1150.24—Under what conditions will the Endowment make a refund of amounts collected by salary offset?
(a)
If the Endowment is the creditor agency, it will promptly refund any amount deducted under the authority of 5 U.S.C. 5514, when:
(1)
The debt is waived or all or part of the funds deducted are otherwise found not to be owed (unless expressly prohibited by statute or regulation); or
(b)
Unless required or permitted by law or contract, refunds under this section will not bear interest.