Millions of Texans may be off the hook for some or all of their remaining student loan debt as part of the Biden administration's new plan to alleviate the burden of higher education on Americans.

The big picture: The long-awaited changes could completely cancel student loan debt for approximately 20 million Americans, Axios' Sophia Cai and Erin Doherty report.

Details: Texas' 3.6 million borrowers each owe an average of $33,000, per the national Education Data Initiative.

• Half of them are younger than 35.

Zoom in: In-state undergraduates at the University of Texas pay roughly $11,000 to $13,500 in tuition for a full academic year.

• By comparison, annual tuition at St. Edward's University is nearly $50,000, though incoming freshmen last year paid $33,500 on average after scholarships and aid.
• Census data shows 51.5% of Travis County residents have at least a bachelor's degree.

How it works: Pell Grant recipients can have up to $20,000 of debt canceled and non-Pell Grant recipients can have up to $10,000 of debt canceled if their individual income is less than $125,000 or family income is less than $250,000, the White House said.

• Repayments that were paused during the pandemic won't resume until January. The government is also creating a new income-driven repayment plan that it says will "substantially reduce" how much money low-income and middle-income borrowers put toward student loans each month.
• Borrowers who work for nonprofits, the military, or federal, state, tribal or local governments may be eligible to have all of their student loans forgiven through the Public Service Loan Forgiveness program if they apply by Oct. 31.

Flashback: Earlier this year, Axios Austin readers weighed in on how student loan debt has impacted them.

Dig deeper.

The state's chief financial officer has unveiled a first-ever list of 10 financial firms — many of them heavy hitters — that he says "boycott energy companies."

Why it matters: Determined to protect the oil and gas industry, state lawmakers last year demanded that firms that boycott energy companies be cut off from doing business with Texas.

• BlackRock, BNP Paribas, Credit Suisse and UBS are among the companies that made the list.

What they're saying: State comptroller Glenn Hegar accused financial institutions of "doublespeak … as they engage in anti-oil and gas rhetoric publicly yet present a much different story behind closed doors."

• The list will "create some clarity for Texans whose tax dollars may be working to directly undermine our state's economic health," Hegar said in a statement.

Details: State governmental entities that may be forced to divest from the financial firms include pension funds for state employees, teachers and emergency service workers.

The other side: "BlackRock does not boycott fossil fuels — investing over $100 billion in Texas energy companies on behalf of our clients proves that," company spokesperson Brian Beades told Axios.

• "Elected and appointed public officials have a duty to act in the best interests of the people they serve. Politicizing state pension funds, restricting access to investments and impacting the financial returns of retirees, is not consistent with that duty."

Dive deeper: This summer, Axios Austin revealed how standard provisions buried deep in Texas contracts help state officials exert political leverage on companies hungry to win — and keep — business with government entities.

How the politics around investments may be costing Texans

👷‍♀️ A seven-story office building, underwritten with money from Michael Dell's investment firm, is slated for the former site of a Schlotzsky's restaurant on South Lamar, just south of Lady Bird Lake. (Austin American-Statesman)

💩 Austin's Parks and Recreation Board is recommending the city create more dog parks, in the hopes of discouraging people from allowing their dogs to roam leash-free on other parklands. (Austin Monitor)

🚔 The Uvalde school board fired its police chief. (Texas Tribune)

🚨 Three Hays CISD students have died of suspected fentanyl overdoses in the last month. (KVUE)

Now that summer vacation's over, we need a vacation.

You can spend a peaceful weekend or day trip in Wimberley, a charming spot about 45 minutes outside Austin in the Texas Hill Country.

• Of note: Swimming at Blue Hole Regional Park is not allowed right now, so Axios' Sami Sparber put together this guide on other ways to spend your visit.

Where to eat

The Leaning Pear

Dig into Hill-Country inspired cuisine for lunch, from the Bavarian pork roast with buttermilk-rye spätzle to the roasted poblano pimento cheese sandwich.

• Hours: 11am-9pm Wednesday-Saturday, 11am-3pm Sunday.

What to do

Wimberley Glassworks

Watch free live glassblowing demos and tour art installations at this picturesque gallery and studio located between San Marcos and Wimberley.

• Hours: Demonstrations run 10:30am-3:30pm Thursday through Sunday. See the schedule.

Go deeper: Peruse our recommendations for getaways in Fredericksburg, Colorado Bend State Park and New Braunfels — three other beautiful spots within two hours of Austin.

Read the full guide for Wimberley

💼 Check out who's hiring now.

1. Senior Marketing Manager at Zilker Partners.
2. Head of People Partners at Miro.
3. Senior Product Manager at Volusion.

Want more opportunities? Check out our Job Board.

Hiring? Post a job.

UT's favorite dive bar Hole in the Wall got a face-lift, and you can't miss it.

Why it matters: Twitter was divided this week over a photo of the bar's new neon yellow facade.

The big picture: Change is scary, so Nicole reached out to Hole in the Wall to ask, "What gives?"

• Turns out, the building was painted back in March.

The bottom line: Drinks are still cheap, and the Bob Dylan mural is still there.