The Department of Education has proposed a settlement with the state of Missouri to end the Saving on a Valuable Education (SAVE) Plan.

The SAVE Plan was enacted without approval from Congress in recent years to significantly reduce monthly federal student loan payments and shorten the timeline for borrowers to reach student loan forgiveness.

“The law is clear: if you take out a loan, you must pay it back,” Under Secretary of Education Nicholas Kent said. “Thanks to the State of Missouri and other states fighting against this egregious federal overreach, American taxpayers can now rest assured they will no longer be forced to serve as collateral for illegal and irresponsible student loan policies.”  

President Trump’s administration will offer new repayment options to support borrowers and provide guidance for student loan repayment in the coming weeks.

As the Lord Leads, Pray with Us…

• For Secretary McMahon and Under Secretary Kent as they oversee the replacement of the SAVE Plan with other federal student loan repayment options.
• For President Trump and members of his Cabinet as they pursue methods to reduce waste and fraud in the federal government.
• For the Lord to accomplish His will and purposes in the United States.