Borrowers who paid down their debt during a pandemic freeze that started in March 2020 can in fact get a refund — and then apply for forgiveness.
Laura Baum, a 30-year-old resident of Chicago, paid $5,000 during the payment freeze toward her $15,000 remaining debt. She is eligible to have $20,000 canceled since she was a Pell grant recipient when she was an undergraduate. At the beginning of September, Baum called her loan servicer and asked for a refund.
"If you apply first, you can process the refund to get your money back, and then that balance in your account is canceled," Welbeck said.The Department of Education is offering a subscription pageYou can get a refund for the entire amount you paid during the payment freeze, according to the Department of Education. However, you can choose a lower amount.
Say you had $15,000 worth of debt remaining at the beginning of the payment freeze and have since paid $8,000, but qualify for $10,000 in debt relief. You might decide to ask for a refund of just $3,000. Then, your debt balance will be exactly $10,000, and you can apply for maximum loan forgiveness.Borrowers should expect to receive their refund six to 12 weeks after requesting it, according to the Department of Education. But you might want to double-check with your loan servicer.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
How to get a student loan refund if you paid during pandemicBorrowers who paid down their debt during a pandemic freeze that started in March 2020 can get a refund and then apply for forgiveness, but the process hasn’t always been clear.
Consulte Mais informação »
Thousands gather in Harrisburg for Pa. ‘March for Life’Busloads of people from all over the state gathered on Monday morning for the state's first 'March for Life' since the overturning of the landmark Roe v. Wade decision.
Consulte Mais informação »
Serbia police clash with right-wing protesters at LGBTQ marchPolice clashed with right-wing protesters on Saturday as several thousand people joined an LGBTQ march in Serbia to mark the end of EuroPride week, an event staged in a different European city each year.
Consulte Mais informação »
NYT blames Russian trolls for amplifying antisemitism allegations that took down the Women's March movementThe New York Times claims in a new report that Russian internet trolls are primarily to blame for dismantling the Women's Movement, not allegations of antisemitism.
Consulte Mais informação »
Hundreds march along S.F. waterfront to raise awareness of rare brain disordersDespite the rain and chill Sunday, several hundred people set off from San Francisco's Crissy Field on a walk to raise support and awareness of rare brain disorders.
Consulte Mais informação »