3 reasons why a major student-loan lender thinks millions of borrowers should be thrown back into repayment, with or without debt relief
SoFi claimed in its complaint that the latest extension of the payment pause was"unlawful on multiple grounds."
"This lawsuit is an attempt by a multi-billion dollar company to make money while they force 45 million borrowers back into repayment – putting many at serious risk of financial harm," the spokesperson said."The Department will continue to fight to deliver relief to borrowers, provide a smooth path to repayment, and protect borrowers from industry and special interests."
"There's no doubt that forbearance has provided very powerful and critical support to borrowers over the life of the COVID pandemic, but the Secretary found that once forbearance policy lifts, millions and millions of borrowers are going to be worse off with respect to their ability to pay because of COVID," Solicitor General Elizabeth Prelogar said during oral arguments at the Supreme Court.
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