Comments on: The End Of The Student Loan Double-Consolidation Loophole https://thecollegeinvestor.com/43530/student-loan-double-consolidation-loophole/ Navigating Money And Education Tue, 09 Apr 2024 20:43:47 +0000 hourly 1 By: Rick https://thecollegeinvestor.com/43530/student-loan-double-consolidation-loophole/#comment-479918 Tue, 09 Apr 2024 20:43:47 +0000 https://thecollegeinvestor.com/?p=43530#comment-479918 I have a few questions about the double consolidation loophole. I currently have multiple direct Stafford loans which are on a IDR plan and I’m a public service employee under the PSLF program and I currently have 110 qualifying payments on those accounts.

I also have 3 parent plus loans that I would like to consolidate. I haven’t made any qualifying payments on the parent plus loans. I was wondering if I could use the double loophole and the one time account adjustment. Would I lose the 110 qualifying payments on the new consolidated loan or would those payments carryover to my new loan?

]]> By: Robert Farrington https://thecollegeinvestor.com/43530/student-loan-double-consolidation-loophole/#comment-479906 Mon, 08 Apr 2024 15:16:53 +0000 https://thecollegeinvestor.com/?p=43530#comment-479906 In reply to Robin.

Yes, you can search for student loan lawyers and you’ll find a handful.

]]> By: Robin https://thecollegeinvestor.com/43530/student-loan-double-consolidation-loophole/#comment-479900 Sun, 07 Apr 2024 21:36:58 +0000 https://thecollegeinvestor.com/?p=43530#comment-479900 Are there any lawyers who can help with the double loan consolidation with parent plus loans

]]> By: Robert Farrington https://thecollegeinvestor.com/43530/student-loan-double-consolidation-loophole/#comment-479889 Sun, 07 Apr 2024 16:20:55 +0000 https://thecollegeinvestor.com/?p=43530#comment-479889 In reply to Kathy Swatkowski.

If you have an FFEL loan that would otherwise qualify for PSLF, you need to consolidate by April 30, 2024 in order to get the one-time adjustment and get the PSLF credits. This is different than a double-consolidation, which is for Parent PLUS Loans.

]]> By: Kathy Swatkowski https://thecollegeinvestor.com/43530/student-loan-double-consolidation-loophole/#comment-479878 Sat, 06 Apr 2024 22:10:44 +0000 https://thecollegeinvestor.com/?p=43530#comment-479878 I work in the public health sector. If I do a double consolidation of Parent Plus loans would the pandemic forbearance and payments I have already made qualify for the 120 payments for PSLF program? If so, is the deadline to get this done April 30 or July 1, 2024?

]]>