A federal court has blocked President Biden's SAVE student-loan repayment plan, preventing millions from accessing lower payments and expedited debt relief timelines. The 8th Circuit Court of Appeals labeled the SAVE plan an overreach of authority and upheld a preliminary injunction. As a result, around 8 million borrowers are left in limbo, awaiting further developments. With the Education Department suggesting that payments will not resume until December at the earliest, borrowers remain uncertain about their repayment obligations while GOP lawmakers continue to criticize the plan as overstepping legal boundaries.
The 8th Circuit's ruling characterized the plan as "an overreach of authority," leaving millions of borrowers without access to lower payments.
Education Department guidance suggests borrowers enrolled in the SAVE plan will not need to make payments until at least December, causing significant uncertainty.
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