Q&A of the Week October 19, 2022

Question:

I made voluntary payments to my student loan during the pandemic. Am I still eligible for student loan debt relief?

Answer:

If you are eligible for student loan debt relief and you made voluntary payments during the "payment pause" of the pandemic, you will automatically receive a refund if:

1. You apply for and receive debt relief under the debt relief plan.

2. Your voluntary payments brought your balance below the maximum debt relief amount you are eligible to receive but did not pay off your loan in full.

You are eligible for student loan debt relief if:

- Your annual federal income was below $150,000 in 2020 or 2021 and you filed your taxes as an individual or married filing separately.

OR

- Your annual federal income was below $250,000 in 2020 or 2021 and you filed your taxes as married filing jointly or head of household.