Yes, that’s right. You’re required to repay everything you received, even if you never received the grant in the first place. In the case of the EITC, this was a requirement even though it was initially waived.
Do you have to repay my loans?
Yes. For student loans, the repayment rules are the same, though they are a bit more lenient. The way that loans are repaid depend on where the loans are originating from. Loans that are originating from a school or vocational school that is accredited by the NAIC, or those from a government agency that is accredited by the Higher Learning Commission and has a contract of participation with the school(s), are eligible for a maximum of five-year repayment of the loan. Lenders who originate loans from a federal, state, or private lender are prohibited from taking a short-term interest rate reduction.
Is it possible to get an account with the Federal Student Aid office if my loans are originating from outside of the country?
Yes, but you will need to get permission from your school to use FAFSA. You can check your loan’s status by logging into myFSA.gov and clicking through to Student Loan Data.
The FAFSA website has a search function that can help you search for information that might help to determine your eligibility for aid. The search function allows you to filter the result to show only those individuals on your credit report with whom you are not currently in a financial relationship. You can also search by name or date of birth.
How do I determine whether I was approved for benefits within a certain period of time?
Your first step is to determine your eligibility for aid. The aid you receive may include money for tuition expenses, books, supplies, and other costs. A period of inactivity from the date of the student’s enrollment until the date of aid disbursement will usually result in the cancellation of any grant/loan.
To confirm that you were approved by your school(s) and school(s) of which you are not currently enrolled, check your FAFSA information.
What is the student loan payoff period (POP)?
The “POP” period is the end of your time in repayment. If you have a loan that was not originated from your school, it will appear next to “Not Forlorn”. The POP period starts upon a student’s receipt of their first payment for a loan on their behalf.