By Danielle Douglas-Gabriel, The Washington PostPresident Joe Biden delivers remarks on student loan debt at Madison College, Monday, April 8, 2024, in Madison, Wis.
A three-judge panel of the U.S. Court of Appeals for the 10th Circuit decided Sunday to stay an injunction imposed to block Biden from launching the final component of the Saving on a Valuable Education program, commonly known as Save. The injunction, handed down last week by U.S. District Judge Daniel D. Crabtree of Kansas, blocked the Education Department from cutting most enrollees’ monthly payments in half starting in July.
With the ban temporarily lifted, the department said Monday that borrowers with undergraduate debt will see their payments cut from 10% The appeals court ruled days after the Biden administration suspended payments and interest charges for 3 million people enrolled in Save in response to the injunction. Those borrowers will remain in forbearance this month and will be expected to pay their first lowered payment in August, according to the Education Department.
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