It sounds like you have an old consolidated FFEL Loan. These loans don't qualify for any programs under the Covid-19 assistance.
Furthermore, chances are that future legislation will continue to not cover them. Depending on how much you have left on your loans, and how much time you have left, you might consider re-consolidating into a Direct Loan, which will open you up to the current Covid-19 pause, as well as new loan forgiveness options (like PSLF).
Last post by navientsux - October 10, 2020, 08:38:19 am
I am currently still paying my student loans in these unfortunate COVID times because Navient says I have a consolidated loan. Will this affect my eligibility for any proposed future forgiveness whether it be by a new administration or as a result of the Navient lawsuits?
I can't tell you what you did. I can't tell you the paperwork you filed. Only you can know and have records of it. You can also pull your MyAid file on StudentAid.gov and see your loan records to check.
Since both your loans are at Navient, regardless of consolidation, you're likely being billed one amount anyway.
Last post by Cherokeebx - October 05, 2020, 05:49:07 pm
If I consolidated two loans into one, why am I being billed on two accounts? Moreover, the subaccount(s) have two separate categorized numbers, i.e., 01 and 02, and each subaccount is accruing interest separately.
And if I consolidated, then I am billed on one amount and one interest rate.
I'm not sure I understand. You can consolidate your loans together, or you can consolidate each loan individually, but you can never consolidate your Parent PLUS Loans into your children's loans.
Remember, Parent PLUS Loans are legally your responsibility 100%. While you may have a verbal (or even written agreement) with your children, they are still your loans.
Some private lenders allow you to refinance a Parent PLUS Loan into the child's name, but the child has to agree to it and do the application (and of course, qualify on their own without you). However, there are big drawbacks to private loans.