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SoFi sues over student-loan pause to force
borrowers to resume making payments

Original Article

Posted By: NorthernDog, 3/6/2023 7:16:43 PM

Some 40 million people have had their student-debt payments paused because the government thinks they need the help. But one big financial technology company, which refinances student loans, disapproves of the public policy and wants the payments resumed immediately to help its bottom line. SoFi Technologies, a financial technology company involved in the student loan refinancing business, is suing the Department of Education over the student loan payment pause. In a suit filed in federal court late last week, the company alleges that the latest extension of the COVID-era pause on student loan payments, interest and collections “is unlawful on

Comments:

At some point the loans have to be re-paid. Lender is at boiling point over the stalled payments.

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Reply 1 - Posted by: voxpopuli 3/6/2023 7:21:51 PM (No. 1418912)
why not car payments.. mortgage payments.. bookie payments.. i know what would stop it.. health insurance payments.. direct payments to skools.. TAX PAYMENTS...
7 people like this.

Reply 2 - Posted by: DVC 3/6/2023 7:30:55 PM (No. 1418916)
Pay your damned loans, deadbeats!
19 people like this.

Reply 3 - Posted by: volksford 3/6/2023 7:31:24 PM (No. 1418917)
Pay up you damn deadbeats ! ! Nobody paid my damn bills
15 people like this.

Reply 4 - Posted by: padiva 3/6/2023 7:40:02 PM (No. 1418922)
Can I go to Home Depot/Lowes to get a student loan that looks like a refrigerator?
15 people like this.

Reply 5 - Posted by: Birddog 3/6/2023 8:59:10 PM (No. 1418967)
"Perhaps" a "pause" was the "Right " thing to do....at the emergence of the emergency...That ain't "Now". Smart people paid down debt, not just kicked the can. Biden suckered many people into not doing the smart thing by making a crooked promise trying to buy votes. Trying to keep it afloat by putting companies into bankruptcy by NOT allowing them to return to getting paid is just plain wrong. Alternatively, he could allow school debt to be renegotiated, bought down, or dealt with by Bancruptcy/re-organization like every OTHER form of borrowing.
5 people like this.

Reply 6 - Posted by: itsonlyme 3/6/2023 9:18:28 PM (No. 1418972)
The young electorate sheep, Baa Baa Baa, are puzzled why their student payment "forgiveness" is in doubt......Baa Baa Baa.......Did the Demented Fuhrer need my vote in November, 2022? Baa Baa Baa.....Oh well, blame in the Orange Man Mean Tweets......Baa Baa Baa
6 people like this.

Reply 7 - Posted by: Quigley 3/6/2023 9:33:21 PM (No. 1418975)
But … but … schmoe promised sofi the gummint would pay all the loans, accelerated interest, and penalties. That’s what they paid absentia of cortex to get done.
3 people like this.

Reply 8 - Posted by: edgar 3/6/2023 10:29:18 PM (No. 1418996)
Their business is refinancing student loans. No one is refinancing student loans because they are basically interest free during the never ending "Pause". Thus, So Fi is now so screwed.
4 people like this.

Reply 9 - Posted by: padiva 3/6/2023 10:33:59 PM (No. 1418997)
Do unpaid student loans make a person more or less credit worthy? Will these people be able to get credit cards, car loans, and/or mortgages in the next few years?
6 people like this.

Reply 10 - Posted by: paral04 3/7/2023 6:13:09 AM (No. 1419099)
Forty million people? That is more than 1/4th of our population. There is no way in hell we can afford to let them not pay their debts. This is absolute Bull and a horrible precedent to set. The borrowers made a solemn commitment and must pay back what they promised..
1 person likes this.

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Some 40 million people have had their student-debt payments paused because the government thinks they need the help. But one big financial technology company, which refinances student loans, disapproves of the public policy and wants the payments resumed immediately to help its bottom line. SoFi Technologies, a financial technology company involved in the student loan refinancing business, is suing the Department of Education over the student loan payment pause. In a suit filed in federal court late last week, the company alleges that the latest extension of the COVID-era pause on student loan payments, interest and collections “is unlawful on
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