The administration of President Donald Trump plans to end a student loan forgiveness program first launched by former President Joe Biden.

The administration on Tuesday announced a legal settlement that will end the program, known as the Saving on a Valuable Education plan, or SAVE. The end of SAVE will affect millions of borrowers, according to USA Today .

The settlement comes in response to red states that sued to stop the program in 2024.

The deal must still be approved by the courts.

If it is, it will require that no new borrowers are enrolled in SAVE. The Education Department will also deny any pending SAVE applications and move current borrowers into different repayment plans, according to USA Today.

SAVE tied loan repayments to borrowers’ incomes and brought some monthly bill

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