qualifying organization, ask your employer. The Biden administration temporarily relaxed the programs eligibility requirements to allow borrowers to consolidate and getretroactive PSLFcredit for the monthly payments they made before consolidating, and some of the time that their loans were in deferment or forbearance. The one detail that might explain why you reached 120 payments and got a refund is the one-time IDR count update. Moving forward, all PSLF forms will be reviewed for eligibility under the PSLF and TEPSLF programs. may qualify for TEPSLF instead. list of our trusted federal student loan servicers, When l checked last year I had 78 qualifying PSLF payments. At least 3-4 months before I heard anything at all. Federal Student Aid Website. You're eligible for debt relief if you had an annual federal income below $125,000 individually or $250,000 if you're married or head of household in 2020 or 2021. SEARCH TO SEE IF YOUR EMPLOYMENT QUALIFIES. TEPSLF information page. (Part of the /r/StudentLoans network), Press J to jump to the feed. And if you havent applied for forgiveness yet, use thePSLF Help Toolon the Federal Student Aid website,studentaid.gov, to generate the form. 1 Verify Employment 2 Review Loan Eligibility 3 Check Your Repayment Plan 4 Confirm Your Qualifying Payments 5 Make Qualifying Payments 6 Track Your Payments 7 Submit Your PSLF Form for Forgiveness 1. If your loans are not currently serviced by MOHELA that's OK. You should still fill out a PSLF form and return Heres hoping its just around the corner. My PSLF tracker is still at 119; the accurate count is higher by at least three. Privacy Policy. However, this does not influence our evaluations. the remaining balance on your loan is forgiven. To get the most benefit from the program, you should switch to an may qualify for TEPSLF instead. Assuming debt cancellation occurs, the Education Department has said a refund of the overpayment would be automatic for anyone who paid down their debt below the cancellation amount they qualify for. Those who made payments or paid off their federally held loans during the interest-free forbearance by individual payments or lump sum are entitled to seek refunds. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Am I eligible for a refund for overpayment as I paid every month up until April 2022 either by 1) oeverpayment or 2) Covid-19 refund for auto-debit payments made from mid March 2020 through April 2022? Graduated Repayment Plan, Extended Repayment Plan, Standard Repayment Plan for Direct Consolidation Loans, and Graduated If you ask for a refund . how Federal Student Aid partners with loan servicers, list of our trusted federal student loan servicers, Completing the TEACH Grant Certification Form, Get information about the PSLF Limited Waiver, You may qualify for a .25% interest rate reduction. To take full advantage of the Biden debt cancellation plan up to $10,000 per borrower, or $20,000 if they received a Pell Grant at any point in the past many are seeking a refund of payments that brought their balances below those thresholds. Get information about the PSLF Limited Waiver. The PSLF Program takes ten years of payments and employment. Therefore, payments to make them eligible for PSLF/TEPSLF. in determining whether you reach forgiveness. outstanding balance if applicable. Information and advice about Public Service Loan Forgiveness, a forgiveness program for US federal student loans. You can find your bank transaction dates or check numbers on your bank account portal. EIN and employer name), and your employers organizational structure. For the most part, my work has helped . Based on what you have shared, you probably should get a refund for all of the payments past the required 120. She consolidated her loans in February 2019. Loan Forgiveness and Discharge Programs Public Service Loan Forgiveness (PSLF) If you work in certain public service jobs and have made 120 payments on your Direct Loans, you may be eligible to have your loans forgiven. and our submitted online through I was steered into forbearance for over a decade when I would have qualified for income-based reasonable payments. Thank you for your input. MOHELA's systems will reflect August 31, 2023 as the end of the payment pause however this date may change if the U.S. Department of Education is permitted to implement the debt relief program or the litigation is resolved before June 30, 2023. $600-$620 from 2012 until the COVID pause 4/2020. on Nov. 22, possibly until as late as August 2023, depending on the outcome of pending lawsuits. That changed during the pandemic. But it sure sounds like you are someone who should benefit from the limited waiver. For more information, please see our On both the FSA and Mohela websites it says my balance is 0. A few months later, MOHELA adjusted his payment count to 160. I am a Texas teacher who had my loans forgiven via PSLF, in addition they credited my bank account with money via the US treasury dept. So he cant get credit for the prior payments he made towards the loans. I called and they said they received it but I havent heard anything else. Neither are payments made on some. Once your loan servicer determines that youve made extra qualifying payments towards PSLF and are eligible for a refund, the money should be returned to you within 4-6 weeks. waiver if your form is later approved. Appreciate any insight has anyone else had this? The refunded payments will be sent to you using the same method that you made the payment (i.e., online payment or check). Here's how it works: Let's say you had an $8,000 balance prior to the pandemic, and paid $3,000 off since Mar. They are direct loans not the other FFEL loans. All PSLF forms will be reviewed for eligibility under both the PSLF/TEPSLF I have worked for my State Government since 1992. But they had loans made under different programs that didnt automatically qualify for PSLF cancellation. I then provide proof of employment for the waiver. Read more, Eliza Haverstock is a lead writer on NerdWallet's student loan team covering loan repayment and alternatives to traditional four-year degrees. Borrowers who asked for refunds on student loan payments they made during the pandemic pause are beginning to see checks in their mailboxes. David has worked full-time for several qualified employers since 2007. But the problem is that none of the payments borrowers made before they consolidated counted as qualifying payments for PSLF. Some, like my sister who is a social worker for the Department of Veterans Affairs, even get a refund check for overpayments in addition to full cancellation. We recommend that employees submit a PSLF form once per year. monthly payment might be lower under a traditional repayment plan. MOHELA is currently working to process the applications in a timely manner and says the process could take up to 90 days. Was on hold almost an hr. About the authors: Cecilia Clark is a student loans writer with NerdWallet, where she helps readers navigate the landscape around college finances. We will notify borrowers before payments restart. qualifying payments each time you submit a PSLF form. So looking for a suggestion. The cherry on top of this great news is that many borrowers will receive refunds for previous payments. Department of Education Servicer will take 10-12 weeks. To make this go quickly and smoothly, be prepared to provide them with the applicable payment confirmation numbers or transaction numbers. In that case, PSLF may not be right for you. Eliza Haverstock is a lead writer on NerdWallet's student loan team covering loan repayment and alternatives to traditional four-year degrees. What if the processing of my consolidation is not complete by Oct. 31, 2022? Learn More:$10,000 Student Loan Forgiveness Program. Lead Writer/Spokesperson | Education financing products, Veteran's benefits, Student and graduate finances. The Biden administration said Wednesday it will cancel up to $10,000 in federal student debt and up to $20,000 for recipients of Pell Grants. Have you recently received notification that your loans will be transferring to MOHELA? I consolidated all the loans into one Direct Loan after my second child graduated in 2015 and started making on time payments in June 2016. to get help from the Ombudsmans Student Loan Assistance Unit. For this (Its easy through your online account!) submit a PSLF form for each employer where you worked while making the required 120 qualifying monthly payments. Studentaid took a while to update and then finally showed 0. limited PSLF waiver if ED determines the employer is eligible. Those who made more than 120 payments will receive a refund for the extra payments. Although the 10-year Standard Repayment plan is eligible, if you were to stay on this plan, your loans would be paid The loans you're paying on, how you pay them, and the work you do all play a part Unfortuantely for many Parent PLUS borrowers, the news here is especially bleak. You can get a refund for any payments you make during the payment pause. pay federal income tax on the amount of your loans that is forgiven. The only borrowers eligible for a refund are those who newly qualify for PSLF under the revised rules. Not only does your place of work need to be a qualifying employer for PSLF/TEPSLF, the amount of time you work also needs to meet Additionally, Is there a statute of limitations on how long they have to say opps we messed up give us the money back?. Under the expanded eligibility, the original 60 payments now count towards PSLF. Pre-qualified offers are not binding. Manage your account on-the-go with the MOHELA App. I made monthly payments of approx. Hi Robin, I cant say for certain because I dont have your full loan information in front of me. the U.S. Department of Education (ED) completes its review of your employers eligibility, you will be notified. Many employers designate the human resources or personnel office staff as authorized officials. I took advantage of the temporary expanded PSLF by consolidating with Fed Loan Servicing and the remainder of my balance was forgiven. See important account correspondence online sooner. Temporary Expanded Public Service Loan Forgiveness (TEPSLF) We appreciate your patience during this transition period. You can visit StudentAid.gov to see a How are eligible payments and qualifying payments different? Who is getting student loan refund checks? If I was in your shoes, Id be cautiously optimistic that the debt was actually forgiven. Thanks for you thoughts and knowledge! I think I follow. This method should be used only as a last resort, says the federal student aid office. or submit a complaint directly to the FSA Ombudsman. This influences which products we write about and where and how the product appears on a page. 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