SoFi Technologies (NASDAQ: SOFI) stock is posting huge gains this week. As of 2 p.m. ET Thursday, the fintech-services company's share price had risen roughly 30% from the previous week's market close, according to data from S&P Global Market Intelligence.

SoFi's valuation is getting a substantial boost as a bill to raise the debt ceiling moves through Congress. Following negotiations, a provision to end the temporary moratorium on federal student loan payments and interest accrual has been included in the bill. The development could kick-start SoFi's performance later this year, and investors have responded by bidding up the stock. 

The debt ceiling bill deal has been passed in the Republican-controlled House of Representatives, and it will very likely now pass in the Democrat-controlled Senate before being signed by President Biden. With the included provisions, it looks like the moratorium on federal student loan payments and interest accrual will end after Aug. 31. 

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Source Fool.com