• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it

2

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy

3

A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history

1

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it

2

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy

3

A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
Personal Financestudent loans and debt

You can’t apply for student loan forgiveness right now because a judge from Texas struck the program down

By
Akayla Gardner
Akayla Gardner
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Akayla Gardner
Akayla Gardner
and
Bloomberg
Bloomberg
Down Arrow Button Icon
November 11, 2022, 12:07 PM ET
Joe Biden
Joe Biden.Samuel Corum—Getty Images

The US Department of Education stopped accepting applications for student loan forgiveness after a federal court ruled Thursday that President Joe Biden’s plan is unlawful.

A website where individuals can apply to receive as much as $20,000 in relief displayed a notice Friday that the program is blocked because of the legal challenges. 

“As a result, at this time, we are not accepting applications,” the message reads. “We are seeking to overturn those orders.” 

Ahead of Tuesday’s midterm elections, Biden and other administration officials touted the program and promised to cancel loans for up to 40 million borrowers.

The Justice Department is expected to pursue an appeal of the Texas federal court ruling, according to White House press secretary Karine Jean-Pierre, who reassured borrowers of the administration’s confidence in fighting the decision.

“For the 26 million borrowers who have already given the Department of Education the necessary information to be considered for debt relief — 16 million of whom have already been approved for relief — the Department will hold onto their information so it can quickly process their relief once we prevail in court,” Jean-Pierre said in a statement.

The federal court’s order was issued in response to lawsuit brought by the Job Creators Network Foundation, a conservative advocacy group, on behalf of two Texans who claim that their education debt was unfairly excluded from the program. 

Biden’s plan, which applies to federally administered loans, calls for $10,000 in relief per borrower, subject to income caps of $125,000 per individual and $250,000 per household.

The measure has drawn a bevy of legal challenges; most cases of which were dismissed due to lack of standing. An injunction from a separate lawsuit in the 8th US Circuit Court of Appeals, initiated by six Republican-led states, barred the Education Department from dispersing any relief, but allowed the agency to continue to accept applications during that time.

–With assistance from Madlin Mekelburg and Jennifer Jacobs.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Authors
By Akayla Gardner
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Personal Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Personal Finance

SpaceX and Anthropic are about to go public—and your 401(k) may be forced to buy in
InvestingSpaceX
SpaceX and Anthropic are about to go public—and your 401(k) may be forced to buy in
By Catherina GioinoJune 4, 2026
9 hours ago
US Secretary of Treasury Scott Bessent testifies during a Senate Finance Committee hearing concerning the fiscal year 2027 budget for the Treasury Department, on Capitol Hill in Washington, DC, on June 3, 2026. (Photo by Brendan SMIALOWSKI / AFP via Getty Images)
Economynational debt
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
By Nick LichtenbergJune 4, 2026
11 hours ago
Top CD rates from major banks June 4, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 4, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 4, 2026
13 hours ago
Current price of Ethereum for June 4, 2026
Personal FinanceEthereum
Current price of Ethereum for June 4, 2026
By Joseph HostetlerJune 4, 2026
13 hours ago
Current price of Bitcoin for June 4, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for June 4, 2026
By Joseph HostetlerJune 4, 2026
13 hours ago
Current price of oil as of June 4, 2026
Personal FinanceOil
Current price of oil as of June 4, 2026
By Joseph HostetlerJune 4, 2026
13 hours ago

Most Popular

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it
Success
CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it
By Orianna Rosa RoyleJune 4, 2026
20 hours ago
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
Cybersecurity
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
By Sasha RogelbergJune 3, 2026
2 days ago
A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
Startups & Venture
A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
By Shawn TullyJune 4, 2026
20 hours ago
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
Economy
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
By Nick LichtenbergJune 4, 2026
11 hours ago
Current price of oil as of June 4, 2026
Personal Finance
Current price of oil as of June 4, 2026
By Joseph HostetlerJune 4, 2026
13 hours ago
Teens are up against the worst summer job market in nearly 80 years—they’re fighting against hundreds to work at ice cream shops and swimming pools
Success
Teens are up against the worst summer job market in nearly 80 years—they’re fighting against hundreds to work at ice cream shops and swimming pools
By Emma BurleighJune 2, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.