Loan forgiveness and Pell grant

[Vandervecken]

Hello all!  This takes a moment to explain...

I'm looking at student loan forgiveness rules, and (as of now) a borrower may get $10k forgiveness, plus an additional $10k if the borrower has ever received a Pell grant.  The dates of the Pell grant are not specified in the loan forgiveness rules; in other words the loan and the Pell do not have to cover the same period.  And so far, I haven't found any rule that states how far apart the Pell grant and loan has to be. Also, there doesn't seem to be rules stating "Pell grant for under grad and loan for grad school are not combined".  This is of interest to me because I received a Pell grant for my bachelors degree, and I have student loans for my master's degree. 

However, there are complications:

• Complication #1: my Pell grant was in 1986 and my student loans are from two years ago.  Yes, over 30 years apart.
• Complication #2: studentaid.gov doesn't show my 1986 Pell grant.  I called my undergrad college and they don't have financial records going back 35 years.  Neither do I.

So yeah, I probably won't get the second $10k forgiveness but I'm not giving up yet.  So I thought I'd post this for thoughts and ideas.  I'm trying to find actual source of rules, and ideas on how to get studentaid.gov to update.

Any thoughts or ideas?  Thanks!!!

[pizzadude]

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@Vandervecken wrote:

Hello all!  This takes a moment to explain...

I'm looking at student loan forgiveness rules, and (as of now) a borrower may get $10k forgiveness, plus an additional $10k if the borrower has ever received a Pell grant.  The dates of the Pell grant are not specified in the loan forgiveness rules; in other words the loan and the Pell do not have to cover the same period.  And so far, I haven't found any rule that states how far apart the Pell grant and loan has to be. Also, there doesn't seem to be rules stating "Pell grant for under grad and loan for grad school are not combined".  This is of interest to me because I received a Pell grant for my bachelors degree, and I have student loans for my master's degree. 

However, there are complications:

• Complication #1: my Pell grant was in 1986 and my student loans are from two years ago.  Yes, over 30 years apart.
• Complication #2: studentaid.gov doesn't show my 1986 Pell grant.  I called my undergrad college and they don't have financial records going back 35 years.  Neither do I.

So yeah, I probably won't get the second $10k forgiveness but I'm not giving up yet.  So I thought I'd post this for thoughts and ideas.  I'm trying to find actual source of rules, and ideas on how to get studentaid.gov to update.

Any thoughts or ideas?  Thanks!!!

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This link has some information and FAQs that might be helpful:   https://studentaid.gov/debt-relief-announcement/one-time-cancellation

When you apply for debt relief, we'll make sure all borrowers who received a Pell Grant receive the full benefit of up to $20,000 in relief if they meet the income requirements. ED has data on all borrowers who received a Pell Grant. If you received a Pell Grant prior to 1994, that information won't display in StudentAid.gov, but you'll still receive the full benefit.

[Vandervecken]

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@pizzadude wrote:

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This link has some information and FAQs that might be helpful:   https://studentaid.gov/debt-relief-announcement/one-time-cancellation

When you apply for debt relief, we'll make sure all borrowers who received a Pell Grant receive the full benefit of up to $20,000 in relief if they meet the income requirements. ED has data on all borrowers who received a Pell Grant. If you received a Pell Grant prior to 1994, that information won't display in StudentAid.gov, but you'll still receive the full benefit.

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Thank you, that's fantastic news for me!

[pizzadude]

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@Vandervecken wrote:

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@pizzadude wrote:

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This link has some information and FAQs that might be helpful:   https://studentaid.gov/debt-relief-announcement/one-time-cancellation

When you apply for debt relief, we'll make sure all borrowers who received a Pell Grant receive the full benefit of up to $20,000 in relief if they meet the income requirements. ED has data on all borrowers who received a Pell Grant. If you received a Pell Grant prior to 1994, that information won't display in StudentAid.gov, but you'll still receive the full benefit.

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Thank you, that's fantastic news for me!

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Yeah it sounds like you'd be good for the full $20K forgiveness, I don't see any caveat or restriction mentioned on a time gap between a pell grant and other loans.