Payments during the moratorium, now eligible for reimbursement

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FORT WAYNE, Ind. (Fort Wayne’s NBC) — Many student borrowers have been making payments during the pandemic, even though they didn’t have to. Now, with the Federal Student Loan Forgiveness coming into effect, people who keep paying can get their money back.

For those who continued to repay their federal student loans throughout the moratorium, a specific statement on the Federal Student Aid website reads, “You can get a refund for any payment (including direct debit payments ) that you make during the payment break (beginning March 13, 2020). Contact your loan servicer to request a refund of your payment. »

Romeo Morris, a graduate of Morehouse College, immediately called his loan manager.

“I picked up the phone. I needed some documents that weren’t from Fed Loan, which I’ve already paid off. I started to initiate my refund and told him that I would just hold the money until the official word, “hey, we are reversing this amount for you”.

Trine University graduate Taja Keasal took the same route during the freeze, but it was not an easy choice. She loves sneakers! Keasal says she could have spent nearly $1,400 on a pair she really wanted, but she chose some financial freedom. She talks about it in her YouTube video about how she’s financially conscious while having expensive shoe taste. Click here to check it out.

“Take advantage of those loans disappearing, if that’s you. I would say have a plan to pay it back, but also have a plan for what you’re going to do with that extra income. If you’re not careful, this all can disappear. very quickly.Have a plan and pay them back diligently.

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