Student Loan Lender SoFi Sues Biden Admin to End Payment Pause Extension

Student Loan Lender SoFi Sues Biden Admin to End Payment Pause Extension
President Joe Biden speaks on a previous student debt relief scheme as Education Secretary Miguel Cardona looks on in Washington on Oct. 17, 2022. Alex Wong/ Getty Images
Katabella Roberts
Updated:
0:00

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.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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