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Story summary
- The U.S. Court of Appeals for the 8th Circuit terminated the Saving on a Valuable Education (SAVE) plan.
- The court reversed a lower court's dismissal of a Republican-led challenge against the program.
- Over 7 million borrowers were enrolled in SAVE.
- Borrowers should switch to the Income-Based Repayment (IBR) plan.
- A lawsuit has been filed against the Department of Education, claiming the agency's refusal to implement SAVE violates federal law.
