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

[@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.

[@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.

[@livingbeyondlimitsreneenadja]

I just finished the consolidation of the two servicers!! Now I only have one loan servicer!! Honestly it didn't take long at all. Uploading the idr form today! Im already contemplating a win!! Will be back for an update but thank you to you and your team! Great help!!❤❤❤

[@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

[@user-in2gf2cj2z]

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?

[@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.

[@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?

[@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!

[@summerbeauts]

With Nelnet no longer processing consolidations as of 5/16/24, Would it be possible to get a video update with instructions on how to do the double consolidation without using Nelnet please? I understand it will be a longer process but it’s better to get started now so we can possibly beat the July 2025 loophole cut off. My current loans are with ED financial and I’d like to start the process right away.

[@summerbeauts]

kzbin.info/www/bejne/hpyZpp6Nid6ZoK8si=jhDn6YWkqXBR0nL3 Check out this video and take a look at the comments, someone called Nelnet 9 days ago and received this information about the 5/16 cutoff date for Nelnet consolidation.

[@user-hq9xu3cx3i]

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!!

[@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.

[@henrylee8524]

This has been an excruciating process, but you made it a little better and have made it clearer

[@georgiacinq-mars1899]

I just finished the paper consolidations. I couldn’t find the links in the video but was able to find everything at the Student Loan website and I needed to go to the servers websites to get account numbers. I watched the video and then rewatched as I filled out each section. Give yourself an afternoon to complete the whole process. I appreciate the videos attention to detail. The process is easy once you start it.

[@georgiacinq-mars1899]

I hope that helps.

[@user-in2gf2cj2z]

We are on paper IDR step application, got 3 PP loans into 1 final servicer (Mohela) no issues so far besides being patient. We have been working on this since October 2023. Fingers crossed this final step works!

[@deneenburke5371]

How do you bundle the loans when there are 3?

[@jcw2461]

Great info! My question is regarding Administrative Forbearance. I had 5 parent loans with Mohela. I overnighted the 2 separate paper consolidation applications 11/6/23: one to Nelnet and one to ED Financial. Nelnet is fully completed as of 12/22/23 (next payment due to Nelnet by 2/5/24). Ed Financial is still in-process and those loans still show on Mohela's website and that I need to make a payment to them by 1/9/24. When does Administrative Forbearance take place? Is that only when I do the online consolidation? I plan to pay Mohela, but don't want that payment to potentially not count as I apply for PSLF. Shouldn't my consolidated loans be in Administrative Forbearance now?

[@user-eh5jn1xd5r]

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

[@yahushuaschosen4129]

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

[@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!!

[@gveitinger]

Just went through this painstaking process only to be told by two different reps that they have been advised this is no longer an option. All consolidations into Direct loans that used to be PP loans are now tagged as such even after consolidation, and only ICR is available. I am so bummed!

[@chrislabish]

Don't give up! Was this with Mohela? I had to speak with a supervisor at Mohela after numerous other representatives failed to allow me to choose an IDR (SAVE). She recognized the problem as you described, in my consolidation, and put forth a fix. She stated as long as the last consolidation was direct loans, you are eligible for IDR options. I am now eligible for SAVE.

[@AmyLopez-q4g]

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

[@kurts5635]

Is cutoff for the loophole still July 1st, 2025? Asking because I want to wait until my 4th Parent Plus loan to post later this year [2024].

[@richrat17]

Thank you so much. Your instructions really helped me immensely. Thanks again!

[@girlsgamessports14]

Thank you great explanation and happy new year !

[@user-dx3xz4dh5s]

I'm still being denied to be put on Save even after the double consolidation. I've uploaded the IDR Save payment plan and was denied

[@user-ze2dy9vx4z]

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

[@christined4875]

Make sure the box in the right hand corner of paper application is voided out with permanent marker. Send a letter if you want to stay with your current servicer particularly PSFL. I sent in the paper app. No one told me about the code with exp date in the right hand corner. My loan went to Edfinancial. I was at Mohela now has been a real problem getting this loan back to Mohela. Send a letter with your application who you want to stay with. Copy and send with return receipt. Please add a caveat if you are going for PSLF you must chose Mohela. They will not automatically place you back. I have now been required to resubmit my certified ECF to FSA. Definite headache things have changed

[@ambermarie4728]

she addresses at the 30 min mark FYI!

[@user-xb2ti2dn1s]

How do I do the consolidation if I have 3 parent plus loans? I’ll appreciate if you can explain.

[@DETSD24]

Thanks so much for this video. I'm almost at the finish line! However, I have a quick question. I've recently seen horror stories about those who've completed the final consolidation process with Mohela -- something about being denied because Mohela's software won't allow selection of the SAVE plan following the final consolidation. Here's my question -- I originally started with all Nelnet loans. I successfully split and consolidated them into two separate loans with Aidvantage and Edfinancial. My plan was to do the final consolidation with Mohela but now I'm hesitant. Do I have to use Mohela or could I go back to Nelnet for the final consolidation?

[@rickmooney5931]

I'd go with different one.. they have to do it..

[@rickmooney5931]

Mohela

[@GV_1999.]

This happened to me two weeks ago. I just called them after i seen my loan servicer was mohela on studentaid.gov (I didn’t get a email stating the consolidation was complete for some reason). Simply explain the situation and they will fix it and enroll you in the save plan. They explained that it’s just a glitch in the system. If the person you call seems to be new just ask to speak to a manager.

[@aliciasmith69]

@@rickmooney5931 What happens if you choose Mohela and the loan is being processed by another loan servicer that you used before?

[@rickmooney5931]

That doesn't matter.. aidvantage services most

[@steter12]

If all my PPL are currently with Nelnet how do I do the double loop since Mohela and Ed fin are both actually Aidadvantage? Whats my best route as to not red flag myself? Pls help😢

[@kristinwade9873]

Same! Also wondering about that!

[@steter12]

Wish there was a place to ask questions like this...I have paperwork ready to mail out but Idk who to send them to for this to work.

[@gbemisolaopeoluwashonibare8537]

i think you can send one to nelnet and one to any of the other 3 and it should be fine @@steter12

[@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

[@tylittle4661]

I have completed the paper consolidation and now have two loans to consolidate online, however, this seems to not be an option at the moment through fafsa. Should I complete another paper application to complete the process? This is for PLUS loans. Thank you.

[@717JoeCool]

As of May 19, 2024 Nelnet is no longer accepting Consolidation Loans.

[@717JoeCool]

@briyanc2138 I called them after a week of receiving my application as my tracking said it was delivered but not picked up. They eventually found it and said that to me that they are no longer processing consolidation loans as of May 19th. My application got delivered on the 21st. 😡

[@esleyb4]

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

[@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..

[@gilbertoagonzalez6310]

For the final step, sending the paper IDR application & selecting the plan. i see you need to send a copy of your tax returns. if you are married, can you file married filing separate to have a lower monthly payment? This would be when selecting the SAVE program. The loan is under my name and we can file separate tax returns for the 2023 tax year if it helps lower monthly payments. thanks

[@kaylinjackson1360]

This is my question as well

[@aliciasmith69]

I have the same question and given that I had only 3 business days to respond due to weather conditions and the snail mail, I am stressing about the 10 day deadline.

[@rickmooney5931]

Yes absolutely

[@arnieemail2704]

What if you have already consolidated the 5 loans you had into one consolidation loan under the ICR in November 2023 (because it was the only available option available or known at the time). Is there an option to somehow do something with this still?

[@rickmooney5931]

I saw articles on it

[@marks7192]

SLP. I and many other people here have found your assistance quite helpful. We know youre all very busy. If you could have a team possibly privide answers to some of us here online that would be a great step in your services

[@irvinmull]

Can you double consolidate one parent plus loan?

[@chazjohnson1079]

I second this question, is this feasible?

[@raquel8883]

I have 3 parent plus loans with the same servicer, and no other school loans. Not sure how to start, because you started with 4 parent plus loans to create 2 separate direct consilidation loans? Please help.

[@Terry-vy5ic]

I had three PLUS loans with same servicer, as well. One can be sent to consolidate separately, then the other two can be combined to send to another servicer.

[@raquel8883]

@@Terry-vy5ic thank you for the reply, but what are you consolidating the first one to? I have no other loans to consolidate it to. All I have is the 3 parent plus loans under the same servicer.

[@shellybethard9339]

Thanks for the information!! Getting ready to put in my second consolidation!

[@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 :(

[@denisedoherty4909]

How can you double consolidate 2 loans?

[@katiematsen5380]

I am on the last consolidation so Im glad I saw this updated video! Quick question, my dad is the one with the parent plus loans, he has one for my brother (who is still in school) which I did not touch when going through this consolidation, when filling out the final IDR application, when it asks if he has multiple loan servicers, I believe we should answer yes, correct? From my understanding since I will only be submitting this to the final loan servicer (which differs from the servicer that has my brothers parent plus loan) this should not affect repayment on that loan. I just want to make sure I do not trigger my brothers repayments by submitting this for my consolidated loans

[@lynnburkhardt5509]

Hi! Did you ever get a response for your question? I have 2 children who are out of college and I am going to do the double consolidation and I have a son who is still in college. We have 2 PP loans on him and not sure if I should include those in the double consolidation process.

[@peggytyre9076]

@@lynnburkhardt5509 Did you get the answer to this?

[@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.

[@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?

[@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?

[@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?

[@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?

[@anthonystile]

It can't be done from the website any longer. They stopped it.

[@ryannparker477]

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

[@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?😊

[@user-px8nm3tt8d]

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?

[@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.

[@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?

[@joymiller8707]

If you have 3 loans on one child you can consolidate 1 of the loans..but what is the process for the third one since there is only the one left?

[@MotorcycleSkin]

Can I do this loophole if I only have one Parent Plus Loan ?

[@LawAndOrder_Lisa]

Same question

[@MotorcycleSkin]

I have 1 parent plus loan, is there a way I can do this double consolidation loophole??

[@user-ze2dy9vx4z]

See minute 6:41 -littlest is 2 loans To consolidate is to combine. I’m not sure how you’d consolidate 1 loan

[@GionGiya]

Great video Thank you so much. I have one question - what if we have 3 parent plus loans? Do we just do one paper app for 2 of them and leave the other? Then once the 2 are consolidated we consolidate the last? Does it matter which 2 to pick?

[@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?

[@PatriciaMeinhardt]

I have submitted paper applications to 2 different servers. I have heard from 1 and nothing from the other. Has Nelnet stopped doing loans consolidations?

[@salwabenloubane1188]

yes i just called them today - they are no longer doing consolidations

[@reneem.4725]

I did the same thing! I sent mine to Nelnet and haven't heard back. I have to redo the whole application now

[@davidsingleton9481]

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

[@echo021]

Curious about this as well...

[@ChristianG88]

What if I sent my only two parent plus loans to one servicer and now they are consolidated. Is there anything else I can do to qualify for SAVE still? I believe I’m over the reversing period. Would you suggest ICR as the next best option?

[@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

[@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.

[@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.

[@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!

[@DrMikeSnyder]

Great info on your KZbin, by the way...thanks!!! I just did a Direct Consolidation of my FFELs, and I understand I can only do one consolidation every six months. If I ONLY have 2 PPLs with Nelnet, should I do a double consolidation by paper by sending each PPL to a different servicer, or should I combine the two and send them to one servicer by paper?

[@sandraforeman4554]

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

[@user-fx2lb8yg9o]

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?

[@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?

[@AchillesDaDon]

If Nelnet is my current servicer. Can I still consolidate one with nelnet and the other with aidvantage? Or can that not be done since it my current servicer. And if I have 5 loans I split 2 and 3 correct?

[@angelamaglaque2569]

Did you ever get an answer to this?

[@echo021]

@@angelamaglaque2569Curious as well @uceshxt31

[@user-ze2dy9vx4z]

You can use your current servicer. For the first round of paper I used my current Nelnet and Mohela Final consolidation I used Aidvantage Just like she explains in video You just don’t want to use a servicer twice

[@JamiRichards-et9jg]

I have completed the first consolidation of the double consolidation process. However, since the July 18 Court Ruling, there is a stay in place and the Student Aid website has turned off the ability to submit an online application for Direct Consolidation. Is there another way to be able to see what your loan number is? I have called Student Aid directly a couple of tines and have been told that I have to contact my loan servicer for the loan number. Each of my loan services shows only an "Account Number" which I know is different from the "loan number". The second consolidation must now be done through a paper application since the online application is turned off at this time. Student Aid has assured me that I can use the service "account number" on my consolidation application. Anybody else having this issue locating a Loan Number?

[@briyanc2138]

account number is the same thing as loan number. its a 10 digit number. You can use the "account number" as that is specifically for that respective loan.

[@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?

[@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.

[@Wlabatt]

Hi, I can't find the most up to date paper form. When I google, I only get the 2022 form, please help.\

[@kristenchavez5208]

how long does it take for the loans to settle into the 2 where you apply for the online application? where it says to select which loans to consolidate I still have two direct parent plus loans there. Its been like that since the last time I checked earlier this month.

[@broodewd]

curious did the issue resolve for you? how long overall? I'm trying to set timeline expectations for myself

[@claycooper7343]

Question, we have one parent plus loan for our son and our son has 2 direct loans. Would I submit a one direct consolidation form for the parent plus loan and another one for the 2 direct loans then combine the 3 together so our son can get the save program? Thank you.

[@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

[@finnxeon]

@studentloanplanner If my parent plus loans were already consolidated into a Direct Consolidated Loan years ago, would two consolidations still be required, or just one?

[@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?

[@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

[@cupofkoko]

Thank you for making this video. I have one question, I will be doing Example # 3, when doing the paper application do I list Stafford loans on the loans I do not want to consolidate?

[@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?

[@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

[@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!

[@nickp5815]

What if there are two siblings that are consolidating two parent plus loans each? Can we not send our loans to the same providers? If my sibling sent them to EdFinancial and Nelnet, does that mean I can't now?

[@Buoyspammer]

I started with 3 pp loans serviced by aidvantage. I consolidated 2 with nelnet and 1 with edfinancial. Can I go with aidvantage again for my final consolidation? I want to avoid mohela.

[@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

[@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?

[@halc5975]

So I consolidated 9 loans into one from parent plus loans because I didnt know this. So I am screwed?

[@capriceskotte2896]

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

[@MrChillehead]

My daughter is still in school, we haven't made any payments yet. will I have to start paying before she graduates if I consolidate?

[@EILEEN-dt3ev]

I have 4 current parent plus loans for my 2nd son and one direct consollidation loan from 2015 for my first son. Can I just consolidate the 4 plus loans and then reconsolidate that loan with the older consolidation loan to get into the save program? Would this be considered double consolidation? All the loans are with the same servicer. Should I consolidate with a different servicer for the new consolidation and then with a different services for the 2nd consolidation?

[@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!!

[@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

[@FredMercury-mg4wj]

I am remarried , I am unable to count my husband for income since he is not the father , what do I do in this case??

[@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?

[@7163maple]

I have a direct consolidated loan (from Parent Plus loans) for one of our two kids. I did this way before I knew about double consolidation. I also have one separate Direct Plus Parent loan that was not consolidated for some reason. My wife has our other child under a separate but same type consolidated loan. We file taxes jointly and live in same household with one income from me. Is there a way we can consolidate both now consolidated loans into one under my name? I assume it would then be double consolidated. Thanks!!

[@zschamp]

Is double consolidation possible if we already consolidated our loans?