student loan offset partial or complete? please ANSWER person with offset inpast

[manny]

does anybody know if student loan offset come completely off your refund or is a partial payment becausei just realize this yr when i called the number i have a student loan offset from 2012….I wanna know from anybody that hadd offset is it a for sure thing just so i dont make plans with the money

[Bryanne]

Is there a number to call to see if you do have an offset amount?

[Matt]

They will take the entire amount of what is owed. If you owe $10,000 and your refund is $8,000 (for example), you will get $0 back from your refund and still owe $2,000.

Or, for example, if you owe them $6,000 and your refund is $8,000, you will receive $2,000 back.

There is no payment plan. They take every penny they are owed. The only way around this is setting up a payment plan with the federal agency you owe BEFORE filing your taxes. Sorry if this is bad news.

[Vianca Ruiz]

I called the Department of Education student loan forgiveness like to try and see if it was possible to set up a payment plan or file for a hardship for the 2016 tax season. While I was talking to the representative, I was told that all my debt was paid off. I went online to check my credit and saw that all my student loans have a 0 balance. But it also states that the loans were transferred to the government and had no late payments to date. I also checked the refund website and it stated that my refund is due to be in my account any day now, and then I saw the “please read tax topic 203,” after that. If reading correctly, it may be something that is POSSIBLY sent to everyone. I’m keeping my fingers crossed because I really need the money for repairs on my vehicle. Gonna keep my fingers crossed and will post if I get my refund!!

[tami]

I was offset for the remaining balance of my school loan and it says “dated Feb 22” I’m getting the rest of my refund back. I filed Jan 18th and it’s Feb 18th now. Does that mean I’ll have it Feb 22nd?

[Sarahdactyl]

Hey Manny,

I defaulted on my student loan and got the dreaded offset letter before the 2015 tax season. Last year they took the whole amount of my refund because it was less than the balance due. This year (2016 season) they took the remaining balance of the loan, but I still got about 1/4 of my refund back. Basically it depends on how much you owe vs how much your refund is.

Say you owe $5,500 on your loan. If your refund is $3500, you’ll get it all taken and still owe $2000. But if your refund is for $7000, you’ll get $1500 back.

Also, if you still owe after they offset you, they’ll offset you again next year. Just a heads up.

Hope this helps!

[Kit0kat2009]

Im interested also

My loans were transferred to a new collection agency 1/03/16. They were transferred to government agency..
They are still open and it says no missed payments on the transfer

I found all that on my credit report.. They did not inform me of this debt being transferred or about establishing a payment.

Worried it may affect refund.. I was going to call Monday to set up payment plan..

Called offset line and it says nothing.. No offsets.. Still worried they might show up..

Any advice or experience would be great..

[Author]

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