Student loans have been paused for three years. Now, SoFi, a company that refinances student loans is suing to block President Biden’s latest pause extension. The bank says its federal student loan refinancing business has suffered because borrowers have little incentive to refinance while payments and interest remain on hold. The company claims in the lawsuit that it has lost out on millions of dollars in profits.

At a minimum, the bank is asking the judge to limit the pause only to borrowers who would be eligible for Biden’s cancellation plan. The bank says Biden’s latest pause on student loan payments is unlawful.

The freeze has been extended eight times. The first seven times was on the basis of the pandemic. This last time it was extended because Biden’s loan forgiveness program is stuck in legal limbo.

SoFi argues since it’s not pandemic-related, the Biden administration doesn’t have the authority to continue freezing payments.

It’s the latest legal recourse Biden’s student loan forgiveness program faces. This lawsuit over paused interest follows as the Supreme Court decides whether loans can be forgiven outright.

While the Supreme Court is slated to make a ruling by June, Biden said last week that he’s not confident that the Supreme Court will clear his plan.

The White House has not offered a back-up plan.

The Department of Education has defended the legality of the pause. It is calling the lawsuit an attempt by a multi-billion dollar company to make money while they force 45,000,000 borrowers back into repayment.

“The Department will continue to fight to deliver relief to borrowers, provide a smooth path to repayment and protect borrowers from industry and special interests,” the agency said in a statement.