Student Loan Refunds Are Real, But You Might Not Be Eligible

Since President Biden announced student loan debt relief, there has been a lot of talk about student loan refunds, which surprisingly have been around for a little while.

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With all the talk about President Biden’s student loan forgiveness, you may be hearing about other ways to potentially maximize your student loan debt relief. One idea involves requesting a refund of student loan payments made during the pandemic pause. The Department of Education has said that some borrowers may receive "automatic" student loan refunds, while others will not. And it is also important to know that not everyone is eligible for a student loan refund.

So, here’s a little information about how student loan refunds work—which hopefully can help you determine whether requesting a refund is right for you.

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Kelley R. Taylor
Senior Tax Editor, Kiplinger.com

As the senior tax editor at Kiplinger.com, Kelley R. Taylor simplifies federal and state tax information, news, and developments to help empower readers. Kelley has over two decades of experience advising on and covering education, law, finance, and tax as a corporate attorney and business journalist.