The Trump administration announced Tuesday a proposed legal agreement that would end a Biden-era student loan repayment plan that offered lower monthly payments and faster debt relief.

The settlement, pending court approval, would resolve a lawsuit from seven states challenging the legality of the Saving on a Valuable Education (SAVE) Plan and force more than seven million borrowers around the country to choose a new repayment plan.

Under the proposed agreement, the U.S. Department of Education would not enroll new borrowers in the SAVE Plan, deny pending applications and move existing SAVE borrowers into other repayment plans, sooner than the July 2028 end date for the program set by Congress in the One Big Beautiful Bill passed over the summer.

"The law is clear: if you take out

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