Refunds Available For Student Loans In New York State

The fall is here and it is back to school time! For some, that means back to the routine of college classes and for parents, the question of "how are we going to pay for this"? But the anxiety of student loans doesn't stop when the school year ends and there has been plenty of discussion about federal loans and if you will get any money back?

There are loud voices and opinions on both sides of the federal student debt issue. There are some who are saying that the federal government should NOT forgive any loans and the other side is calling for complete loan forgiveness.

Since the end of the pandemic, there are some that say they deserve a refund for the payments that they made over the last two-plus years. The truth is, there may be a BIG refund coming your way for your payments on federal student loans.

CNet.com reports that:

Borrowers can actually request a refund of any payments made on student loans since the loan forbearance began on March 13, 2020, according to the Federal Office of Student Aid. Your pre-pandemic amount would then be eligible for the new cancellation plan, up to $10,000 in debt cancellation ($20,000 for Pell Grant recipients).

Contact your loan provider for more information.