A major student-loan lender is 'actively working to harm' millions of borrowers by trying to block Biden's debt relief, Elizabeth Warren and Ayanna Pressley say. They're demanding answers about this 'dangerous and cynical ploy.'
of the student-loan payment pause, and at the very least, return borrowers ineligible for Biden's broad student-debt relief plan back into repayment.
"Indeed, your company has thrived during the pandemic payment pause, and you have been richly rewarded. You were paid a whopping nearly $103 million in 2021, and your company's four other highest-paid executives made over $70 million combined," the lawmakers wrote.
As SoFi wrote in its legal filing, it has refinanced over $30 billion student loans for over 450,000 borrowers since 2012, and it said it"competes with the federal government for federal student loan borrowers by offering them private financing under more favorable terms."
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