The 8th Circuit Just Killed Biden's SAVE Plan for Good - Finally

Courts Just Killed Biden’s Student Loan Scheme and Saved Taxpayers Half a Trillion Dollars

Joe Biden spent four years trying to make you pay off someone else's college debt.

Now a federal appeals court has buried his biggest attempt – permanently.

Here's what Biden promised 7 million borrowers that he had no legal right to promise. Biden Built This Student Loan Forgiveness Scheme the Day After the Supreme Court Said No.

Biden's SAVE plan wasn't a new idea. It was a workaround. In June 2023, the Supreme Court ruled 6-3 that Biden couldn't cancel $430 billion in student debt. The ruling was clear: only Congress has that power. Biden announced the SAVE plan ten days later.

Instead of canceling debt in one shot, SAVE slashed monthly payments to as low as $0, covered all unpaid interest so balances never grew, and put borrowers on track for full forgiveness in as little as ten years.

The Penn Wharton Budget Model put the price tag at $475 billion. That's $475 billion shifted from borrowers who voluntarily took out loans – many of them graduate students with high earning potential – onto the backs of 87 percent of American adults who have no student loan debt at all.

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