Admitted Ignorance
The Young Turks
00:00
The Biden Administration's Student Loan Forgiveness Plan
The pause on student loan repayments began under the Trump administration. SoFi, a bank was not so happy about that because they happen to make the bulk of their profits through refinancing federal student loans. When you essentially set the student loan interest rate at zero and let students know that they do not have to repay their student loans for a limited period of time, then they're less likely to look for refinancing opportunities.
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