Supreme Court Blocks Biden's $500 Billion SAVE Student Debt Plan

Aug 28, 2024, 07:02 PM

The U.S. Supreme Court has declined to reinstate President Joe Biden's latest student debt relief plan, leaving it on hold as legal challenges proceed. This decision maintains a block imposed by the Eighth Circuit Court, which had paused the plan nationwide. The plan, part of the SAVE plan, aimed to reduce student-loan bills for millions of borrowers and expedite loan forgiveness, with an estimated cost of over $500 billion. The court's decision is seen as a victory for Republican-led states that have sued to block the initiative. The Supreme Court's ruling comes without any public dissents, and the case is expected to be decided by the Eighth Circuit soon.