The Education Department announced the settlement Tuesday in a lawsuit challenging former President Joe Biden’s Saving on a Valuable Education (SAVE) loan repayment plan. The plan has been at the center of an ongoing legal battle since last year.
The agreement would put an end to the SAVE plan, which means borrowers enrolled in the program will need to find a new, legal plan and start making payments again, according to the Education Department.
The agreement will have to be approved in court before it takes effect, the agency said. Last year, borrowers enrolled in the SAVE plan had their loans placed in forbearance, which means their payments have been on hold.
I know people who chose their whole career arc based on trust in the government to forgive their loan based on the legislation which granted public/non-profit workers forgiveness after 10-years. They were making low minimum payments over those years based on their low salaries…
Boy are those people fucked financially.
We can thank Republicans! Of course there will be no reckoning or return to that commitment. Truly fucked.