President Joe Biden.Megan Varner/Getty ImagesTwo federal judges in Kansas and Missouri blocked student-loan forgiveness and cheaper payments through the SAVE plan.A range of SAVE provisions set to go into effect July 1 are now halted.Borrowers can still remain on the SAVE plan as the legal process continues. President Joe Biden's new student-loan repayment plan just got dealt two blows by federal courts.On Monday, judges in Kansas and Missouri district courts handed down their rulings on two separate lawsuits filed by GOP state attorneys general seeking to block the SAVE income-driven repayment plan, introduced last summer to lower borrowers' monthly payments.Earlier this year, the Education Department started implementing a SAVE provision ahead of schedule that canceled student debt for borrowers with original balances of $12,000 or less who made as few as 10 years of qualifying payments.
2 Federal Courts Just Blocked Student-loan Forgiveness And Cheaper Monthly Payments Under Biden's New Repayment Plan
asheffey@businessinsider.com (Ayelet Sheffey), Business Insider
Mon, 06/24/2024 - 4:19pm
Topics: megan varner/getty imagestwo president joe missouri attorney general andrew bailey final rule the department june 30.both mike pierce student borrower protection center judge daniel crabtree gop kansas attorney general kris kobach president joe biden kansas missouri save july education department education business insider june federal courts monthly payments repayment plan blocked student-loan forgiveness and cheaper borrowers relief rulings ruling attorneys original provisions ruled effect debt legal continues victory cancellation set preliminary lawsuits process separate benefit carry congress today judges due interest year
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