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Sympthsical

(10,734 posts)

5. For people who made payments during the Covid pause

Reply to MichMan (Original post)

Fri Oct 28, 2022, 06:18 AM

Oct 2022

So, say you had a $10,000 loan at the time the Covid pause came into effect, and you kept making payments and paid it down to $9,000 during the pause.

If you're eligible for $10,000 forgiveness, you'd get a $1,000 rebate check for what you paid during the pandemic.

It's a somewhat narrow band of people.

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Highlight:

Biden Predicts Student Loan Relief Checks Within Two Weeks [View all] MichMan Oct 2022 OP

How Many Folks Will Spend Some or All of the Money on Something Else? Probably Most of Them Indykatie Oct 2022 #1

Neither his statement nor this article implies that at all underpants Oct 2022 #4

I didnt see where the article stated that it was going to the providers MichMan Oct 2022 #10

All he said was that the checks would be going out underpants Oct 2022 #16

It's a rebate for payments made during the pandemic Sympthsical Oct 2022 #6

I highly doubt they will send 10 to 20 thousand usd cheques out that are payable to the borrowers. Celerity Oct 2022 #2

"Of course I'm using my Pell Grant for school!" Sympthsical Oct 2022 #8

I bet they are thinking they were pretty smart now. MichMan Oct 2022 #12

It has to be paid back if you drop out Sympthsical Oct 2022 #14

I thought you were referring to a loan MichMan Oct 2022 #15

Funds go to loan providers Sienna86 Oct 2022 #3

For people who made payments during the Covid pause Sympthsical Oct 2022 #5

Tell us you're mad RandiFan1290 Oct 2022 #7

I'm not sure why you think payment would go to the borrower instead of the lender. sl8 Oct 2022 #9

Yes the specific usage of the term check made it confusing who was getting them since it never said. MichMan Oct 2022 #11

I believe he was using "checks" as a synonym for "payments" sl8 Oct 2022 #13