On August 14, 2024, U.S. Secretary of Education Miguel Cardona issued a statement regarding the U.S. Department of Justice's recent action involving the Saving on a Valuable Education (SAVE) Plan.
"Yesterday, the U.S. Department of Justice filed an emergency application with the Supreme Court to vacate the Eighth Circuit Court of Appeals’ injunction of the Saving on a Valuable Education (SAVE) Plan," Cardona stated. He emphasized that allowing this injunction to stand would adversely affect borrowers who have been repaying their loans for up to 25 years by denying them forgiveness that has been legally available for three decades.
Cardona reaffirmed the administration's commitment to supporting borrowers and providing affordable repayment options for millions across the country. "We remain committed to supporting borrowers and fighting for the most affordable repayment options possible for millions of people across the country," he said.
The Secretary highlighted that $169 billion in relief has already been approved for nearly 4.8 million Americans under various programs benefiting teachers, veterans, public servants, students defrauded by their colleges, and borrowers with disabilities.
"President Biden, Vice President Harris, and I are committed to fighting for college affordability for all," Cardona concluded.
