Overview

• The SAVE plan aims to reduce monthly payments and offer faster debt forgiveness for millions of borrowers.
• A federal appeals court recently allowed the plan to proceed, reversing lower court injunctions.
• The states' emergency appeal argues the plan violates previous Supreme Court rulings and bypasses Congressional approval.
• Around 8 million borrowers are enrolled in the SAVE plan, with about 3 million expected to see immediate payment reductions.
• The Supreme Court's decision on the emergency appeal could come within weeks, impacting the plan's future.