Supreme Court Blocks Biden's SAVE Plan, Leaving Millions in Limbo
The court's decision halts student loan repayment relief as legal battles continue, affecting 8 million borrowers.
- The SAVE plan aimed to reduce monthly payments and accelerate loan forgiveness for low-income borrowers.
- A temporary block by the 8th Circuit Court has paused loan repayments and put borrowers in forbearance.
- The forbearance period will not count towards Public Service Loan Forgiveness or other income-driven repayment plans.
- Legal challenges from Republican-led states argue the SAVE plan exceeds Biden administration's authority.
- The outcome of the upcoming presidential election could determine the future of the SAVE plan.
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