美国国家公共电台 NPR--Upcoming dates and info you need to know for student loan forgiveness

Upcoming dates and info you need to know for student loan forgiveness

Transcript¹

President Biden laid out a sweeping² plan in August to cancel up to $20,000 in federal student loan debt per borrower. To get that maximum, individuals must earn less than $125,000 a year, or less than $250,000 a year for couples, and must have received a Pell Grant in college. Non-Pell borrowers who meet those income requirements qualify for $10,000 of forgiveness.

Beneath this seemingly straightforward³ plan, though, is a mountain of uncertainty⁴ about how, exactly, it will work. Naturally, borrowers have questions. Here are the answers we know so far:

1. Do I have to submit an application for loan forgiveness?

Most likely, yes. Those income rules we mentioned will require most borrowers to verify their income with the U.S. Department of Education. About 8 million people already have income information on file with the department; they should qualify to have their debts canceled automatically. But everyone else will have to submit an application to be considered.

The Education Department says that application will be available in early October and will take 4-6 weeks to process. Borrowers can sign up for email updates here.

There isn't currently a deadline to apply for forgiveness, but the administration recommends submitting applications before Nov. 15. That way the department has more time to process millions of applications before the student loan payment pause ends on Dec. 31.

2. What kinds of loans are included in Biden's forgiveness plan?

Undergraduate loans, graduate loans and Parent PLUS loans managed by the Department of Education are all eligible⁵. Biden's plan only applies to federal student loans, though; private student loans are not eligible for forgiveness, even if they began as federal loans. If you're unsure what type of loans you have, contact your loan servicer.

3. My income fluctuated a lot during the pandemic. Which income year should I look at to see if I qualify for forgiveness?

According to a senior White House official, a borrower's income from either 2020 or 2021 must meet the loan forgiveness income requirements (less than $125,000 a year for an individual, or less than $250,000 a year for couples) in order for that borrower to qualify for loan forgiveness. More information on how to document your income will be available in the coming weeks.

4. Why does everyone keep saying "up to" $10,000 or $20,000?

You may have noticed in our coverage⁶ we always say borrowers are eligible for "up to" $10,000 or $20,000 of forgiveness. This language comes directly from the Education Department, and it's less confusing than it may sound.

Basically, if you owe $7,000 in student loans and qualify for $10,000 in forgiveness, you'll get all $7,000 erased⁷, but that extra $3,000 won't be going into your pocket. That stays with the federal government.

One thing to keep in mind: If you made loan payments during the pandemic pause, and your loan balance is now below the baseline $10,000 or $20,000 for Pell recipients⁸, you may want to ask for a refund⁹ so you can take advantage of the full forgiveness amount. More on that below.

5. I kept paying off my student loans during the payment pause. Can I get that money back and have more of my loans forgiven?

The short answer is yes. Many borrowers kept paying off their federal student loans during the payment pause because, with interest also paused, it was the perfect time to reduce their debts. These borrowers need not worry: They can still benefit from Biden's new loan cancellation¹⁰ plan, even if they paid off their student loans during the pause.

According to the Education Department's office of Federal Student Aid, "You can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020). Contact your loan servicer to request that your payment be refunded¹¹."

Just remember, it will be a process, and you should make sure you qualify for some level of cancellation, either the baseline $10,000 or the $20,000 for Pell recipients, before requesting your refund. Once the refund is issued, your student loan balance will increase by the value of the refund. For example: Say you currently owe $7,000, after paying $2,000 during the moratorium¹². Once you receive your $2,000 refund, your balance will grow to $9,000. Your next step, then, will be requesting cancellation for that new total under Biden's plan.

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 sweeping   

adj.范围广大的，一扫无遗的

参考例句：

• The citizens voted for sweeping reforms.公民投票支持全面的改革。
• Can you hear the wind sweeping through the branches?你能听到风掠过树枝的声音吗？

3 straightforward   

adj.正直的，坦率的；易懂的，简单的

参考例句：

• A straightforward talk is better than a flowery speech.巧言不如直说。
• I must insist on your giving me a straightforward answer.我一定要你给我一个直截了当的回答。

4 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

5 eligible   

adj.有条件被选中的；(尤指婚姻等)合适(意)的

参考例句：

• He is an eligible young man.他是一个合格的年轻人。
• Helen married an eligible bachelor.海伦嫁给了一个中意的单身汉。

6 coverage   

n.报导，保险范围，保险额，范围，覆盖

参考例句：

• There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
• This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。

7 erased   

v.擦掉( erase的过去式和过去分词 )；抹去；清除

参考例句：

• He erased the wrong answer and wrote in the right one. 他擦去了错误答案，写上了正确答案。 来自《简明英汉词典》
• He removed the dogmatism from politics; he erased the party line. 他根除了政治中的教条主义，消除了政党界限。 来自《简明英汉词典》

8 recipients   

adj.接受的；受领的；容纳的；愿意接受的n.收件人；接受者；受领者；接受器

参考例句：

• The recipients of the prizes had their names printed in the paper. 获奖者的姓名登在报上。 来自《简明英汉词典》
• The recipients of prizes had their names printed in the paper. 获奖者名单登在报上。 来自《现代英汉综合大词典》

9 refund   

v.退还，偿还；n.归还，偿还额，退款

参考例句：

• They demand a refund on unsatisfactory goods.他们对不满意的货品要求退款。
• We'll refund your money if you aren't satisfied.你若不满意，我们愿意退款给你。

10 cancellation   

n.删除，取消

参考例句：

• Heavy seas can cause cancellation of ferry services.海上风浪太大，可能须要取消渡轮服务。
• Her cancellation of her trip to Paris upset our plan.她取消了巴黎之行打乱了我们的计划。

11 refunded   

v.归还，退还( refund的过去式和过去分词 )

参考例句：

• Postage costs will be refunded (to you). 邮费将退还（给你）。 来自辞典例句
• Yes, it will be refunded to you at the expiration of the lease. 是的，租约期满时，押金退回。 来自无师自通 校园英语会话

12 moratorium   

n.(行动、活动的)暂停(期)，延期偿付

参考例句：

• The government has called for a moratorium on weapons testing.政府已要求暂停武器试验。
• We recommended a moratorium on two particular kinds of experiments.我们建议暂禁两种特殊的实验。