"It's time that every hardworking America is freed from the shackles of student debt," one advocate said.
"This resolution would put our record economic recovery at risk by reducing the consumer spending of millions of borrowers returning to repayment after a more than three-year pause, and it would be particularly harmful for low- and middle-income borrowers, community college students, and borrowers who work in public service," the Office of Management and Budget said.
The Biden administration launched the SAVE program to pursue "an alternative path to deliver debt relief to as many student loan borrowers as possible, as quickly as possible in the wake of the Supreme Court's decision on the administration's student debt relief plan."
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