My student loans (originating in 2008!) are still being serviced by Navient ??) so I have to consolidate them to direct loan first in order to request/qualify for PSLF. I have worked non-profit all my life, and 7 years for one major ministry, and now I'm board mbr/cofounder of a 501c3 (official status), where I receive no income and am doing tons of pro-bono work as Sec/Treasurer.
1. Going thru the online application for direct loan consolidation, I seem to have a choice to choose a. new service loan provider?? WHAT?? never heard of this.. and sorta nervous, because they ALL suck! So is there ONE that could be recommended above others that deals favorably with PSLF? Since I seem to be able to pick, I might as well make an informed/best decision. My spouses loans were just transferred from Navient to AidVantage..and they ARE an option, but i've ready they're not getting great reviews as the "new kid on the block" for USD Education loans. However, it seems as though there might be advantages for us both having the same servicer? I dont care/want to combine our loans/payments. Too confusing for these guys..
2. For anyone who has completed the PSLF waiver (to transfer PAST qualifying payments during consolidation) any tips?? I do that DIRECTLY after my loans are consolidated?? (thats what I was told, but just checking..I've been lied to before) Please HELP!!! I really want / need to get this right!! Navient screwed me over and directed me toward forbearance (instead of staying in IBR) and so I had all the interest added to my account. But I SHOULD absolutely qualify for the forgiveness..so TIA for your advice, amigos!!
1. Once you apply for PSLF, your loan will transfer to MOHELA. You don't get a choice - so I would pick it just to save yourself another transfer later.
2. After you complete consolidation, you need to apply for PSLF covering all your past payments that qualify. That's it. It will take time to process.