"In the coming weeks, the Department will issue clear guidance on next steps for borrowers enrolled in the illegal SAVE Plan, including details regarding how borrowers can move into a legal repayment plan. The Trump Administration will continue to realign the federal student loan portfolio to better serve students and taxpayers."
"The settlement would give borrowers a limited time to select a new repayment plan and begin repaying the loans. Once the settlement is approved, the department will not enroll any new borrowers in SAVE, it will deny pending applications, and move all enrolled borrowers to existing plans."
The 8th Circuit Court of Appeals directed a district court to approve President Trump's proposed settlement with Missouri to end the SAVE student-loan repayment plan. This reverses a recent district court decision that declined to rule on the settlement. Once approved, the Department of Education will transition all enrolled borrowers to different repayment plans and cease accepting new SAVE applications. The department will provide guidance on next steps in coming weeks. Advocates oppose the ruling, arguing it will force borrowers into unaffordable monthly payments after they had access to lower-cost repayment options under SAVE.
Read at Business Insider
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