The legal challenges to the Saving for a Valuable Education (SAVE) plan have put millions of federal student loan borrowers in limbo for months. Some are now moving from SAVE to other repayment plans to continue progressing toward loan forgiveness.

The bill would basically turn back the clock on the Biden administration’s efforts to make college loans more affordable for a broader range of people.

Efforts to reform the federal student loan program are also included within the bill's 1,000-plus pages. The section addressing the nation's student debt would create a new income-based repayment plan, change eligibility rules for Pell Grants, aim to hold schools accountable for students' debt loads and more.