Key Points ・The Eighth Circuit Court of Appeals ruled that the Biden administration exceeded its authority in implementing the SAVE student loan repayment plan. ・The decision halts loan forgiveness provisions under the plan,

Former President Joe Biden's new student loan repayment and forgiveness plan, SAVE, was blocked Tuesday by a U.S. appeals court.

Millions of borrowers pursuing student loan forgiveness could be impacted by the fallout from the recent decision. Here are the key takeaways.