Court Reversal Hits Biden’s Student Loan Plan, Millions Impacted
Student-loan borrowers enrolled in the SAVE plan will receive information regarding next steps following a new 8th Circuit ruling. This ruling directs a district court to approve a settlement aiming to eliminate the SAVE plan, a key affordable repayment program created by the Biden administration. Consequently, enrolled borrowers will be transitioned to different repayment plans, with a limited window to select a new one. Advocates have criticized this decision, predicting significant increases in borrowers’ annual bills.
John Q. Hosedrinker