The future of the Biden administration’s Saving on a Valuable Education loan repayment plan is uncertain after two federal judges temporarily blocked parts of the program earlier this week. The rulings restrict the Biden administration's authority to forgive student debt under the program and halt the proposed lowering of borrowers' payments on the plan until the lawsuits are resolved.
Biden launched the Saving on a Valuable Education program, commonly known as Save, last fall as millions of Americans resumed student loan payments after a pandemic-triggered hiatus of more than three years. The new plan offered lower monthly payments and a faster path to loan cancellation. More than 8 million people are enrolled, with debts...
Responding to lawsuits filed by a pair of Republican attorneys general, federal judges in Missouri and Kansas ruled this week that Biden’s Saving on a Valuable Education program cannot be fully implemented, temporarily pausing major elements until the case is decided.