(972) 510-3395 | [email protected] (Washington, DC) – Thursday, a federal appeals court blocked the Save on a Valuable Education (SAVE) Plan in its entirety, preventing forgiveness and manageable student loan payments for millions of borrowers. This news comes shortly after lawsuits in Missouri and Kansas issued injunctions, challenging the SAVE plan, specifically aspects that lowered payments and issued immediate cancellation for borrowers. In the year following the Supreme Court striking down the Biden Administration’s initial student loan forgiveness plan, several backup plans and proposed rules to follow through on President Biden’s promise have fallen short. The SAVE plan, now met with several legal challenges and momentarily halted, provided historically low monthly payments and offered borrowers a way to escape suffocating financial constraints due to student loan debt. This order is temporary until further rulings are made in regards to Missouri’s injunction. Young Invincibles is committed to ensure borrowers have the most up to date information to navigate the confusion surrounding student debt. In response, Kristin McGuire, Executive Director of Young Invincibles said:
“Blocking the SAVE Plan and student loan debt forgiveness is a grave error. This ruling will continue to exacerbate the confusion and uncertainty felt by borrowers as they try to navigate repayment and decode competing narratives about their student loans. The role of the government is supposed to be to help its citizens, not cause intentional, undue harm. Millions of borrowers deserve relief from the burden of student debt. Legal challenges to forgiveness were to be expected, but it is disheartening to see our judicial system put politics over people time and time again. Continually halting student debt forgiveness is reckless and cruel for borrowers and jeopardizes the economy and the future of our higher education system. We must urgently pause payments while we find a solution to grant swift cancellation and relief for borrowers. Young Invincibles will not rest until young adults and borrowers alike see the reprieve they desperately deserve. No matter how many barriers we come across, the fight is not over.”
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Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please [email protected]
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Contact: Emma Bittner