The Supreme Court's temporary freeze on the Biden administration's new student loan repayment plan keeps monthly bills on hold for millions, creating ongoing financial uncertainty.
The SAVE program is designed to be more affordable by tying borrowers' monthly payments to their income and household size, with potential reductions of bills by half.
Legal challenges from Republican-led states have stalled the SAVE program, leaving eight million borrowers in limbo without clear guidance on how their loan payments will unfold.
While the pause on payments began in July due to an appeals court decision, the Supreme Court's ruling maintains the halt, preventing any immediate changes to borrowers' repayment plans.
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