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PSLF and Consolidation

Started by ds343, August 27, 2022, 08:31:34 pm

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I have about $144k in federal (Nelnet) student loans. (On studentaid.gov, I see I've received a Pell Grant before, so I assume $20k will be cancelled by Biden's student loan cancellation).

Looks like the repayment plan listed on 2 of the loans is Income Based Repayment and 6 are listed as Pay as You Earn. My estimated monthly payment will be about $106 once the payments start back up next year. I'm extremely comfortable with that amount. I'm just now starting to research the consolidation that I have to do to be qualified for PSLF. My only worry is that I want to avoid a situation where, all of a sudden, my payments increase by a ton solely because of the consolidation. Could consolidation result in an increase in my payments?


If you currently have Direct Loans, you don't need to consolidate. You only need to consolidate if your loan type is FFEL.

The PAYE loans are clearly okay. The two IBR loans must say "Direct", not "FFEL". If they say "FFEL", you need to consolidate those two.

Since you have direct loans already, the only action steps required by you are making sure that you're filling your your PSLF application completely for all covered months.