The Trump administration is moving to dismantle the federal student loan repayment plan known as SAVE, the last remnant of the Biden-era effort to provide large-scale student debt relief.
The U.S. Department of Education announced on Dec. 9 that it had reached a proposed settlement with Missouri and six other Republican-led states that sued to block the SAVE plan. The plan still needs approval from the U.S. District Court of the Eastern District of Missouri’s Eastern Division.
The states argued that the Biden administration exceeded its authority when it created SAVE in 2023, a program that offered millions of borrowers lower monthly payments and an accelerated path to debt erasure….