Education Secretary Miguel Cardona emphasized that the SAVE plan still lowers monthly payments for millions of borrowers, and millions will continue to have a $0 monthly payment. | Mark Schiefelbein/APThe White House on Tuesday said the Biden administration will appeal two court orders that blocked key parts of its student loan repayment plan known as SAVE.
” We will never stop fighting to lower monthly payments and help borrowers get out from under the burden of student debt — no matter how many times Republican elected officials try to stop us.”said the Biden administration would “vigorously defend” its SAVE plan after being dealt two major legal blows Monday.
More than 8 million loan borrowers are enrolled in SAVE, which the Biden administration launched last year. The Education Department has already canceled $5.5 billion of debt for 414,000 borrowers enrolled in the plan, with more scheduled.