Sofi Sues To End The Student Loan Pause

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 Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn Feeling helpless when it comes to your student loans? Try our free student loan calculator Check out our refinancing bonuses we negotiated Book your custom student loan plan Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!