Student loan borrowers who applied for President Joe Biden's one-time student loan started receiving emails that their applications have been approved. They won't be able to get their loans forgiven soon.
The emails were being sent to approved applicants. It takes time to notify millions of people and the messages will go out in batches.
The relief won't be immediately reflected in the bank accounts of applicants due to legal challenges.
A number of lawsuits have been filed challenging the program, which have blocked our ability to discharge your debt at the moment. The lawsuits are meritless, that's what we think.
Beginning today, applicants and others seeking relief through the Biden-Harris Administration's Student Debt Relief Plan will begin receiving updates. Don’t worry if you don’t get an email today – more are coming.
— Secretary Miguel Cardona (@SecCardona) November 19, 2022
Two federal courts have stopped Biden from canceling his loans. The Supreme Court was asked to review the decision of a lower court. The Supreme Court will make a decision by the end of the week.
If you win in court, we will discharge your approved debt.
The lawsuits have caused a lot of confusion. The administration encouraged borrowers to apply for relief by the end of the year. By the time federal loan payments resume in January, they will have enough time to process applications.
The implementation date continues to be pushed back. Relief is not known when it will take effect or if it will be allowed to proceed at all.
The borrowers want Biden to extend the payment pause until the lawsuits are resolved. Some borrowers are confused about what to do with requests for refunds of payments.
The White House said that 26 million people applied for forgiveness before the application was shut down. More than 15 million applications have been approved.
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