Three Republican-led states, South Carolina, Alaska, and Texas, have filed an emergency appeal with the Supreme Court to halt a Biden administration initiative aimed at reducing monthly payments for millions of student loan borrowers. The program in question, known as Saving on a Valuable Education (SAVE), was introduced last year to lower enrolled borrowers' monthly payments and expedite debt forgiveness.
The Biden administration launched the SAVE program following the Supreme Court's decision to strike down a broader student loan forgiveness program. The recent appeal by the states challenges the legality of the program and seeks to prevent its implementation.
