Search here...
Investments

8th Circuit Court Blocks Biden’s SAVE Plan Completely

By: globalinvestmentstrategy.com

Date:

Share post:


The 8th Circuit Court of Appeals has issued an emergency administrative stay, effectively blocking President Biden’s Saving On A Valuable Education (SAVE) Plan. 

This decision, dated July 18, 2024, prohibits the administration from implementing or acting on the plan until a ruling is made on an injunction pending appeal. 

The move is anticipated to force the Biden Administration to pause all student loan activities under the SAVE Plan, extending the current administrative forbearance while the issues surrounding the plan are sorted out.

Legal Implications And Impact

The emergency stay was granted in response to a motion filed by the State of Missouri and other states. The states argued that the SAVE Plan, a key initiative of the Biden Administration aimed at easing student loan burdens, is unconstitutional and required immediate judicial intervention to halt its progress.

The court’s order, unsigned, underscores the contentious nature of the plan and the legal battles it faces.

The immediate impact of the court’s decision is profound. The administrative stay halts the execution of the SAVE Plan, which was designed to provide significant relief to student loan borrowers. The SAVE plan’s loan forgiveness initiative was halted by the 10th Circuit Court of Appeals, but until this order, the lower repayment plan was allowed to go into effect.

The Biden Administration must now pause all related activities, including lowering the repayment plan amounts, creating uncertainty for millions of borrowers who were counting on the plan’s benefits.

This pause will remain in effect until the 8th Circuit rules on the broader injunction pending appeal, a process that could take weeks or months.

The result is that the current administrative forbearance (which was in place for the month of July 2024) will likely be extended until these issues are resolved.

Final Thoughts

The blocking of the SAVE Plan by the 8th Circuit Court (along with the other stay in the 10th Circuit Court) highlights the challenging legal issues the Biden administration is facing by unilaterally offering loan forgiveness and modifying repayment plans. 

While the SAVE plan may still prevail in court, the path forward will be challenging. 

The emergency stay not only halts the plan’s implementation but also sets the stage for an extended legal battle that will end up at the Supreme Court. In the meantime, student loan borrowers will be stuck in limbo.

Don’t Miss These Other Stories:

https://www.highcpmgate.com/f0c2i8ki?key=d7778888e3d5721fde608bfdb62fd997
Previous article
How to Manage Your Money (10 simple steps to gain control of your finances)
Next article
Ethereum ETF Race Heats Up As All 8 Issuers Unveil Management Fees – Investorempires.com
globalinvestmentstrategy.com
globalinvestmentstrategy.comhttps://globalinvestmentstrategy.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Credit Card

Save 10% at Home Improvement Stores with New Chase Offer (YMMV)

Chase Offer for Home Improvement Stores Chase is targeting some cardholders with a new offer that can save...
Business

Hon Hai expands with new energy sector investments By Investing.com

TAIPEI - Hon Hai (TW:) Precision Industry Co., Ltd., also known as Foxconn ...
Investments

Redfin’s 2025 Housing Market Predictions

<div id="page" x-data="sidebarAds(24%7C&utm_source=Bigger%20Pockets&utm_term=Bigger%20Pockets","linkTitle":"Schedule a Call Today","id":"65d4be7b89ca4","impressionCount":"599801","dailyImpressionCount":"759","impressionLimit":"878328","dailyImpressionLimit":"2780","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-320x50-1.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"Center Street Lending","description":"","imageURL":null,"imageAlt":null,"title":"","body":"","linkURL":"https://centerstreetlending.com/bp/","linkTitle":"","id":"664ce210d4154","impressionCount":"328790","dailyImpressionCount":"698","impressionLimit":"600000","dailyImpressionLimit":"2655","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_300x250-2.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_300x600-2.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"CV3 Financial","description":"","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/07/Logo-512x512-1.png","imageAlt":"","title":"","body":"","linkURL":"https://cv3financial.com/financing-biggerpockets/?utm_source=biggerpockets&utm_medium=website&utm_campaign=august&utm_term=bridge&utm_content=banner","linkTitle":"","id":"66a7f395244ed","impressionCount":"144057","dailyImpressionCount":"567","impressionLimit":"636364","dailyImpressionLimit":"4187","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/07/CV3-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/07/CV3-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/07/CV3-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/07/CV3-320x50-1.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"Baselane","description":"Ad copy A","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/09/SquareLogo-MidnightOnWhite-1.png","imageAlt":"","title":"","body":"","linkURL":"https://www.baselane.com/lp/bigger-pockets?utm_source=partner_biggerpockets&utm_medium=Content&utm_campaign=bp_blog_ad&utm_term=rebranded_v3","linkTitle":"","id":"66b39df6e6623","impressionCount":"125325","dailyImpressionCount":"516","impressionLimit":"250000","dailyImpressionLimit":"1713","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/720x90.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/300x250.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/300x600.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/grow_business_not_to_do_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"Baselane","description":"Ad copy B","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/09/SquareLogo-MidnightOnWhite-1.png","imageAlt":"","title":"","body":"","linkURL":"https://www.baselane.com/lp/bigger-pockets?utm_source=partner_biggerpockets&utm_medium=Content&utm_campaign=bp_blog_ad&utm_term=rebranded_v4","linkTitle":"","id":"66b39df70adac","impressionCount":"136168","dailyImpressionCount":"492","impressionLimit":"250000","dailyImpressionLimit":"1713","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/Copy-of-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/Copy-of-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/Copy-of-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/11/Copy-of-320x50-1.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"","description":"","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-Logo.png","imageAlt":"","title":"","body":"","linkURL":"https://hubs.ly/Q02LzKH60","linkTitle":"","id":"66c3686d52445","impressionCount":"148578","dailyImpressionCount":"546","impressionLimit":"500000","dailyImpressionLimit":"6173","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-320x50-1.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"1-800 Accountant","description":"","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/Logo_Square_No-Brand-Name.png","imageAlt":"","title":"","body":"","linkURL":"https://1800accountant.com/lp/biggerpockets?utm_source=biggerpockets&utm_medium=cpc&utm_campaign=tof&utm_content=banner_V1","linkTitle":"","id":"67572ea6e4db7","impressionCount":"8567","dailyImpressionCount":"575","impressionLimit":"66667","dailyImpressionLimit":"3031","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V1-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V1-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V1-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V1_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"1-800 Accountant","description":"","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/Logo_Square_No-Brand-Name.png","imageAlt":"","title":"","body":"","linkURL":"https://1800accountant.com/lp/biggerpockets?utm_source=biggerpockets&utm_medium=cpc&utm_campaign=tof&utm_content=banner_V2","linkTitle":"","id":"67572ea706256","impressionCount":"8631","dailyImpressionCount":"551","impressionLimit":"66667","dailyImpressionLimit":"3031","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V2_720x90.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/v2_320x250.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V2-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V2_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"1-800 Accountant","description":"","imageURL":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/Logo_Square_No-Brand-Name.png","imageAlt":"","title":"","body":"","linkURL":"https://1800accountant.com/lp/biggerpockets?utm_source=biggerpockets&utm_medium=cpc&utm_campaign=tof&utm_content=banner_V3","linkTitle":"","id":"67572ea71c568","impressionCount":"9598","dailyImpressionCount":"660","impressionLimit":"66667","dailyImpressionLimit":"3031","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V3_720x90.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V3_300x250.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V3-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/12/V3_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""}])"> ...
Mortgage

Happy Holidays from Mortgage Professional America

About Us

Get the Latest Insights based on: business, finance, mortgage, credit cards, Investments and better Ways to Make Money Online

Categories

Latest news

Save 10% at Home Improvement Stores with New Chase Offer (YMMV)

Credit Card 0
Chase Offer for Home Improvement Stores Chase is targeting...

Hon Hai expands with new energy sector investments By Investing.com

Business 0
TAIPEI - Hon Hai (TW:) Precision...

Redfin’s 2025 Housing Market Predictions

Investments 0
<div id="page" x-data="sidebarAds(24%7C&utm_source=Bigger%20Pockets&utm_term=Bigger%20Pockets","linkTitle":"Schedule a Call Today","id":"65d4be7b89ca4","impressionCount":"599801","dailyImpressionCount":"759","impressionLimit":"878328","dailyImpressionLimit":"2780","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-320x50-1.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"Center Street Lending","description":"","imageURL":null,"imageAlt":null,"title":"","body":"","linkURL":"https://centerstreetlending.com/bp/","linkTitle":"","id":"664ce210d4154","impressionCount":"328790","dailyImpressionCount":"698","impressionLimit":"600000","dailyImpressionLimit":"2655","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_300x250-2.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_300x600-2.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"CV3...

Popular news

Save 10% at Home Improvement Stores with New Chase Offer (YMMV)

Credit Card 0
Chase Offer for Home Improvement Stores Chase is targeting...

Hon Hai expands with new energy sector investments By Investing.com

Business 0
TAIPEI - Hon Hai (TW:) Precision...

Redfin’s 2025 Housing Market Predictions

Investments 0
<div id="page" x-data="sidebarAds(24%7C&utm_source=Bigger%20Pockets&utm_term=Bigger%20Pockets","linkTitle":"Schedule a Call Today","id":"65d4be7b89ca4","impressionCount":"599801","dailyImpressionCount":"759","impressionLimit":"878328","dailyImpressionLimit":"2780","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x250-1.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-300x600-1.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/08/REI-Nation-X-BP-Blog-Ad-320x50-1.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"Center Street Lending","description":"","imageURL":null,"imageAlt":null,"title":"","body":"","linkURL":"https://centerstreetlending.com/bp/","linkTitle":"","id":"664ce210d4154","impressionCount":"328790","dailyImpressionCount":"698","impressionLimit":"600000","dailyImpressionLimit":"2655","r720x90":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_720x90-1.png","r300x250":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_300x250-2.png","r300x600":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_300x600-2.png","r320x50":"https://www.biggerpockets.com/blog/wp-content/uploads/2024/05/CSL_Blog-Ad_320x50.png","r720x90Alt":"","r300x250Alt":"","r300x600Alt":"","r320x50Alt":""},{"sponsor":"CV3...

© 2024. All Rights Reserved.