By A federal appeals court in the US has ordered the end of the Saving on a Valuable Education (SAVE) plan, a repayment programme introduced during the Biden administration that was used by millions of student loan borrowers.
The ruling comes after a Republican-led legal challenge and reverses an earlier dismissal by a lower court.
The judgment, issued late on Monday by the US Court of Appeals for the Eighth Circuit, overturns a previous decision by Judge John Ross of the US District Court for the Eastern District of Missouri. According to CNBC, the ruling marks the latest development in a series of legal battles that have created uncertainty for borrowers enrolled in the programme.
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