The only exception is FFEL loans for parents, which do not qualify for this repayment plan. Most types of FFEL loans can also be consolidated into a Direct Consolidation Loan. After you consolidate, you may become eligible for additional income-driven repayment plans that offer loan forgiveness...
Consolidating FFELP loans could also make them eligible forfuture student debt cancellation. Even thoughPresident Biden's loan forgiveness plan was struck down by the Supreme Court, any future loan forgiveness plans will only impact Direct Loans, not FFELP Loans. Consolidating FFELP loans into a fede...
This consolidation requirement applies only to commercially held FFELP loans; the account adjustment will be automatic for those with federal FFELP loans. Navient aims to transfer FFELP loans to MOHELA Navient, one of the servicers that manages commercially held FFELP loans, announced on Jan. 30, ...
consolidating now could mean the new combined loan misses out on the one-time forgiveness. In this case, the best practice is to apply for the one-time relief immediately, and then later consolidate the remaining debt.(Note: borrowers can also choose to consolidate only certain federal loans....
1 Disbursement Roster File ... 1 Disbursement Roster Acknowledgment File (CDA process only)... 1 NCHELP Information ...
ResearchBackground&ExperienceBackground&Experience•23yearsinthestudentloanindustry–13yearswithalender&servicer–10yearswithaguarantor–VPofBusinessDevelopmentforASA•Astudentfederalloans–ABinEconomicsfromSmithCollege–MBAfromBostonUniversityGraduateSchoolofManagement–Ed.D.fromtheUniversityofPennsylvaniaRationale...