SoFi said it expects an additional loan payment freeze to occur beyond August 31 as the midterm elections approach. The company had originally guided for $1.57 billion and $180 million in 2022 adjusted net revenue and adjusted EBITDA. SoFi maintained its original guidance of $280-285 million adjusted net revenue and $0-5 million adjusted EBITDA for the first quarter of 2022. And SoFi doesn't expect the student loan payment freeze to end on August 31, given the upcoming midterm elections. Accordingly, Management's updated 2022 guidance assumes that the student loan moratorium will not in fact end during the course of 2022," SoFi said.

Source: Economic Times April 07, 2022 17:00 UTC