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Student debt forgiveness relief halted. What’s next?

(CNN) - On the same day President Joe Biden touted his student loan forgiveness program, a federal appeals court on Friday Put the policy on pause for now.

Barring the administration from cancelling loans while the court considers a legal challenge from 6-Republican led states

All of which are requesting a preliminary injunction, saying President Biden doesn't have the legal authority to wipe out the debt.

"Republican members of congress are doing everything they can to deny this relief, even to their own constituents. Their outrage is wrong and it's hypocritical," President Biden spoke.

Waiting a while longer

The pause means millions of people waiting for the rollout of the first wave of the loan forgiveness program will now have to wait a little longer while politicians decide on the program's fate.

"This relief is breaking barriers in our communities and in our minds about what we can do with our future," said Zachary Bernard, Student Senior of Delaware State University.

Debt dismissal and number of applicants

The program would dismiss up to $10,000 in debt for eligible applicants.

However, they could also dismiss up to $20,000 if they received Pell Grants.

More than 20 million people have applied since last week.

The White House had previously identified Sunday as the soonest day some borrowers could see their debt canceled.

"I want to be clear. It's going to benefit the most Working people, middle class folks earning $125,000," President Biden explained.

What happens now?

So what happens now? A lot of back and forth.

The White House is still encouraging people to apply for relief at StudentAid.gov.

The administration has until Monday to submit its response, followed by the Republican response on Tuesday.

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Dillon Fuhrman

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Vanessa Gongora

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