Supreme Court Denies Biden's Student Loan Relief Plan

The Supreme Court has denied President Biden's request to reinstate the $475 billion 'Saving on a Valuable Education' (SAVE) student loan relief plan, following a previous block by the Eighth Circuit Court of Appeals. This decision comes as the court awaits a comprehensive ruling from the appeals court on the multiple legal challenges against the plan, which aims to reduce monthly payments and accelerate loan forgiveness for millions of borrowers. The plan, which was finalized in July 2023, was initially proposed to offer significant financial relief, but has faced opposition from conservative states arguing it violates the major questions doctrine. The Supreme Court had earlier dismissed a similar initiative that sought to eliminate over $400 billion in student debt, leading to heightened scrutiny of the administration's authority in managing student loan programs. The administration continues to face legal hurdles while some provisions allowing lower payments remain intact. As the legal battles unfold, the future of the SAVE plan and its intended benefits for borrowers remains uncertain.