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Mic B
Mic B asked in Business & FinanceTaxesUnited States · 1 decade ago

You will not receive the Stimulus Rebate if you have a student loan!?

I just got off the phone with the IRS! Even if it's not in default, your stimulus money will go towards your loan! That's most of the country! Plus with all the interest and the length of the student loan, you might as well say that they didn't give us nothing at all! Why didn't ANY news media catch this!? I guess Bush said "April FOOLS"!

Update:

Q. The notice I received shows that I should have gotten more than the government actually deposited into my bank account. Did something go wrong?

A. It could be that the amount deposited into your bank account was what remained of your stimulus payment after it was offset for money you owed on back taxes or other debts such as a student loan or child support. If this is the case, you’ll receive an additional notice, providing details on the offset.

http://www.irs.gov/newsroom/article/0,,id=181991,0...

Update 2:

I just got off the phone with an IRS rep. I hope she was mistaken.

7 Answers

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  • Shadow Kat
    Lv 6
    1 decade ago
    Favorite Answer

    Only if your loan has been offset by the IRS, which if it were the person had plenty of warning it would happen before it did, offsetting happens after a loan goes into default for a significant amount of time.

    If your loan is in good standing you have no worries

    you can call the irs and ask for the loan offset department and ask them if your loan is there.

  • becca
    1 decade ago

    Are you sure? I'm paying of my student loan in that is in good standing. I thought they would only keep it if there is an offset such as deferred student loans, child support or back taxes. It seems they would have kept my tax refund if this were the case. I've heard that the rebate has the same guidelines as the refunds-only if it's offset. I hope this isn't true.

  • Beverly S
    Lv 7
    1 decade ago

    My daughter has a student loan in good standing & she received her stimulas check on Tues. Maybe whoever you spoke with at IRS misunderstood & thought you said defaulted student loan.

  • Judy
    Lv 7
    1 decade ago

    That's not even true - you must have misunderstood,. If you have a DEFAULTED student loan your stimulus payment will go toward that.

    The media didn't report it because it's totally false.

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  • Carolyn D
    Lv 5
    1 decade ago

    I don't believe this is accurate. I believe this only applies to people who have defaulted on their loans. Where did you get your information?

  • Ms.Lincy
    Lv 4
    1 decade ago

    That is weird...I am paying off my student loans as well and i still recieved my rebate.

  • Anonymous
    1 decade ago

    OMG! It better not be.. that is not cool.

    DAMN YOU BUSH! Don't you know us college students are poor!! :(

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