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Acting Homeland Security Secretary Chad Wolf and President Trump on Aug. 27. Photo: Brendan Smialowski/AFP via Getty Images

The Trump administration plans to purchase 150 million rapid coronavirus tests from Abbott Laboratories, the White House announced Thursday.

Why it matters: Abbott said Wednesday it plans to make 50 million of the $5 coronavirus tests by the start of October. COVID-19 testing, which is essential to tracking the spread of the virus, declined across the U.S. this month.

Go deeper

DeVos extends federal student loan relief to Jan. 31

U.S. Secretary of Education Betsy DeVos. Photo: Nicholas Kamm/AFP via Getty Images

The Trump administration is extending federal student loan relief, which includes a pause on payments and interest accrual, through Jan. 31, the Department of Education announced Friday.

Why it matters: Payments have been paused since March due to the coronavirus pandemic, but the relief was set to expire on Dec. 31 . The relief measures, which also include the suspension of collections of defaulted federal student loans, have helped mitigate some of the pandemic's negative consequences for millions of borrowers.

Dec 4, 2020 - World

UN: "2021 is literally going to be catastrophic"

David Beasley, executive director of the World Food Programme. Photo: Souleymane Ag Anara/AFP via Getty Images

Next year is "going to be catastrophic" in terms of worldwide humanitarian crises, World Food Program executive director David Beasley warned on Friday, per Reuters.

Driving the news: The stark outlook comes as many countries contend with not only the coronavirus pandemic, but also possible famine, economic instability, conflict and other humanitarian crises. A record 235 million people will need humanitarian assistance and protection next year, a nearly 40% increase from 2020, the UN projected earlier this week