A major banking institution and federal student loan refinancing company has called on a federal court to end the Biden administration’s pause on student loan payments, arguing that the moratorium has no legal basis. San Francisco-based SoFi Bank and SoFi Lending Corp.—a student loan refinancing company—sued the Department of Education (DOE) on Friday, according to a complaint (pdf) filed in the District Court for the District of Columbia. That complaint asked that President Joe Biden’s latest extension of the student-loan payment pause be deemed “invalidated and set aside” or, at a minimum, that the DOE be ordered to require repayment by borrowers who are not eligible for student-debt cancellation. It also asked that the court issue a permanent injunction preventing the administration from “enforcing, applying, or implementing the eighth extension of the loan moratorium.”
https://www.zerohedge.com/political/student-loan-lender-sofi-sues-biden-admin-end-payment-pause-extension
A major banking institution and federal student loan refinancing company has called on a federal court to end the Biden administration’s pause on student loan payments, arguing that the moratorium has no legal basis. San Francisco-based SoFi Bank and SoFi Lending Corp.—a student loan refinancing company—sued the Department of Education (DOE) on Friday, according to a complaint (pdf) filed in the District Court for the District of Columbia. That complaint asked that President Joe Biden’s latest extension of the student-loan payment pause be deemed “invalidated and set aside” or, at a minimum, that the DOE be ordered to require repayment by borrowers who are not eligible for student-debt cancellation. It also asked that the court issue a permanent injunction preventing the administration from “enforcing, applying, or implementing the eighth extension of the loan moratorium.” https://www.zerohedge.com/political/student-loan-lender-sofi-sues-biden-admin-end-payment-pause-extension
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Student Loan Lender SoFi Sues Biden Admin To End Payment Pause Extension
In its filing with the court, SoFi Bank argued that the moratorium has no legal basis and has cost the bank, along with its refinancing business, millions of dollars in profits...
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