Recharge Processing Solutions

Recharge Processing Solutions

We offer refund assistance and loan forgiveness through the department of education to assist student borrowers with student loans to receive a refund or forgiveness through your current loan servicer.

First we check your eligibility since not all loans qualify. We provide a free evaluation to determine if your loans are eligible to receive the refund. During this evaluation we find out if your loans are eligible. Not all loans qualify.

The following loans are ineligible for student loan forgiveness, meaning that they are also ineligible for a refund:

However the way the program works is quite confusing. We are Recharge Processing Solutions a debt assistance service therefore we assist student borrowers to take advantage of these government programs in essence to recharge their student loans. As your liaison we work directly with your loan servicer’s under their guidelines to ensure your success.

If you paid off your entire student loan balance on or after March 13, 2020, we will contact your loan servicer to request a refund on any qualifying payments, as long as they were for one or more of the following types of loans that are eligible for student loan forgiveness:

All direct loans-  subsidized, or unsubsidized, parent plus loans, consolidation loans even if you’ve defaulted

For example if you paid off your federal student loans during the pandemic pause you are entitled to a refund. We assist student borrowers with this process by working with your loan servicer on your behalf. We specialize in handling these cases which can take up valuable time waiting on hold and staying on top of the process which can be time consuming.

The new plan outlined by President Biden will forgive up to $20,000 in student loan debt for Pell Grant recipients. To qualify, your annual earnings must be no greater than $125,000 ($250,000 for married couples). Non-Pell Grant recipients who meet this same eligibility requirement could receive up to $10,000 in debt relief.

Nearly every type of federal student loan qualifies for forgiveness, including all direct loans, all Federal Family Education Loan (FFEL) Program loans held by the U.S. Department of Education, defaulted FFEL Program loans not held by the Education Department, federal Perkins loans held by the Education Department, and defaulted Health Education Assistance Loans (HEALs). However, in addition to private student loans, all federal Perkins loans not held by the Education Department, FFEL Program loans not held by the Education Department, and HEALs are ineligible for debt relief.