A federal judge said last week that President Biden's newest student loan forgiveness plan would remain blocked for an additional 14 days to allow the court time review the case, in the latest setback for the administration's efforts to forgive student debt.

Student loan forgiveness has been a key campaign promise but has been stymied by legal challenges over the last several months. This latest student loan forgiveness effort, which would not require an application, could forgive up to $147 billion in student debt for upwards of 25 million Americans.

On Thursday, Federal judge Randal Hall ruled that "good cause exists" to extend his Sept. 5 restraining order that blocked the Department of Education's student loan cancellation effort, after seven GOP-led states sued Pres. Biden and Education Secretary Miguel Cardona, arguing that the debt forgiveness plan would "unlawfully" cancel federal student loans "overnight."