SoFi Technologies, Inc. (SOFI) is a financial services company that operates through three segments: Lending; Technology Platform; and Financial Services. It runs Galileo, a technology platform that offers services to financial and non-financial institutions, and Apex, a technology-enabled platform that provides investment custody and clearing brokerage services.
In late August 2022, President Joe Biden announced a new federal student loan forgiveness program, which will cancel up to $20,000 in student loan debt for qualifying borrowers. Along with the student loan forgiveness plan, Biden is expected to end the loan repayment pause that has been in effect for more than two years.
