Private lender SoFi is suing to overturn the Biden administration’s last extension of the pause on federal student loan payments, arguing the move is unlawful and harms its student loan refinancing business.
SoFi has a lot at stake with the ongoing payment pause. The company made a name for itself by refinancing education loans — lowering the interest rates and monthly payments of people with private and federal student loans. Refinancing federal student loans can save borrowers money, especially those with high-interest graduate debt. But it means giving up federal benefits, including access to income-driven repayment plans and public service loan forgiveness.
“SoFi is being forced to compete with loans with 0% interest rates and for which any ongoing repayment of the principal is entirely optional,” the company said in the complaint. “Every day that the eighth extension of the loan moratorium remains in place, it causes significant, irreparable harm to SoFi.”allowed to implement the debt relief program or the litigation is resolved. If no resolution occurs by June 30, payments will restart on Sept. 1, according to the department.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Court reverses education chief’s finding that Lakewood provides ‘thorough and efficient’ educationLawyers for parents hope the decision will lead to a change in the state aid formula for the district.
Leer más »
Ice Hockey: Previewing all five 2022 NJSIAA state tournament finalsTake an in-dept look at all five state final matchups at Prudential Center on Monday.
Leer más »
Ice Hockey: Previewing Monday’s five 2023 NJSIAA state tournament finalsTake an in-dept look at all five state final matchups at Prudential Center on Monday.
Leer más »
Paul Manafort agrees to pay $3.15 million to settle with Justice Dept.The money is to settle a civil case brought by the Justice Department last year over foreign bank accounts that he did not declare to United States officials.
Leer más »
U.S. Justice Dept opposes Google bid to move advertising antitrust case to New YorkThe U.S. Justice Department is fighting to keep its digital advertising lawsuit against Google in Virginia federal district court, warning of potential prolonged litigation if the Alphabet Inc unit wins its effort to transfer the government's new case to New York.
Leer más »
Trump plans to abolish U.S. Education Department if electedFormer President Donald Trump revealed Saturday that he plans to shut down the Department of Education if he retakes the White House in 2024.
Leer más »