Many borrowers to receive automatic refunds for student loan payments during pandemic debt paus...

Many borrowers to receive automatic refunds for student loan payments during pandemic debt pause

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The Facts Inside Our Reporter’s Notebook Many borrowers who made student loan payments after March 2020, when a pandemic debt moratorium began, can expect to receive refunds "automatically" under President Biden's nearly $380 billion student debt forgiveness program.
According to updated guidelines for borrowers released by the Department of Education:
"You will automatically receive a refund of your payments during the payment pause if: you successfully apply for and receive debt relief under the Administration's debt relief plan, AND
your voluntary payments during the payment pause brought your balance below the maximum debt relief amount you're eligible to receive but...
Source: https://justthenews.com/government/federal-agencies/many-borrowers-will-receive-automatic-refunds-pandemic-student-loan?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators