Americans holding federal student loan debt will finally get some relief. President Joe Biden announced the details of a long-awaited forgiveness program, which will wipe $10,000 off of federal student loans for anyone making less than $125,000. That number jumps to $20,000 of relief for those with Pell Grants. There will also be a cap on payments, limiting them to 5% of a person's monthly income. Loan payments, which have been on hold since the early days of the pandemic, will resume in January.

Retail investors are eagerly awaiting the stock market opening this morning, as Tesla shares are set to trade for the first time following a three-for-one stock split. The split doesn't change much for existing investors, as one share simply becomes three at a third of the price, but the hope is that the less expensive price tag may draw in casual investors. Some analysts say this is the beginning of a comeback for Tesla, while others say this is just a "distraction" from the fact that the EV maker is light on major product releases and announcements for the rest of the year.

Russia bombed a train station in the central Ukraine town of Chaplyne on Wednesday, killing at about two dozen people, including children. While the war has been going on since February, this attack was of particular significance: It came exactly six months after the war began, which is also Ukraine's Independence Day, marking the day the country officially separated from the Soviet Union in 1991. Ukraine President Volodymyr Zelenskyy had warned citizens that Russia may do "something particularly cruel” this week.

Peloton bikes will soon be available on Amazon for the first time. The partnership was announced less than a month after Peloton revealed plans to cut its in-house distribution network, close retail showrooms, and lay off 800 employees in an effort to become more lean. While the change might be good news for Amazon shoppers, it's a blow to the direct-to-consumer business model that Peloton made its name with. CEO Kevin Cornils framed the move as a way to meet customers where they already are. 

The IRS is sending refunds worth $1.2 billion to 1.6 million Americans who filed their taxes late during the COVID-19 pandemic. The agency said refunds on the late fees are intended to "help struggling taxpayers" who may be trying to catch up with their tax liabilities. Notably, the IRS found itself in a sympathetic position, experiencing its own tardiness issues over the last two years due to staffing shortages and other challenges

First Lady Dr. Jill Biden has once again tested positive for COVID-19. Biden, who came up negative earlier this week, says she's feeling fine, and that the small number of people who she interacted with have been notified. This is the latest COVID update from a Biden family, which has been hit repeatedly by of the virus in recent months. Biden's experience tracks closely with her husband, the president, who had his own rebound case just a month ago.

Ghislaine Maxwell, former associate of the late Jeffrey Epstein, is being sued by her attorneys, who allege she owes them nearly $880,000 for legal services. Maxwell was recently sentenced to 20 years in prison for her role in helping Episten lure and then sexually abuse underage girls. According to the lawsuit, the attorneys have made multiple requests for payment over the years, which they say Maxwell ignored, even after getting $10 million from Epstein's estate.

Rapper and host Remy Ma popped by Cheddar News this week to give us all the details on season 2 of VH1's My True Crime Story. The docuseries recounts the details of people who got caught up in criminal situations. "I don't know if people think I'm like this crime guru; I'm really not. I'm just as shocked as some of you guys are when you're watching it for the first time," she said.

Capitol Music Group is under fire after the record label signed AI rapper FN Meka, which has been accused of racial appropriation and insensitivity toward the Black community. The bot, which was created by virtual record label Factory New co-founders Anthony Martini and Brandon Le, posted an image on Instagram that showed the rapper in jail being assaulted by a police officer. People on social media lit up Capitol's mentions until the label issued an apology and announced that the bot had been dropped.

A few entertainment headlines from the last 24 hours: In an effort to become more inclusive, the 2023 Independent Spirit Awards will switch its format to a gender-neutral ceremony. Elton John just couldn't wait until Friday to preview his newest song, Hold Me Closer, featuring Britney Spears, treating fans at a French restaurant to an early listen. And John Boyega says he's done with the Star Wars franchise, telling SiriusXM that racist backlash and Disney's lack of support contributed to his decision to leave the franchise.

Is Velveeta getting into the booze game? Would you even try a new cheese martini from Velveeta? The Cheddar News social media team hit the streets of New York City to see whether people think this a stinky idea.