My 20+ year old student loan was forgiven last week but I have made payments through the pandemic so I am wondering if I am entitled to any reimbursement being that I wasn’t employed in public service but fell under the lesser known Federal Student Aid 20-year default non-public service forgiveness. The reconsideration of my payment type as all IDR qualified me for forgiveness I believe. I just wonder if Ed Financial will reimburse those Covid time payments? I’m not exactly sure when the 240th payment was made; and I recently got info from them explaining their system was transitioned into a new one that requires a new login. I hope I can setup an account and see my payment history or I’m SOL on the reimbursement if it’s available?
Hi @mr.bchick3838 - As far as I know, if the balance was already forgiven they don't tend to give reimbursements BUT I'd go with the Wayne Gretzky idea that you miss 100% of the shots you don't take: figure out how much you paid during the covid pause, call your servicer and ask them if you can get it reimbursed AND still qualify for the 20 year forgiveness recount. Also, you may be able to get your count at studentaid.gov if it's not on Ed Financial. If worst comes to worst, you don't get the payments back and that wouldn't be fun - - but big picture, you also don't have the payments anymore, so, yay! Good luck and let me know how it goes! -k
Is it possible to request payments back if you changed servicer following those payments? I.e. Payments were made in 2020 and 2021, then switched from a servicer to Mohela?
Hi @KingBobDB - I don’t know all the details of your loans but for most scenarios that shouldn’t keep you from getting the refund, I’d call Mohela and ask them (1-888-866-4352). Good luck, thanks for watching, and let me know how it goes! -k
Hello @Hedrax_SoldierifCHRISTfire - contact your student loan servicer. If you don’t know who has that is, you can find out by logging into studentaid.gov/ Good luck and thanks for watching! -K
Thanks for the info!!! I've just been confirmed for overpayment under PSLF, but I also consolidated during the loan pause. . . Should I request a refund for those consolidated payments that were made during the pause? Thanks 🫨 this stuff makes my head spin
Hi @Dually - this stuff is genuinely confusing, you are not the only one whose head is spinning trying to figure it out. When it comes to consolidation, there are a lot of intersecting rules concerning PSLF, what type of loans you consolidated, and when. Here's a good article that explains the ins and outs for you: www.consumerfinance.gov/ask-cfpb/should-i-consolidate-my-federal-loans-en-603/ It's pretty much always a good idea to put in the PSLF applciation at studentaid.gov/pslf/ to get an *official* PSLF payment count. I think your best bet is to call either your student loan servicer or the Department of Education and 1. see if payments made before consolidation count towards your 120 PSLF months and 2. ask them if you were to request those payments back would those months still count towards your 120 PSLF payments? Thanks for watching and let me know how it goes! -k
I ❤you Ms. Moody Money, because of you I got my student loan forgiven. I followed the directions in your previous videos and it paid off. I’m wondering if it would be greedy of me to ask for a refund now? 😂😂😂
Hi @miss_priss - YAAAAYYY! I’m so happy I was able to help - congrats on getting your loans paid off!! 🎊🥳🎉 You might as well call and ask about the refund, let me know what they say!! Best, -k
Thank you so much! I got my refund check today. Requested on May 26. 😘
Hi @MyMelanin 🥳🎉 YAAAY! Thanks for letting me know and thanks for watching! -k
My 20+ year old student loan was forgiven last week but I have made payments through the pandemic so I am wondering if I am entitled to any reimbursement being that I wasn’t employed in public service but fell under the lesser known Federal Student Aid 20-year default non-public service forgiveness. The reconsideration of my payment type as all IDR qualified me for forgiveness I believe. I just wonder if Ed Financial will reimburse those Covid time payments? I’m not exactly sure when the 240th payment was made; and I recently got info from them explaining their system was transitioned into a new one that requires a new login. I hope I can setup an account and see my payment history or I’m SOL on the reimbursement if it’s available?
Hi @mr.bchick3838 - As far as I know, if the balance was already forgiven they don't tend to give reimbursements BUT I'd go with the Wayne Gretzky idea that you miss 100% of the shots you don't take: figure out how much you paid during the covid pause, call your servicer and ask them if you can get it reimbursed AND still qualify for the 20 year forgiveness recount.
Also, you may be able to get your count at studentaid.gov if it's not on Ed Financial.
If worst comes to worst, you don't get the payments back and that wouldn't be fun - - but big picture, you also don't have the payments anymore, so, yay!
Good luck and let me know how it goes! -k
And now those refunds we have to pay back with interest 😢
Hi @GoldLove21 - as always, personal finance is personal and what’s best for one person may not be a good idea for others. Thanks for watching -k
Is this option still relevant or no longer available?
Hi! Unfortunately I think this has timed out but you can call the dept of Ed and ask them about your options.
Thanks for watching! -k
Is it possible to request payments back if you changed servicer following those payments? I.e. Payments were made in 2020 and 2021, then switched from a servicer to Mohela?
Hi @KingBobDB - I don’t know all the details of your loans but for most scenarios that shouldn’t keep you from getting the refund, I’d call Mohela and ask them (1-888-866-4352). Good luck, thanks for watching, and let me know how it goes! -k
Great info what number should i call to get my refund back?
Hello @Hedrax_SoldierifCHRISTfire - contact your student loan servicer. If you don’t know who has that is, you can find out by logging into studentaid.gov/
Good luck and thanks for watching! -K
@@themoneylibrarian Thanks I appreciate it
I know it seems to good to be true - but it is! If you're going to be asking for a refund, what will you do with the money?
Thanks for the info!!!
I've just been confirmed for overpayment under PSLF, but I also consolidated during the loan pause. . .
Should I request a refund for those consolidated payments that were made during the pause?
Thanks 🫨 this stuff makes my head spin
Hi @Dually - this stuff is genuinely confusing, you are not the only one whose head is spinning trying to figure it out. When it comes to consolidation, there are a lot of intersecting rules concerning PSLF, what type of loans you consolidated, and when.
Here's a good article that explains the ins and outs for you: www.consumerfinance.gov/ask-cfpb/should-i-consolidate-my-federal-loans-en-603/
It's pretty much always a good idea to put in the PSLF applciation at studentaid.gov/pslf/ to get an *official* PSLF payment count.
I think your best bet is to call either your student loan servicer or the Department of Education and 1. see if payments made before consolidation count towards your 120 PSLF months and 2. ask them if you were to request those payments back would those months still count towards your 120 PSLF payments?
Thanks for watching and let me know how it goes! -k
I ❤you Ms. Moody Money, because of you I got my student loan forgiven. I followed the directions in your previous videos and it paid off. I’m wondering if it would be greedy of me to ask for a refund now? 😂😂😂
Hi @miss_priss - YAAAAYYY! I’m so happy I was able to help - congrats on getting your loans paid off!! 🎊🥳🎉 You might as well call and ask about the refund, let me know what they say!! Best, -k