Woman's student loan cancellation means Biden admin actually owes her money

U.S. President Joe Biden speaks about student loan forgiveness at the White House, on June 30, 2023, with Education Secretary Miguel Cardona. Borrowers who made more payments than required are being refunded by the federal government.that she was financially on her own when she started college in 1993 and borrowed money to pay for housing, tuition and books. She also got a job so she would have health insurance.

But after a mix-up involving her student loan payments in which a decade's worth of her payments seemingly disappeared without record, she was still paying down debts 25 years post-graduation. She ended up paying about $70,000 worth of payments on a $40,000 loan. But now she is done for good on payments and will receive a refund from the federal government.

StudentAid.gov, which offers assistance to borrowers on federal financial aid for college, states that those who pay more months than required as part of their loan repayment automatically qualify for forgiveness.

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