In this video, I will explain why SoFi Technologies (NASDAQ: SOFI) is up despite President Biden's announcement that the student loan pause will be extended until Dec. 31, 2022.

The Biden Administration announced that the Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients.

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Source Fool.com