Supreme Court keeps Biden's SAVE plan on ice. Here's what that means for people with student loans.
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When President Joe Biden unveiled his administration's new student debt repayment plan a year ago, he heralded it as "the most affordable student loan plan ever." Now, it also may qualify as one of the most stymied repayment plans ever created.
The Supreme Court on Wednesday declined to reinstate the program, called the Saving on a Valuable Education (SAVE) plan, as an appeals process over its legality plays out.
The SAVE plan was created to fix some long-standing problems with earlier income-driven repayment plans, or IDRs. It also debuted a month after the Supreme Court blocked Mr. Biden's plan to erase up to $20,000 in debt per student borrower. Because SAVE also promises to lower monthly loan payments — to as low as $0 for some low-income borrowers— it proved immediately popular and today has 8 million enrollees.
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Washington — The Senate on Friday again failed to move forward with legislation to fund the Department of Homeland Security, extending the shutdown that has snarled air travel around the country. Alan He and Caitlin Huey-Burns contributed to this report.
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The Justice Department on Friday moved to dismiss its criminal case against two former Louisville police officers who were facing civil rights charges in connection with the shooting death of Breonna Taylor.
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