The Trump administration took the final step toward killing the Biden administration's SAVE student loan plan, announcing a proposed settlement that would shutter the program and force millions into new, legally authorized repayment options.
"For four years, the Biden administration sought to unlawfully shift student loan debt onto American taxpayers, many of whom either never took out a loan to finance their postsecondary education or never even went to college themselves, simply for a political win to prop up a failing administration," U.S. Department of Education Under Secretary Nicholas Kent said in a press release.
On Tuesday, the DOE and the State of Missouri reached an agreement to end former President Joe Biden’s Saving on a Valuable Education plan. This means no further enrollments for any new borrowers, the denial of pending applications and moving all SAVE borrowers into legal repayment plans. If the settlement is approved by a court, it will mark the "definitive end" of Biden’s student-loan repayment program.
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