Millions of student-loan borrowers are kicked off of Biden's key affordable repayment plan in a surprise court reversal

The roller coaster ride for borrowers enrolled in a key affordable repayment plan continues.

On Monday, the 8th Circuit directed a district court to approve Donald Trump's proposed settlement with the state of Missouri to eliminate the SAVE student-loan repayment plan.

The plan has been embroiled in a legal back-and-forth for years. Most recently, a district court declined to rule on the proposed settlement, which some advocates and lawmakers saw as a win for borrowers and urged the Department of Education to carry out relief under SAVE.

However, the 8th Circuit's ruling means that, once approved, the department will move forward with the settlement and require enrolled borrowers to transition to a new plan.