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How to consolidate 2 students separately

Started by KDR, September 28, 2020, 04:30:51 pm

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We have taken out Parent Plus loans for both our children with the agreement that upon graduation, they would then refinance their own loan and take it over.  On the Fed Loan servicing page, I don't see a way to consolidate their loans separately.  It is putting them all together.  Is there any way for the kids' amounts to be kept separately?


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.

See this on Parent PLUS Loans.