Dear SOFI Stock Fans, Mark Your Calendars for Nov. 15

Source: shutterstock.com/Michael Vi

SoFi (NASDAQ:SOFI) stock is in focus today as the Nov. 15 deadline for students to apply for loan forgiveness quickly approaches. Borrowers who earn less than $125,000 per year in income are eligible for $10,000 of federal student loan debt forgiveness. Married couples who jointly earn less than $250,000 per year are eligible for $10,000 of debt forgiveness as well. On top of that, Pell grant recipients are eligible for an additional $10,000 of debt cancellation, bringing the maximum cancellation amount per person to $20,000.

Earlier this month, all-in-one financial platform SoFi reported its third-quarter earnings. For the period, revenue tallied in at $419 million, up 51% year-over-year (YOY). Total origination volume also climbed 2% YOY to $3.48 billion. About 13% of that, or $457.18 million, was derived from student loans, a decrease of 53% YOY. Notably, third-quarter student loan volume is still down by over 50% compared to the average pre-pandemic volume due to the effects of the federal student loan moratorium. President Joe Biden has said the moratorium will expire on Dec. 31, however, with payments expected to resume the following day.

Here’s what investors should be watching with SOFI stock moving forward.