If a student borrower refinanced with sofi or mohela (both considered private lenders), then he/she is not eligible for Trump's interest forgiveness proposal as of March 10th. My loan is still financed through laurel road but Mohela is also on the loan (Federal). How is it legal for a private lender to just say no to Trump's enforcement? He/she still can claim the interest on federal tax return (assuming household did not make over $170,000, so to me this doesn't make sense. Anyone else annoyed with ALL student loans not considered for this relief effort??
Private loans are issued by private banks, who set their own rules.
Federal loans are owned by the Department of Education, and since they are the lender, they can set the rules for those loans.
Just like if you drive a company car - the company can set the rules for the car. You can set whatever rules you want in your own car.
Now, I can see situations where, if banks need a bailout or similar, they can tie student loan relief to it.
And note, MOHELA is just a loan servicer. All they do is process payments and provide call center support. As you know, they aren't a lender, and they do all types of loans.