator to see how much you could save by refinancing your student loans with SoFi.
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