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Sofi Sues To End The Student Loan Pause
Description
On Friday, March 3rd 2023, private student loan company SoFi filed a lawsuit against the U.S. Department of Education, hoping to overturn the most recent payment pause extension.
SoFi, a private student loan company known for its partnership with the LA Rams stadium, has seen a drastic 90% drop in revenue due to the COVID pause, and they've decided to take action against it now. What does this mean for you? Check out this episode as I discuss this controversial topic and what you can do now to prepare for the upcoming weeks.
In today's episode, you'll find out:
- A disclosure statement about SoFi and MOHELA
- Why SoFi is suing now over the Heroes Act
- SoFi's recent quarterly results
- A possible reason for the actions of the Heroes Act legal team
- How this lawsuit will affect you
- Will this affect the new student loan repayment plan
- SoFi's motivation and one way the Biden administration could respond
- Why we need the IDR Waiver FAQ now
- How to prepare for the next six weeks
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