Supreme Court Upholds Block on Biden's SAVE Plan

The U.S. Supreme Court has upheld an injunction blocking President Biden's Saving on a Valuable Education (SAVE) student loan repayment plan, leaving over eight million borrowers in limbo. This decision follows lawsuits from seven Republican-led states, which argue the plan exceeds federal authority and could cost up to $475 billion. The court's refusal to lift the injunction means the plan, aimed at reducing monthly payments and streamlining loan forgiveness, remains stalled while litigation continues. Education Secretary Miguel Cardona condemned the ruling, stating it undermines decades of loan forgiveness practices. This legal battle is reminiscent of previous challenges to Biden’s earlier student debt relief efforts, which were also blocked by the Supreme Court. The ongoing litigation will determine the future of the SAVE plan, as borrowers await clarity on their repayment options.