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New Answer: No they can't. You can get it back. I just got off the phone with someone from NEDAP who told me that student loan refunds are exempt and that there is also some law that prohibits them from taking money out of your account (something about low income) if you have less than $1700 in your account anyway that's not student loan money. Get it back. And Google NEDAP. They are extremely helpful.
Previous answer: I am in the process of researching the same question. Here is what I have deciphered. If you have judgment against you ie. creditors have taken you to court and won, they have the right to go into your bank accounts and take money. So any bank account with your name on it is fair game, even if its tied to your school in some way. Most schools offer different ways of receiving your refund. My advice would be to get it in a paper check and cash it, or deposit it into a trusted persons(parents) account and get money from then when needed. Just remember that any account with your name attached can potently be drained down to 0$.
What else can I help you with?
Can the government take inheritance to pay student loan debt?
Yes, the government can take inheritance to pay student loan debt, but this typically depends on the type of loan and the borrower's circumstances. For federal student loans, the government can garnish wages or take tax refunds, but it does not automatically seize inheritance. However, if a borrower defaults on their loans, creditors may pursue legal actions that could affect inheritance. It's important for individuals to understand their specific loan agreements and consult a financial advisor for detailed guidance.
How much can the IRS take out of a refund for a student loan payment?
If you are delinquent in your student loans to the point where your refunds are being intercepted, they can take the entire refund until the debt is satisfied.
How can a parent transfer a Parent PLUS loan into their student's name?
A parent cannot transfer a Parent PLUS loan into their student's name. The loan is the responsibility of the parent who took it out, and the student cannot take over the loan.
Who should get a debt consolidation loan?
Federal Student Loan Consolidation Program means combine all loan into a single pay. :Loan consolidation is the best for the student who not able to pay your fees. If any student want to continue their study and they want to take admission in top college for higher education but good college take high fee. But some time all student unable to pay your college fee then they take student loan. But after completion of education they are facing problem with pay your student loan then they require loan forgiveness or consolidation. Federal student loan consolidation is the best option to pay your all loan into single pay
Can the state take your federal student loan money?
The state should not usually be able to take your federal student loan money. However, there might be some particular details that will cause them to take it.
Will the IRS take your taxes for unpaid student loan?
The government can offset refunds by what it is owed...(the money would go to the student loan program).
Can the government take inheritance to pay student loan debt?
Yes, the government can take inheritance to pay student loan debt, but this typically depends on the type of loan and the borrower's circumstances. For federal student loans, the government can garnish wages or take tax refunds, but it does not automatically seize inheritance. However, if a borrower defaults on their loans, creditors may pursue legal actions that could affect inheritance. It's important for individuals to understand their specific loan agreements and consult a financial advisor for detailed guidance.
How much can the IRS take out of a refund for a student loan payment?
If you are delinquent in your student loans to the point where your refunds are being intercepted, they can take the entire refund until the debt is satisfied.
Can credit card creditors take your income tax refund?
No, neither federal nor state tax refunds are subject to creditor garnishment or seizure. Tax refunds can only be seized or garnished for, taxes that are due, child support, federally funded student loans and in some cases spousal maintenance (alimony).
How can a parent transfer a Parent PLUS loan into their student's name?
A parent cannot transfer a Parent PLUS loan into their student's name. The loan is the responsibility of the parent who took it out, and the student cannot take over the loan.
Who should get a debt consolidation loan?
Federal Student Loan Consolidation Program means combine all loan into a single pay. :Loan consolidation is the best for the student who not able to pay your fees. If any student want to continue their study and they want to take admission in top college for higher education but good college take high fee. But some time all student unable to pay your college fee then they take student loan. But after completion of education they are facing problem with pay your student loan then they require loan forgiveness or consolidation. Federal student loan consolidation is the best option to pay your all loan into single pay
What is the purpose of a student loan calculator?
A student loan calculator's purpose is to estimate the size of your monthly payments when you get a student loan. It will also help you find out how much you will end up paying in interest and how long it will take to completely repay the loan.
Can the state take your federal student loan money?
The state should not usually be able to take your federal student loan money. However, there might be some particular details that will cause them to take it.
Can social security take your check if you are a co-signer on a student loan?
If you are on social security you should not be cosigning on a student loan. You would be guaranteeing that if the student doesn't pay off the loan you will. The federal government can garnish your social security benefits to recover student loan payments.
How do I take out a government loan?
If you want to take out a government loan for education, you need to go through student aid. Most colleges have student aid that will help their students get started. You can also go to the loan lender independently.
If you take out a student loan or get a federal loan for school can child support take that money or some of that money?
nosee link
Can your student loan take your federal tax refund?
YES
