FOR IMMEDIATE RELEASE
August 28, 2024
Contact: Emma Bittner
(972) 510-3395 | Emma.Bittner@younginvincibles.org

SCOTUS Blocks SAVE Program, Leaving Borrowers Confused and In Limbo

(Washington, DC) –  Today, the Supreme Court of the United States (SCOTUS) blocked the Biden-Harris Administration’s Saving on a Valuable Education (SAVE) plan, leaving borrowers in forbearance as they await a ruling from the 8th Circuit.

This decision follows injunctions placed by Kansas and Missouri in late June, which blocked portions of the SAVE plan. This ruling by SCOTUS comes just a year after their decision to overturn the Biden-Harris Administration’s initial student debt cancellation plan. The SAVE plan, part of the Administration’s “Plan B” for forgiveness, offered borrowers historically low monthly payments and a pathway to loan forgiveness.

Young Invincibles remains steadfast in our commitment to keeping young adult borrowers informed about their options for debt cancellation and advocating for broad student debt relief.

In response, Kristin McGuire, Executive Director of Young Invincibles said: 

“The decision to block the SAVE program is a grave and unjust mistake. Keeping the SAVE program on hold will only continue to exacerbate the confusion and uncertainty felt by borrowers as they try to navigate repayment and decode competing narratives about their student loans. Rather than providing guidance or a pathway to repayment, borrowers are left in limbo, again.

It is outraging that politics continue to be put above the well-being of borrowers and their financial livelihood. The SAVE plan is a legal and just form of student debt cancellation and these politically charged battles should not prevent borrowers from the deeply needed reprieve they need. As we wait for the ruling from the 8th circuit it is imperative this time count towards Public Service Loan Forgiveness (PSLF) and other Income Driven Repayment programs. Millions of borrowers deserve relief from the burden of student debt, we must urgently find a solution to grant swift cancellation and relief for borrowers.”

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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 contact Emma Bittner at (972) 510-3395 or emma.bittner@younginvincibles.org