Parent PLUS Double Consolidation Loophole | Pay 10% of Your Income Instead of 20%

[@xladylilithx]

I have just been approved for the SAVE plan after successfully completing the double consolidation process. I cannot say enough good things about the beautiful people on this site. Your calm, clear, concise and reassuring directions brought me through a very stressful time. You are helping so many and deserve high praise for your efforts. Thank you!! ❤

[@pdf6507]

Hi can you tell me if you sent a paper plan and when and to who? EF is giving me the run around. Saying they can no longer process paper applications for repayment plans (the final step) as of March 1st. They say it can only be done online at student aid.

[@KMarieLaVigna]

that is great! i just recd my final consolidation. getting ready to do the save app--how did you apply for save? paper app mailing in or faxing in?

[@chrislabish]

@@KMarieLaVigna I uploaded pictures of a paper application, including my 1040 tax form. I believe the loan servicers have that option, I did mine with Mohela.

[@KMarieLaVigna]

@@chrislabish i just did the same yesterday, uploaded the paper app to mohela! And i included page 1 from my 1040 tax form. Fingers crossed mine goes as smoothly as yoursl!! How long did it take mohela to finalize it for you?

[@chrislabish]

@@KMarieLaVigna It wasn't real smooth. It took over two months after submitting the application because they wouldn't approve SAVE at first, and put me on a traditional IDR plan with super high payments. I had to insist that I qualified for SAVE. After talking to a supervisor, who agreed I was eligible, it took another month and three more phone calls:( Bottom line: Don't give up, don't get discouraged, and advocate for yourself! Be polite but firm. Hope all goes well.

[@MikeIsherwood]

Did everything from your video, took 3 months but it worked. Wonderful daughter dropped a $125.000.00 loan in my lap great kid.Loans started out at $1149.36 after 4 were consolidated into 2. then became 1 loan payment went to $852.00, then the loophole just like you said now ICB $148.52.Quite a bit of paperwork and a few phone calls after reclassification, but it works. Amazing information, followed your information to the T and it actually worked. Thank You, 4 loans into 1 and it's like magic. Thanks Again

[@Mark-vk8jl]

Great video and detailed instructions. I followed the instructions exactly and my payments went from $600 to $0!!!! It is definitely a process but well worth it!! I started the application process in December 2023 and got notice yesterday I was approved for SAVE. Thank you very much!

[@katherinecoronado2416]

Who do you send the SAVE application form to after both consolidations are done?

[@phildittrich4361]

Perfect timing. I was in the final step of this last night, doing the last online consolidation step, and noticed the new website was different, didn’t allow the SAVE plan.. was panicked 😱. Decided to pause my progress and check back with y’all. Glad to know you’re already aware & that we can continue to count on your team to teach us moving forward :) Thx again from Detroit

[@nassimagahrules]

did you figure it out? it still doesn't let me choose SAVE

[@rickmooney5931]

She's saying send the paper one for repayment plan

[@phildittrich4361]

29:08 is the final step online. No I didn’t get to that one yet. What I did was really a bandaid, so criticize / improve as you see fit, but I paid a nelnet late fee to get in good standing, and then submitted request to them for ICR plan. I thought it already was ICR, and now it is. No payments (my parents are broke :/ ). The other servicer has one ICR consolidation loan as well. I figure for now, that gets me into good standing for the year, and then, since everything changes weekly, I have roughly 6-8 months to do the final step. No rush. If you are just starting out tho, be sure to give yourself six months! And good luck! Keep us posted

[@phildittrich4361]

Update. I’m still waiting things out for now, haven’t done final consolidation yet (have one at aid and one at nelnet. Deadline end of year). Anyways My parents went from monthly payments of $750+ they cannot afford, possibly risking soc sec being garnished if no resolution, to now $0 / month because they qualified for income driven this whole time. Really appreciate you and your efforts and this community. If anyone’s reading this. I did a consultation and it was worth it. Cheers

[@reneem.4725]

@@phildittrich4361 Thank you for sharing this! I'm on the parent plus loan now but I thought it was not eligible for income driven payment plans? Can you share who you have your consultation with? Mohela's customer support is awful.

[@AlyssaMcCay]

THANK YOU SO MUCH! This process took from October 2023 to now May 2024, went from 3 PPL’s with over 100 grand in debt, standard repayment told us $750 a month, just heard back from Mohela after FINAL FINAL step and we now only owe $300 a month. You guys saved me and my parents!

[@deneenburke5371]

How were you able to consolidate 3 loans?

[@hi1mbob12E3]

Went through this tedious process and followed your directions word for word. It was so well worth it. I went from $279 a month to $25!!! Thank you so much for this priceless information. If you're thinking about doing this, do it. It took several months but it's done. I can't begin to tell you how happy I am and how this really made this affordable for me. Thank you!!

[@KMarieLaVigna]

congrats! i have one consolidation done w advantage. And waiting on nelnet. who did you choose as your final one?

[@angelamaglaque2569]

Who was your original service? If my original servicer is NELNET can I consolidate with them?

[@coffeecrazy70]

I have the same question I have 2 with nelnet. So can I pick say Mohela and aidvantage for the paper applications and then at the end can I choose Nelnet for the final online application?

[@lalalatwiluverlalala]

@@coffeecrazy70from my understanding, no, your final loans have to end at a different services you never used before. Not a professional, just what I’ve gathered, Hope it helps!

[@coffeecrazy70]

@@lalalatwiluverlalala thank you!

[@ShellyMcCowen]

Thank you for this how-to video! We dropped our payment $400.00/ month! Your step-by-step process was easy to follow. Thank you again for putting this out for those stuck with Parent Plus Loans!

[@emmarudd3874]

Went through this process for my dad. Still waiting the final outcome of the IDR application but your instructions were so perfectly clear! I'm the one paying back the PP loans but will help me significantly when he retires in two years!!

[@keithm.9726]

Followed your instructions to the letter and just received my new payment amount from Aidvantage. Went from 4 loans to two to one. Making sure to use paper applications. Total loan balance 162k with a salary around 140k. Payment dropped from $1100 to $560. When I retire it should drop even further. So happy and thanks so much for your help! 🙏🙏🙏

[@StudentLoanPlanner]

Thanks for sharing, Keith! Our team is happy to help.

[@denisesteinwachs6348]

Thanks for sharing! My payment is 1100. Will be ecstatic it goes to half that! On my third and last step now!

[@denisesteinwachs6348]

Did you have to fight for it?

[@keithm.9726]

@@denisesteinwachs6348 Good luck! 🙏🙏🙏

[@keithm.9726]

@@denisesteinwachs6348 Not at all. Never had to even talk to anyone.

[@KMarieLaVigna]

i have 2 parent plus loans: i did a loan consolidation for one using a paper app w/ Aidvantage--quick and painless. Now I am doing a paper consolidation for the other one w/Nelnet and that one is moving along quickly!! Cant wait until that is done to do the final one, combining both into one new consolidated!

[@angelalauer3226]

Hi could you please share who your original servicer was? I have 2 parent plus loans under MOHELA. I want my final consolidation to be with NELNET. Do you think i can do the first consolidation with MOHELA and the second with AIDVANTAGE?

[@KMarieLaVigna]

@@angelalauer3226 hello, my original servicer was nelnet. so i had 2 parent loans under nelnet. i consolidated one under aidvantage using a paper app. and then a diff paper app to nelnet to consolidate that one. so yes i think you can do one with mohela and the other one with aidvantage. the only thing that is strange in that is that they are both serviced through aidvantage. but everyone says it is okay and will go to 2 separate places in the end.

[@KMarieLaVigna]

@@angelalauer3226 my original servicer was nelnet. and i did my first 2 consolidations with Aidvantage and Nelnet.

[@Tricey123]

Thank you so much! This was very informative! I’m completing my applications this weekend.🤞🏽

[@JorgeC-r9w]

Thank you Meagan McGuire for the awesome explanation of Parent Plus Loan Consolidation process. Well explained and easy to understand and follow!

[@shellyallison]

I consolidated my daughters undergraduate loans right when Covid hit. So, I guess I'm not eligible for this loophole..with one Direct Consolidated Loan now. So, can I take 2-3 classes, take out small Federal loan..then use these two for loophole? Don't want to do this if it will not help 😭 thanks!!

[@Detrini101]

Hi there, can I do the second loan consolidation through the paper application since the online application is now closed?

[@yahushuaschosen4129]

My daughter will graduate in May 2025. Should I start the parent plus loan consolidation loan process now that are currently with Nelnet?

[@girlsgamessports14]

Thank you great explanation and happy new year !

[@keirendunfee5927]

We were at the final step of double consolidation with Aidvantage and now it appears that the SAVE program has been blocked by Congress. We now owe 2 months of payments that are substantial. Can we apply for the income driven plan and then reapply for the SAVE program once it is reinstated?

[@esleyb4]

I have two parent plus loans, what steps do I need to take?

[@denzaldivar3581]

I originally had 2 parent plus loans. I consolidated them 3 months ago. Now I have one loan. How would I be able to consolidate that one loan I have now so I can apply for the S A.V. E. PLAN? Thanks

[@yrcharmphoto]

I have 3 Parent Plus loans ( because my daughter was in the college for 3 years). And all 3 of them were posted to the same servicer Nelnet. How can I consolidate them ?

[@AmyLopez-q4g]

Thank you sooo very much for this wonderful video!! I was soo confused before watching this!! Thank you!!

[@Carrie-l8c]

My daughter graduated college. My son is still in college. I have parent plus loans for both of them. Can I do the double consolidation with just my graduated daughter's loans and leave out my son's loans from consolidation? I don't want to change his loans until after he graduates. I know the loophole closes in July of 2025.

[@swfkljqwf]

How can I check if consolidation is worth doing it or not? I see that you have a calculator online but what if marrital status changes from single to MFJ during the payment?

[@CarolynMulhern]

Great video and detailed instructions. Followed them exactly as given and my payments went from $600 to $0 🎉 I started this process in December 2023 and completed it today with notification that I was approved for SAVE It’s a process to say the least but well worth it in the long run

[@AlisaClines]

They have a new IDR form with the January 31, 2024 update date and it is different than the one you used in the video. I am choosing the "income-driven repayment plan" (the first box. not the SAVE or IBR or PAYE or ICR....correct?

[@irvinmull]

Can you double consolidate one parent plus loan?

[@chazjohnson1079]

I second this question, is this feasible?

[@livingbeyondlimitsreneenadja]

I started early April! Done w phase 1 as of today! Nelnet for one consolidation and Aidvantage for the other. But Aidvantage sent it to Mohela! So my next step is to review the video and see if going w Aidvantage is OK as I know the video said do not so step 2 with any of the first phase servicers.

[@livingbeyondlimitsreneenadja]

@briyanc2138 not long for nelnet..a few weeks. Advantage set it ti Mohle so that took a couple weeks longer. I'm starting the second part now. Because the one was transferred from Advantage if thas how you spell it, to Mohela, I'm trying to confirm if submitting my final pn line consolidation can go w Advantage. Let me know if you heard anything. But you should be good. I wouldn't worry about how quick they did it..

[@TheNotoriousJP]

I'm concerned. My oldest graduates in May of 2025. Can I do this double consolidation with her loans before then? I have to take one more year out.

[@ryannparker477]

Hi, thank you for this info! Any idea of what credit rating is needed for the student to consolidate?

[@davidsingleton9481]

What if your student loans have already been consolidated into one loan through Nelnet?

[@echo021]

Curious about this as well...

[@Terry-vy5ic]

I was told by Edfinancial that Aidvantage processes all the consolidations, but then the loan would be held by who I requested-Edfinancial. Now that they no longer follow the original request, I am concerned about sending both consolidations now held by Aidadvantage for double consolidation to MOHELA since Aidvantage processes all of them. Why would they follow my request when they didn’t a few weeks ago. I thought they needed to be held at different services to complete the consolidation. Will I need to wait 120 days to consolidate the second time?

[@rickmooney5931]

Megan hear anything about this being shut down? Seems like Mohela is saying they can't do it in their software and they know they are parent loans

[@pdf6507]

oh no, please update us if you have any more info on this. I need to go with Mohela or Edfinancial for my last step. Neither are listed as options on line when selecting the new servicer.

[@coffeecrazy70]

Can you do these consolidations if your loans are in forbearance? Also if I currently have 2 loans with Nelnet and pick 2 new different servicers for the paper applications can I then choose Nelnet for the 3rd/final online consolidation?

[@DanielleODell-o9i]

I did the double consolidation and I am not sure what I did wrong because I followed your steps. Went from aidavantge to nelnet and aidadvantage and now with Mohela. I am still at 20% of our income and not 10%. Our payment we have to pay is more than our mortgage. Any help would be greatly appreciated.

[@rickmooney5931]

Did you submit paper application for save? There is a trick on website I tried and it let me apply directly...

[@rickmooney5931]

Search payment plan evaluator then click on save and apply I'm hoping this works

[@livingbeyondlimitsreneenadja]

Did you do the paper Save application after the very last consolidation step?

[@SandraLow-fw6jz]

Aidvantage is currently processing loans for MOHELA and Edfinancial when I go to select third servicer for last consolidation. Since I already used Aidvantage for 2nd consolidation -should I wait before I go through with 3rd consolidation?

[@rickmooney5931]

No

[@kristinekelly5207]

Hi, we have followed all steps. On the repayment plan request, bottom of page 2 ,section6, we do not know what to fill in here. Can you help with this section?

[@lemar012197]

I double consolidated my loans with ED and Mohela but just received a notice that Ed will be transferring my loans to Mohela. For the last step can i still do the double consolidation event though my now 2 separate loans are at 1 servicer?

[@rickmooney5931]

Hey great video! I already did the double consolidation and when applying for final step i submitted icr repayment plan online since i didnt know about the paper income driven form.. hasnt finished yet..big deal? Didnt know if this would tip off Mohela that i wasnt. Eligible for save because they involved parent plus loans

[@rickmooney5931]

What happened?😊

[@madelynnmoore2802]

So I went through the process and have been successful at completing the double consolidation. My only issue is that it has not opened any new repayment options. Do I need to call my servicer and tell them that I qualify for other repayment options?? Please help!!

[@meaganmcguire5857]

start watching video at minute 33 for next steps

[@StudentLoanPlanner]

See above comment by Meagan: watch at minute 33 for next steps.

[@rickmooney5931]

​@meaganmcguire5857 hey Meagan i already consolidated two and choose icr since it wouldn't let me choose save ...my last is at mohela does this matter? It won't tip them off that I had parent plus loans in direct loan consolidation will it?

[@brihager2471]

What is the recommended service provider choices if your Direct Parent Plus loans start with Aidvantage? Should the first, paper applications go to Aidvantage and Mohela so the final consolidation can be with Nelnet, or is there another formula that is more guaranteed?

[@capriceskotte2896]

what about if your a business owner/scorp? how do they calculate your income for repayment?

[@rickrussell4900]

Great video, thank you so much! I'm the loan owner for multiple (more than 4 loans) parent plus loans. Can my references for the paper consolidation form, be my 2 adult children? They both live separately from me but are the ones i took out the loans for. They each have their own student loans also. Again, I'm so glad I found your page.

[@MaryannePhillips-sz4ob]

This was very helpful! Has anyone had a similar situation? I have parent plus loans from our first child from 2009-2013 and have parent plus loans from our last child who does not graduate until 2026. Should I just consolidate the old loans or include the new loans too? Thanks in advance!

[@JodyNeuenschwander]

My double consolidation is complete and I am with Nelnet. On the Nelnet site, the SAVE plan comes up as eligible, but Student Aid says I still only qualify for ICR. Now what?

[@LoveAHorseTo]

What do I put in Section 6 of the Repayment Plan Request? "SECTION 6: WHERE TO SEND THE COMPLETED FORM"? Leave it blank? Put the consolidating loan server or the present loan server?

[@DeborahSenatore]

My husband has 6 loans Parent Plus Loans with Nelnet and I have 3 Direct Parent PLus Loans. I watched your video and can't wait to apply to consolidate for a lower payment. How many paper applications and online applications? Do I need to change the already Direct Parent Plus loans. How would I incorporate them into one loan?

[@neshiasmith6347]

I consolidated and was tranaferred to Mohela in October 2022 (taking advantage of PSLF Waiver). Unfortunately, I didn't know about double consolidating and want to ask......If I take out a small loan in Spring 2024 as a part-time student with the intent of doing the double consolidation, how would that effect my PSLF counts?

[@chillphil967]

i would recommend scheduling consultation w/ them for this question. or keep watching more of their videos for free. regardless, i scheduled consultation in april after 6 months of free research, and am glad i did. we were mostly on track, but i had made some assumptions that weren’t correct. in the end, $500 saved my parents like $45k from consultation, and overall saved us 100k+ from the strategy. good luck!!

[@sandraforeman4554]

I got my Administrative Forbearance Has been Applied to Your Account. Do I still wait until I hear that it's complete?

[@JeanPonek]

Great Info! I am submitting the application but am confused on which number they want for the loan number. I have the 10 digit number for all of the loans, or they each have a consumer account number that is a tad different for each loan. Which should I include on the application? Thank you!

[@jefala]

Rare q here! At 48:00 she mentions something *no one* talks about but unfortunately does not go into it further. What do we do if our parent already consolidated every loan into the parent plus loan? Is there any chance or alternative route to the double consolidation still? Any guidance here is appreciated

[@t5353m]

I'm filling out the paper application, but typing in the PDF. My account numbers are 21 characters long, but the fields only accept a maximum of 20 characters. Obviously I can write them in, but copying and pasting is more accurate. Is there a known reason for the 20 character max?

[@FloCataneo]

I had my loans with Mohela for one child multiple loans. I consolidated to nelnet and aidvantage by paper and then once they consolidated I moved on to the online consolidation loan back to mohela it allowed me to chose income driven plan but not save plan. How do I get on to the save plan now?

[@rickmooney5931]

Mail paper

[@simplycaboose8784]

Would you be able to open a loan and consolidate that into the parent loan to get the loophole to work o does it matter how new the loan is

[@donacooter2823]

Just stumbled across your video. I have four parent plus loans. Today is April 30. Is it too late for me at this point?

[@kathymarkus]

I completely,eyed this process a few years ago. I recently consolidated another set of loans to take advantage of being able to have all of the (second set) loans brought up to the same PSLF count. So I currently have 2 direct loans Loan 1 with 45 qualifying payments that are on the Pay as you earn plan Loan 2 is in an online consolidation process to bring all loans to the 41 qualifying payments. This loan will only be eligible for ICR plan. Can I consolidate these together to take advantage of the loophole WITHOUT sacrificing my qualifying payment number? Also, can I do it online since I already have the second one in progress? I am already with MOHELA for all of this and the current consolidation is with Aidvantage?

[@tomstuewe]

Are there any scenarios under which the consolidation to the IDR plan would result in a higher monthly payment than my current Parent Plus Loans? Exactly what is meant by Paying 10% of your income rather than 20%?

[@denisenkids1]

what if I have done my older daughters parent plus loan but My younger daughter is still in college so I don't plan to consolidate hers until closer to graduation. Will this keep me from doing the double loop hole

[@jessicamalabuyoc2384]

When I am applying for the IDR PLan Request - My quetion is CAn I still include my child (adult) that is living with me? He is working part time, He files his own taxes. What is the requirement for bing still part of dependent

[@lovelyduck2360]

I have parent plus loans and my own loans. I know they have to be consolidated separately. For my own loans, can I consolidate my subsidized and my unsubsidized together?

[@path0Jen]

If you are doing this consolidation for 2 different kids (A has 3 parent plus loans, B has 6) - would the process be done separately for each (3 consolidations each) but each time would you list the others loans on the " I don't want to include these list?" ie-A has to list all Bs 6 loans on every application as do not consolidate?

[@keithjaymes3460]

Is the deadline May 2025 or June 30 2024? Everything I'm reading states deadline is June 30th

[@tinaebenstein6002]

I have a direct subsidized and direct unsubsidized as well as one parent plus loan. Since there is only a short time before the deadline, should I proceed with the double cosolidation loophole process or will it mess up my count since the consolidation won't have time to process in full before the April 30th deadline? If so would I do a paper copy with the parent plus loan and one of the direct loans first through Mohela?

[@Terry-vy5ic]

Help! Which loan servicer should I send my 3 total- 2 to one servicer, and 1 consolidation to another servicer considering I currently have Nelnet for all three?

[@angelajustice9257]

Just wanting to confirm that the address for Nelnet that is stated in the video is where I need to send the loan consolidation form. Thank you in advance.

[@HWALK]

Amazing video, thank you. So for my situation.. I have parent plus loans with both my mom and my dad. Along with my own federal personal loans. Would that make a difference in the double consolidation process? Also I put my personal loans into IDR payment already, will that affect this process you laid out? Really appreciate your help! Saving lives out here lol.

[@drewu6643]

are you adding the entire loan account number of just the first for digits of your social then the remaining number?

[@zschamp]

Is double consolidation possible if we already consolidated our loans?

[@tanmar7791]

Need your advice: I was following your steps. And I consolidated one with aidvantage and one with nelnett. After approval then I went to the next step and did an online application and tried to consolidate the two companies together choosing mohela. I just received a denial letter in the mail stating denied code 20 because "an existing direct consolidation loan must be consolidated with another eligible loan" what does this mean what do I do now :(

[@mariannem1834]

I have already consolidated all my parent loans to. Direct federal loan through aid vantage. I’m trying to get in on this save program. My question is can I consolidate the loan I co signed for my son with my direct loans to get the loophole benefits

[@camilabohan938]

if the orginal 4 direct plus loans are with one servicer (say ed financial) can one the consolidations be with that same loan servicer? Say loan 1+2 consolidate with edfinancial and loans 3+4 with mohela. or should you make sure to use 2 different borrowers from your original loan servicer?

[@CourtneyMiller-n8e]

At the end of the process, if the original Parent PLUS loans were for undergraduate school, will they qualify for the 5% discretionary income rule coming July 2024?

[@denisesteinwachs6348]

Good question. I was thinking no but... it would be nice if that were true!

[@joshsg93]

So if you have one parent plus loan and one consolidated direct loan, you shouldn’t consolidate those together? There’s no way to get on a cheaper plan if you have one parent plus loan?

[@yvettef4184]

Hi Meagan - i have a parent loan i Consolidate and its under ICR payment plan and I did this years ago , so do I consolidate again with another one of my own direct loans ?

[@BradyWillis-e7m]

I have already consolidated into one loan. Is there a way to undo this? Or still do this loophole?

[@cmaclin1]

I have the same question and see it throughout this thread with no response! So frustrating!

[@kourtqueen]

Same here!@@cmaclin1

[@BetoRayas]

NO UNLESS YOU HAVE ANOTHER LOAN THAT HAS NOT BEEN CONSOLIDATED AND IS ELIGIBLE TO BE CONSOLIDATED

[@cw5907]

Where can I find Income Driven Repayment Form (shown at minute 35:32)?

[@amberbletscher3035]

My family member has a SINGLE parent plus loan. Do they use the same paper application process and "consolidate" only that one single loan to become a direct consolidation loan, then do that a second time?

[@claycooper7343]

Great question. I am trying to figure that out too. One parent plus and 2 direct. Hopefully someone answers one of us soon.

[@joeleytrick6622]

Megan, thank you so much!!! So helpful. For the 3rd example, do you have to consolidate the personal loans AND consolidate the parent plus loans before doing the double consolidation? Or do you just consolidate the Parent Plus loans then you can just consolidate all the loans together?

[@maxp6521]

Did you ever find an answer? She didn't explain that part well

[@Emahmoud261]

Hello, my original Parent Plus Loan was changed to a Consolidation Loan due to default. Either Navient or Nelnet changed it to Consolidation. Can I still do this consolidation loophole on my loan? Thanks!

[@abbeyjoy1980]

Is it too late to start this process to make the IDR waiver deadline? I did the double consolidation process once successfully but have new parent loans disbursed in January. I’m assuming I just consolidate the new loans together, then consolidate the all together online. Also, my last online app was submitted 10/26/23, so will have to wait until the last minute for the last step.

[@dawndeutsch8829]

I have 3 parent plus loans, I have consolidated 2 with Nelnet successfully, Do I now consolidate the the 3rd with the nelnet one and send to different servicer? or do I do an online application and request the 3rd loan consolidate with the Nelnet one?

[@KatieR-m1v]

My question exactly! Let me know please what you decide. I’m just beginning to gather information to begin process… nightmare!

[@typo9012]

If my daughter is still in college and i have 2 parent plus loans she is in her jr year do i wait to consolidate or do i do it now??? Help please

[@jcw2461]

Does anyone know what the Loan Type 'UNSB" stands for? That is what shows on the paperwork from my paper consolidation applications and now from my online application paperwork. Does that Loan Type still identify them as Parent Loans?

[@MaureenSiedentopf]

What if I have PPL for my children and my husband has PPL for his children. We had these loans before we got married so do we do them separately?

[@YouthTeacher]

Great job! I started with 6 loans at Nelnet: 4 parent plus and my older undergrad direct consolidation loans (1 loan: 2 parts, sub & unsub). I consolidated the parent plus loans on paper and chose Aidvantage, which got consolidated 9/6/23. Then, for a final consolidation, I combined them with the undergrad direct consolidation loan, just submitted online 12/12/23. I chose Aidvantage again. Is this incorrect since you said it needs to be sent to a 3rd servicer bc of the 180-day rule? Uh, oh! Or does that rule only apply when doing two sets of parent plus loans only, like your example 1. Thanks!

[@rickmooney5931]

Shouldn't matter the law says they have to allow it

[@christinavazquez2714]

I just consolidated 6 Parent Plus loans 2 days ago. Can I go back and do the double consolidation today? I’m also planning on applying for the PSLF program bc I’m a teacher. Will that prevent me from getting the double consolidation repayment plans?

[@MariaCRuiz-sp9gj]

Hello, if I had 2 loans and consolidated with Nelnet, can I still consolidate again with another servicer for the loophole

[@dejab7089]

Did you ever find an answer to your question? I’m in the same situation and would really appreciate any input :)

[@MariaCRuiz-sp9gj]

@dejab7080 I did not, I consolidated but it’s at 20% income not as she states to consolidate for 10% income.

[@jmala3192]

Hello, i just stumbled with your video and this is very helpful. Thank you! I have a 4 parent plus loan ( for my son) and 1 consolidated load ( for my daughter which is in ICR ) with Aidvantage already . Im in a process of consolidating the 4 parent plus loan with Ed Fed. Is this going to be Ok since I see that Aidvantage will be reviewing them?

[@LordZendore]

Can I do this if I have overdue payments?

[@sandykolata6329]

I have 3 parent plus loans not 4 so can consolidate 2 to (Nelnet) but what about the last 1 it will not have anything to consolidate to?

[@KatieR-m1v]

My question exactly!!😮

[@sandykolata6329]

I found this reply on another site - I only have 2 (or 3) parent PLUS loans. Can I still use the double consolidation loophole? Yes. Most federal loans are eligible to be consolidated under a Direct Consolidation Loan, even if you consolidate only one loan. So, if you have 2 parent PLUS loans, you can still split them into 2 sets of one loan each.

[@katherinecoronado2416]

super helpful thank you! @@sandykolata6329

[@matthewbusa2404]

Hello! Been following you guys for a while and always super helpful. I have one really important questions im hoping someone can help with. Im about to do the online 2nd consolidation. I plan on using Mohela for the PSLF servicer as my parent would apply. Im also trying to get on the SAVE program. Should I definetly still choose the "Standard Repayment" option, even though it says its not recommend for those seeking PSLF? Thank you so much!

[@rickmooney5931]

I don't think it matters initially

[@JoshuaLowe-l4v]

Thank you for the information. I have three parent plus loans, is it possible to consolidate the first two into a direct consolidation loan #1, and then consolidate the 3rd plus loan into its own direct consolidation loan #2?

[@KMarieLaVigna]

i believe so. i only have 2 and i am consolidating each one separately.

[@eileensoto5356]

Hello, so what if someone has already consolidated their Parent Plus loans a few years back. I had 4 that I consolidated into one and I am still back and forth with them about lowering my payment. Is there any hope for someone like me that now has one consolidated loan. Had I known about this loophole sooner. Is there also hope for those that are close to retirement. I am with AidVantage at the moment.

[@mariaarango2016]

How do I get the repayment form to include

[@alexcavegn7063]

Thank you so much for the information! If I only have 3 Parent Plus loans how does that work?

[@brainspout3447]

I had the same situation, 3 Loans. Just consolidate 2 of them one a single consolidation loan then consolidate the last loan as a new consolidation loan itself (with different servicers, obviously). It didn't make sense to me how you can "consolidate" a single loan, but it works.

[@noxFOMO]

you have to do online application or paper for the last one?. thank you@@brainspout3447

[@alexcavegn7063]

​@@brainspout3447 Thank you so much! Can I ask how long it took for you to hear back after mailing your paper consolidations?

[@brainspout3447]

@@alexcavegn7063 I heard back from EdFinancial in about 4 weeks, it took NelNet a little over 6 weeks.

[@charliejones77]

I just finished consolidating my (3) parent plus loans under the advisement of Mohela before I was aware of the double loophole. I still have 20 days to "undo" my consolidation BACK to the Parent Plus loan. Do I do that and then consolidate the double loophole to the two different servers? Please let me know since I have very limited time. Thank you so very much for this amazingly valuable information.

[@stephaniegrant2361]

Did you ever get any help on this? Ppl on Reddit are way more responsive!! If you end up posting on there, I'm also curious, so feel free to link your ask as a reply. Wishing you the best of luck!

[@sarahmarkland9147]

Question: Can we, for example, select Nelnet and Aidvantage to do the initial 2 loan consoliations and then in the final loan consolidation choose yes for PSLF and therefore MOHELA? Or do these steps have to be separate from everything? Thank you!!

[@lisacourson7989]

Did you find out an answer?

[@anthonystile]

Thank you for this video information. Our parent plus loans have just come due, and we are starting to consolidate 4 loans to 2 loans, and then 1. I have a question please. I am 70 years of age with a disability. Is there anything particular I can do to help?

[@pubear7514]

For the student loan gov website: If you’re totally and permanently disabled, you may qualify for a discharge of your federal student loans and/or Teacher Education Assistance for College and Higher Education (TEACH) Grant service obligation. studentaid.gov/manage-loans/forgiveness-cancellation/disability-discharge

[@giaservin3620]

How can I do this process if I have already consolidated my pp loans online? I just saw this video after doing the consolidation. Please help!

[@chrisgoode1578]

Same

[@sallytrollinger9429]

What if I only have 1 parent plus loan?

[@michelleunger857]

Very helpful info. I consolidated all of my Parents Plus loans and received confirmation that they were consolidated. Do I have to have to now consolidate my remaining non Parent Plus loans (these were my own graduate school loans) or can I skip to the last step and add the new consolidated loan (from PP) to the non PP loans as my final step to consolidate? Do I have to first consolidate my non PP loans and then do a final consolidation of both consolidated loans? Thank you.

[@maxp6521]

She never explained that properly. Please let me know what you did