"Without congressional authorization, the Biden Administration misled millions of borrowers into the illegal SAVE Plan with false promises of artificially low monthly payments—oftentimes as low as $0—and a short timeline to student loan 'forgiveness.'"

The settlement would apply to an estimated more than 7.6 million borrowers enrolled in the Saving on a Valuable Education plan who are in forbearance.

The event is part of the 2020 endorsement process for its 1.7 million members. Houston, Texas -- As he continues his push for union support, former Vice President Joe Biden announced his education plan at a town hall in Houston hosted by the American ...

Biden's Education Department enacted the Saving on Valuable Education (SAVE) in the wake of a Supreme Court decision ruling that he could not unilaterally cancel student debt without an act of Congress. Republican-led states had challenged the backup plan, alleging it was illegal on its own.