President Biden has encountered challenges in securing judicial approval for his student loan forgiveness plan. Recently, state attorneys general, led by Missouri’s Andrew Bailey, urged the 8th Circuit Court to halt the remainder of the SAVE plan. The court agreed, imposing an administrative stay and effectively stopping the plan.

Bailey celebrated the decision, describing it as a major win for Americans who value personal financial responsibility. Meanwhile, student loan borrowers have been urging the Biden administration to cancel student loan debt, with many slow to resume repayments after the COVID pause.

A spokesperson for the Education Department mentioned they are evaluating the ruling’s impact and will inform borrowers of any changes. The Biden administration remains dedicated to defending the SAVE Plan, which has been helping over 8 million borrowers reduce their monthly payments. They also continue to challenge efforts by Republican officials to raise student loan costs.