Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

By:
Editor:
Originally Published: Oct 21, 2022
Originally Published: Oct 21, 2022 Last Updated: Oct 21, 2022 4 min read
Photo collage of student loan borrowers during rally and an October calendar in the background
Money; Getty Images

On Friday night, hours after this story was published, a federal appeals court granted a stay that temporarily blocks the White House's student loan forgiveness plan, preventing it from canceling any debt until certain legal developments are resolved.

The Biden administration had previously been scheduled to start processing applications this weekend.