After years of legal limbo, millions of federal student loan borrowers on the Saving on a Valuable Education repayment plan will finally have closure, though it may not be the result they were hoping for.
On Tuesday, a district court judge officially killed the rule behind SAVE, an income-driven repayment plan created under the Biden’s administration that was known for its generous terms and low monthly payments.
Republican attorneys general first challenged the plan during former President Joe Biden’s tenure. When President Donald Trump took office, his administration stopped contesting the suit and agreed to a settlement. A court initially dismissed the lawsuit, saying there was no case if both parties agreed, but after an appeals court stepped in, the judge ultimately agreed to vacate the rule.
Read more at PBS.
