credit : google
credit : google
If you willingly made payments during the COVID-19 student loan payment delay, you could automatically get a reimbursement for your loan payments. This is why.
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According to The Hill, lenders may grant refund requests from student loan borrowers who have made payments or repaid their debts in full after March 2020.
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This policy is a component of President Biden's pledge to cancel up to $20,000 in federal student loan debt per borrower.
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Eligible borrowers may not need to request a refund from their lender since they could automatically qualify, according to the Office of Federal Student Aid.
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The catch is that borrowers must first satisfy two conditions.
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To gain debt relief under Biden's plan, you must first be granted student loan forgiveness.
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The application forms will be made available, according to the Department of Education, next month.
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Second, the payments you've paid since previous President Trump established the student loan on March 13, 2020
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Your loan balance must have fallen below the threshold for the maximum debt relief you are eligible for due to a payment halt. They must not have completely repaid their debt, nevertheless.
credit : envato elements
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