A federal plan first put in place by former president Joe Biden to lower monthly student debt payments to as low as zero and forgive some borrowers’ balances likely exceeds the Education Department’s authority and should stay blocked, a federal appeals court said Tuesday.
The district court properly paused the “SAVE” plan in June 2024 because Missouri and other states are likely to prevail in their suit against the program, Judge L. Steven Grasz, of the US Court of Appeals for the Eighth Circuit, said.
The ruling casts uncertainty over the loan repayment plan. President Donald Trump has criticized the ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.