By: Ayelet Sheffey | Business Insider
Elizabeth Warren and Ayanna Pressley want a major student-loan lender to answer to the millions of borrowers it’s trying to block from getting student-debt relief.
In March, SoFi Bank — a student-loan refinancing company — filed a lawsuit against President Joe Biden’s Education Department to end the latest extension 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.
In November, two conservative-backed lawsuits halted Biden’s plan to cancel up to $20,000 in student debt broadly for federal borrowers, leading Biden to extend the pause 60 days after June 30, or 60 days after the Supreme Court issues a final decision on the legality of the relief, whichever happens first.
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