Summary
President Donald Trump's administration announced that the Department of Education has decided to end the SAVE Plan, a student loan forgiveness initiative started under President Joe Biden. This plan faced legal challenges and was blocked by courts. About 7 million people who were part of the program will be moved to different repayment plans.
Key Facts
- President Trump's administration will end the SAVE Plan for student loans.
- The SAVE Plan was started by President Joe Biden’s administration.
- Courts blocked the SAVE Plan repeatedly due to legal challenges.
- The SAVE Plan promised lower monthly payments and quick loan forgiveness.
- About 7 million borrowers were part of the SAVE Plan.
- Those borrowers will now have to switch to other repayment plans.
