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Post by olliegator on Aug 26, 2022 13:47:24 GMT -6
When I login to EdFinancial Services, it lists my loan as “Direct Consolidation Subsidized.” That loan type would qualify, right? My payments have been paused during the pandemic. I did make one payment in November 2020. So I should write to them and request a refund? They should quality. I would only ask for a refund if your balance now is less than what would be forgiven. Thank you! That’s great to know - my balance is $3200 and I made a $1500 payment (not thinking forgiveness would ever be an option).
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leahcar
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Post by leahcar on Aug 26, 2022 13:56:38 GMT -6
Ls2012, I can't access my own info on that site for the same reason. College was 20 years ago so many addresses, a name change, etc. I only wanted to access in hopes that would tell me where to find if MH had a pell grant.
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athn64
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Post by athn64 on Aug 26, 2022 14:00:21 GMT -6
doublestuf , The way I am reading it is that you can request a refund of any payments made during the pause. So you should be able to request it all back. If any isn't forgiven, the repay will simply be reapplied to the balance as if you hadn't made payments. This is good information. I know my SIL paid hers off during the pause. I'll let her know to look into it. They could really use the money.
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Peekaru
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Post by Peekaru on Aug 26, 2022 14:16:22 GMT -6
Do we know for sure how they are going to confirm income for people who aren't on income based payment plans? I keep seeing 2020 or 2021 tax returns. Will we have to submit both or pick one? One of those years, i'm over the limit by like 500 dollars. No confirmation on this yet.
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Peekaru
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Post by Peekaru on Aug 26, 2022 14:17:14 GMT -6
When I login to EdFinancial Services, it lists my loan as “Direct Consolidation Subsidized.” That loan type would qualify, right? My payments have been paused during the pandemic. I did make one payment in November 2020. So I should write to them and request a refund? It should! And you can!
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Peekaru
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Post by Peekaru on Aug 26, 2022 14:19:01 GMT -6
Ls2012 , I can't access my own info on that site for the same reason. College was 20 years ago so many addresses, a name change, etc. I only wanted to access in hopes that would tell me where to find if MH had a pell grant. Log into your Federal Student Aid account via studentaid.gov. Your official FSA dashboard is the first thing you see when you log in. Other sources call this the FAFSA portal; for today’s purposes, they’re the same thing. Note: This is not the same portal as where you may typically make student loan payments (e.g., through a servicer like Sallie Mae). Go to “My Aid” on your FSA dashboard. You should see a chart that includes “Loans” and “Grants.” Click on “View Details.” If you have Pell Grants, the amounts awarded to you should be right there. You would need to log in under his SS# though.
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fatpony
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Post by fatpony on Aug 26, 2022 14:31:13 GMT -6
I wonder if this is true. ETA: it's not sensitive content. It's an infographic. My husband went to DeVry during the exact time period. Except the language on the FTC page uses past tense. www.ftc.gov/enforcement/refunds/devry-refundsI'm going to make him still apply. Or really, I'll get all his info and apply for him.
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piratecat
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Post by piratecat on Aug 26, 2022 14:35:15 GMT -6
piratecat, The lazy person's way of finding out if you qualify for the pause is to log in and look at your interest rate. If it's at 0, you qualify. There are much more official ways of doing it, but this is the easiest and fastest. Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies.
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willow
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Post by willow on Aug 26, 2022 14:41:40 GMT -6
Hmm my H went to Brown College. He’s fully paid off his loans but I sent him the link to the borrower defense because it says “refunds” so I assume that means they will repay people who have already paid loans off?
If he qualifies that would be insane. It would relieve a lot for us to get a small windfall like that.
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Peekaru
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Post by Peekaru on Aug 26, 2022 14:44:12 GMT -6
piratecat , The lazy person's way of finding out if you qualify for the pause is to log in and look at your interest rate. If it's at 0, you qualify. There are much more official ways of doing it, but this is the easiest and fastest. Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. Those which are held by the DOE are eligible, those which are not, are not. I have no idea how to find that out, though. Let me ponder.
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piratecat
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Post by piratecat on Aug 26, 2022 16:48:06 GMT -6
Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. Those which are held by the DOE are eligible, those which are not, are not. I have no idea how to find that out, though. Let me ponder. I pay Navient, which was previously Sallie Mae.
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clucky
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Post by clucky on Aug 26, 2022 17:40:07 GMT -6
piratecat, The lazy person's way of finding out if you qualify for the pause is to log in and look at your interest rate. If it's at 0, you qualify. There are much more official ways of doing it, but this is the easiest and fastest. Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. This is what mine were too. I don’t think we are included, from what I can tell. Eta should have kept reading, but copy paste for everythh to img you’ve written.
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piratecat
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Post by piratecat on Aug 26, 2022 18:06:04 GMT -6
Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. This is what mine were too. I don’t think we are included, from what I can tell. Eta should have kept reading, but copy paste for everythh to img you’ve written. Not included in the forgiveness either? I don’t understand the distinctions one bit.
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clucky
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Post by clucky on Aug 26, 2022 18:42:29 GMT -6
This is what mine were too. I don’t think we are included, from what I can tell. Eta should have kept reading, but copy paste for everythh to img you’ve written. Not included in the forgiveness either? I don’t understand the distinctions one bit. Mine is mainly curiosity, I paid mine off a few months ago. From what I could see, they aren’t covered. I wasn’t the one who initially found my loans and am not even sure there were other options for me at the time. Some were accruing interest from the minute they began. So consolidating and trying to lock in an interest rate after a deferment. Just remember in 2001/2/3 it was a rush to lock in a rate. I’m also completely lost on this discussion. My head is spinning.
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piratecat
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Post by piratecat on Aug 26, 2022 18:47:35 GMT -6
Not included in the forgiveness either? I don’t understand the distinctions one bit. Mine is mainly curiosity, I paid mine off a few months ago. From what I could see, they aren’t covered. I wasn’t the one who initially found my loans and am not even sure there were other options for me at the time. Some were accruing interest from the minute they began. So consolidating and trying to lock in an interest rate after a deferment. Just remember in 2001/2/3 it was a rush to lock in a rate. I’m also completely lost on this discussion. My head is spinning. Yea, I don't recall what, if any, other options I had, and I'm certain I didn't understand what the differences are and I still don't. I consolidated somewhere along the way as it seemed like the adult thing to do. I don't have a ton left but it sure would have been nice.
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cnf
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Post by cnf on Aug 26, 2022 19:14:33 GMT -6
Those which are held by the DOE are eligible, those which are not, are not. I have no idea how to find that out, though. Let me ponder. I pay Navient, which was previously Sallie Mae. This was half my loans. The other half were federal. My folks paid off the Sallie Mae but I think they paid that part off during the pandemic pause. I wonder if they could get a refund. That would make them pretty happy after Navient held the loan as "consolidated" but in two separate accounts, unbeknownst to my folks, who were very angry and surprised when they thought they paid it off only to be told there was 11K left on the other half. I paid off my grad school loans right before the pandemic, so I'm SOL, but also just happy to be done. I hope everyone else in here gets some money back and gets the loan money. Dumb question; when getting refund, they obviously don't recharge the amount they're returning back to the loan, right?
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Post by bunnyfungo on Aug 26, 2022 21:28:32 GMT -6
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Post by PandaWatch on Aug 27, 2022 7:47:51 GMT -6
Neither Mohela or Nanvient currently have options to request a refund for those paid in the pause. Both my loans were paid off in the pause. Did you call? I’m hearing stores of people calling their loan servicers and being successful. Not sure which servicers, though.
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Post by PandaWatch on Aug 27, 2022 7:48:54 GMT -6
I think it’s $125k per person or $250k joint? It is, i'm just wondering if based on our individual incomes if it makes sense to do taxes separate so his repayment is only based on his, or if the other tax breaks would make up for it. I'll need to find an accountant, but I've never used one before because simple taxes and middle class. From what I’ve read, they’re using 2020 or 2021 tax years.
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Post by PandaWatch on Aug 27, 2022 7:51:43 GMT -6
Do we know for sure how they are going to confirm income for people who aren't on income based payment plans? I keep seeing 2020 or 2021 tax returns. Will we have to submit both or pick one? One of those years, i'm over the limit by like 500 dollars. I think you can pick one.
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Post by PandaWatch on Aug 27, 2022 7:54:50 GMT -6
piratecat, The lazy person's way of finding out if you qualify for the pause is to log in and look at your interest rate. If it's at 0, you qualify. There are much more official ways of doing it, but this is the easiest and fastest. Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. I’m working on getting FFELP to be eligible for forgiveness. What I’m hearing is that the administration wants to include it it, but it’s complicated sine the Dept of Ed doesn’t own those loans. We’ve suggested a way to get people like you forgiveness without having to jump though additional hoops. Fingers crossed they agree and do it.
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fatpony
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Post by fatpony on Aug 27, 2022 7:55:49 GMT -6
Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. I’m working on getting FFELP to be eligible for forgiveness. What I’m hearing is that the administration wants to include it it, but it’s complicated sine the Dept of Ed doesn’t own those loans. We’ve suggested a way to get people like you forgiveness without having to jump though additional hoops. Fingers crossed they agree and do it. Thank you for your work in this and walking us through it all PandaWatch
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piratecat
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Post by piratecat on Aug 27, 2022 7:57:16 GMT -6
Thank you. Interest rate is not 0, unfortunately. It says loan type is FFELP and I’m finding mixed information about whether it qualifies. I’m working on getting FFELP to be eligible for forgiveness. What I’m hearing is that the administration wants to include it it, but it’s complicated sine the Dept of Ed doesn’t own those loans. We’ve suggested a way to get people like you forgiveness without having to jump though additional hoops. Fingers crossed they agree and do it. That would be amazing. Thank you for the work you do. ❤️
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Post by PandaWatch on Aug 27, 2022 7:57:40 GMT -6
Politico is reporting that the application for forgiveness will be ready in October and that it will take 4-6 weeks to see forgiveness.
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KMW08
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Post by KMW08 on Aug 27, 2022 7:58:18 GMT -6
When more information is provided I’m sure this will be answered. (Using simple math with no other factors involved)I have 22k left in student loans and a small amount of that is pell grants ($4400), I’m assuming I’d roughly qualify for $14k in forgiveness?
I’m just trying to figure out what I should begin to pay since it’s all principle right now. I held off on paying due to the possibility of forgiveness. I figured working in medical I would qualify for something if the forgiveness ever happened.
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fatpony
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Post by fatpony on Aug 27, 2022 8:00:41 GMT -6
Do you only get the exact amount in Pell, or is any appearance of Pell good for 20K (assuming you have that much left)?
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Post by PandaWatch on Aug 27, 2022 8:01:23 GMT -6
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fatpony
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Post by fatpony on Aug 27, 2022 8:02:28 GMT -6
Cutting it awfully close with repayment starting again in January.
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Post by PandaWatch on Aug 27, 2022 8:05:04 GMT -6
Do you only get the exact amount in Pell, or is any appearance of Pell good for 20K (assuming you have that much left)? The way I understand it, if you had a Pell grant, you’re eligible for up to an additional $10k (depending on loan balance). It is not the amount of your Pell grant; it could be more. Example: 1. if you have $30k in loans and had a Pell grant (regardless of amount), you get $20k forgiven. 2. If you have $15k in loans and had a Pell grant (regardless of amount), you get $15k forgiven. 3. If you have $30k in loans, but no Pell grant, you get $10k forgiven.
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Post by coffeecake on Aug 27, 2022 8:09:08 GMT -6
I have questions, but I don’t even know what they are at this point. I am fortunate enough not to have had to take out loans, but my H has…a lot. He doesn’t even remember what he has or anything because he’d assumed he’d be paying on it forever. The payment just goes through automatically every month. I don’t know anything about the loan world, but we have to figure this out. It would be huge if some of his loans were forgiven.
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