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

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 help@studentloanplanner.com and we might feature it in an upcoming show!