The Supreme Court won't reinstate the Biden administration's Saving on a Valuable Education plan, according to an unsigned court order issued Wednesday. The court's refusal to lift the hold leaves the repayment plan's future unclear. If you're one of the more than 8 million borrowers enrolled in SAVE, your payments will remain on hold for now.
Earlier this month, the Department of Education filed an emergency request asking the Supreme Court to reinstate SAVE, citing the injunction has caused "widespread confusion and uncertainty."
Student loan expert Mark Kantrowitz told CNET at the time that he didn't expect the Supreme Court to consider the case ahead of a final appeals court ruling.
SAVE has been on hold for months while two separate appeals courts have issued contradictory rulings. The 10th US Circuit of Appeals issued a temporary ruling in June, allowing some parts of SAVE to proceed. Earlier this month, the 8th US Circuit Court of Appeals permanently blocked all components of SAVE that weren't already on hold.Â
Until the legal challenges are resolved, payments have been suspended for millions of borrowers. The fate of SAVE depends on the final resolution of the appeals process, which experts say could take several months to a year.
This is an emerging news story. We'll keep you updated as it unfolds.
