SOFI is asking a federal court to strike down the Biden's 8th extension of a pause on student loan repayment

$SOFI is asking a federal court to strike down the Biden's 8th extension of a pause on student loan repayment, saying it's lost $6 million in profit since the latest move, per Bloomberg.

SoFi alleges it has lost between $9 million and $11 million in total revenues and approximately $6 million to $8 million in profits since the most recent extension went into effect in January.

In November, the White House is extended the pause on federal student loan payments through the end of June 2023 in an effort to "alleviate uncertainty" for borrowers as the Biden administration battles at the Supreme Court to put President Biden’s student loan handout into affect.

Biden announced in August that he will hand out $10,000 of federal student loan for certain borrowers making less than $125,000 per year, and up to $20,000 for Pell Grant recipients.

The president has previously said he is "confident" his "student debt relief plan is legal."