The 10th Circuit Court of Appeals has allowed President Biden's student loan relief plan, the SAVE plan, to move forward.

The SAVE plan will lower monthly payments for borrowers and offer debt forgiveness after 10 years.

The plan has already enrolled 8 million borrowers.

It reduces the payment threshold to 5% of discretionary income for those on the income-driven repayment plan.

GOP state attorneys general are still challenging loan forgiveness in court.

The U.S. Education Department is working to provide guidance to impacted borrowers.

Education Secretary Miguel Cardona is committed to reforming the student loan system and making college more affordable.