Biden administration halts student loan payments amid legal battle
The Biden administration has paused payments for eight million borrowers enrolled in the Saving on a Valuable Education (SAVE) plan.
This is in response to a court’s temporary block on the student debt relief program.
Secretary of Education Miguel Cardona criticized the court’s decision, which he says could have severe effects on borrowers already struggling with high payments.
The department has implemented interest-free forbearance for those affected and will continue to defend the SAVE plan in court.
This ruling follows the Supreme Court’s block on a broader debt cancellation program last year.
Despite setbacks, President Biden and Vice President Kamala Harris are pushing forward with relief efforts and educational reforms.
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