Federal Student Loans: How To Get Refund? - Lifestyle UG Federal Student Loans: How To Get Refund? - Lifestyle UG

Federal Student Loans: How To Get Refund?

Since March 2020, federal student loan payments are paused. Few people knew that borrowers could request refunds of payments made during the payment freeze.

When President Joe Biden revealed a plan to forgive student loan debt, many borrowers who continued to make payments during the pandemic wondered if they'd made the right choice.

The Federal Office of Student Aid will reimburse all student loan payments made since March 13, 2020. Your pre-pandemic debt could be canceled for up to $10,000 ($20,000 for Pell Grant holders).

Here's what you need to know about loan refunds made during the pandemic, including who is eligible and how to request your money back.

Eligible loans include: 1. Direct subsidized loan 2. Direct unsubsidized loan 3. Parent PLUS loan 4. Grad PLUS loans

Who Is Eligible For A Refund?

5. Direct consolidation loans 6. Federal Perkins loans held by the U.S. Department of Education (ED) 7. Federal Family Education Loans (FFELs) held by the ED

Also include: 8. Defaulted FFEL loans not held by the ED 9. Defaulted Health Education Assistance Loans (HEAL) loans

The following loans did not qualify for the payment freeze:

1. Nondefaulted FFEL loans not held by the ED 2. Federal Perkins loans not held by the ED 3. Nondefaulted HEAL loans 4. Private student loans

You must have made a payment on an eligible loan between March 13, 2020, and December 31, 2022, to be eligible for a refund.

How To Request A Refund For Student Loan Payments

Contact your loan servicer to request a refund of pandemic-related student loan payments. Once you know who your loan servicer is, call them directly.

If you're not sure who your loan servicer is, you can check into your account dashboard on the Federal Student Aid site to find out.

if you still don't get information, you can call Federal Student Aid Information Center at 1-800-433-3243.