Biden extends student loan payment pause for 8 million SAVE plan borrowers by 6 months.

• The US Department of Education announced that federal student loan payments for approximately 8 million borrowers will be paused for an extended period of six months or more.
• The administration is facing legal battles from Republicans over its student loan relief efforts, which were announced on Monday.

The US Department of Education announced that federal student loan payments for approximately 8 million borrowers will be paused for an extended period of six months or more.

The administration is facing legal battles from Republicans over its student loan relief efforts, which were announced on Monday.

Those enrolled in the Biden administration's new SAVE plan will be excused from their monthly payments and placed in an interest-free general forbearance, according to the Education Department spokesperson.

An injunction was issued by a federal court earlier this year, preventing the department from implementing certain aspects of the Saving on a Valuable Education plan. The SAVE plan was marketed as the most affordable repayment plan in history, and many individuals were anticipating a significant reduction in their monthly payments.

The attorneys general of Kansas and Missouri, who led legal challenges against SAVE, contend that the Biden administration is attempting to circumvent the Supreme Court's decision in June 2023 by finding a different way to forgive student debt.

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