A federal appeals court in St. Louis temporarily halted the Biden administration's new student loan relief plan, SAVE, on Thursday. The plan aimed to provide the most affordable student loan repayment terms ever, with lower monthly payments and faster debt erasure for some borrowers. Several states sued the administration, arguing it overstepped its authority in creating the plan. Over 8 million borrowers had already signed up for SAVE, and the department had forgiven over $5 billion for over 400,000 people before the legal issues.
