Biden's SAVE Plan Faces Supreme Court Scrutiny Amid Legal Battles
Two lawsuits challenge the Biden administration's student loan forgiveness strategy, potentially impacting millions of borrowers.
- The SAVE plan aims to reduce payments and accelerate loan forgiveness for federal borrowers.
- Republican-led states argue the plan exceeds the Biden administration's authority under the Higher Education Act.
- Recent court rulings have paused parts of the SAVE plan, leading to borrower confusion and administrative challenges.
- The Supreme Court's decision could affect the broader landscape of income-driven repayment programs.
- More than 8 million borrowers are currently enrolled in the SAVE plan, with their loan payments now in forbearance.