A federal appeals court on Thursday temporarily blocked the Biden administration’s student loan forgiveness plan, which seeks to lower payments for more than 8 million borrowers.
President Joe Biden‘s Saving on a Valuable Education Plan is the latest income-driven repayment program that intends to offer affordable payment plans and pathways to student loan forgiveness at taxpayers’ expense. The Department of Education debuted the SAVE Plan last year in response to the Supreme Court’s decision to strike down a previous plan to forgive up to $20,000 of debt for millions of borrowers.
-WiscoDave
