Two courts just blocked parts of Biden's SAVE student loan repayment plan. Here's what to know.
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Two courts on Monday issued temporary injunctions against the Biden administration's flagship student loan repayment plan, decisions that experts say are likely to create new hurdles and uncertainties for millions of borrowers.
The rulings take aim at the Saving on a Valuable Education, or SAVE, plan, which was created a year ago by the Biden administration to address long-standing issues with the Department of Education's previous income-driven repayment plans, or IDRs. SAVE has proved to be popular with borrowers and now has more than 8 million enrollees.
But the SAVE plan was challenged by several Republican-led states that argued the plan overstepped the Biden administration's authority. They also claimed it could lead to financial harm due to lost revenue because it offers loan forgiveness in fewer years than earlier plans. On Monday, judges in Kansas and Missouri ruled partially in favor of those arguments, halting some aspects of the SAVE plan and throwing its workings into doubt.
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