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In Major Order, Appeals Court Blocks Student Loan Forgiveness And Lower Payments For 8 Million Borrowers
A federal appeals court on Thursday temporarily blocked a key Biden administration student loan forgiveness and repayment plan. The order could have significant ramifications for millions of borrowers.. Joe Biden’s Saving on a Valuable Education plan is a new income-driven repayment program designed to provide affordable payments and multiple pathways to loan forgiveness. The Education Department unveiled the SAVE plan last year, and began implementing the program in phases. But several groups of Republican-led states filed two separate legal challenges this spring, arguing that the Biden administration exceeded the authority Congress provided. Thursday’s appeals court ruling is just the latest...
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