Student Loan Repayment Plan Could End Sooner than Expected

Jefferson City, Mo. (KFMO) - A Biden-era student loan repayment plan could be ending sooner than expected.

The Trump administration reached a settlement with Missouri, which sued over the student loan repayment plan known as SAVE. Scott Buchanan, Executive Director of the Student Loan Servicing Alliance, says Congress had already passed legislation to end the plan. 

It was set to end in 2028. If approved, millions of borrowers will need to find another option to pay back their debt. The plan was launched by former President Biden in 2023.