If my loans are currently in Aidvantage and I send them the Mohela & Edfinancial, will I be able to bring them back to Aidvantage in the second consolidation and apply for New IBR plan?
All of this is for nothing at this point... no one actually knows what is going on. You don't even know if they're legally allowed to be processing the consolidations. They may be accepting apps, but processing?? So you do all this and have your application get hung up for months only to have the programs and the payment plans change once again. I don't believe ANYONE with older loans (those who consolidated FFELP or wrapped an older PP Loan) into a Direct loan has had the payment count adjustment completed. I haven't found one person. People can't even get a response from Dept of ED about the status of the adjustment.
o I wait to get confirmation of the first consolidation before sending the 2nd one in? Will they automatically determine which servicer gets assigned regardless of who was assigned initially? Thank you
I have a parent plus lian and nelnet told me that l already have a consolidation loan can't do it any more. How does this work l already retired and d l try forgiveness loan. Since l work at the Veterans hospital for 20 years. I worked as a Registered Nurse. They told me l don't qualify so what can l do. I owe 200,000 or a little more. Been paying for over ten years. What can l do to reduce or get forgiveness. They told me l had to go back to work l am 72 yrs old.
What if one time account adjustment will eliminate all my loans except the plus loan that I was told I would be denied for but wasn’t? I’m afraid that my counter will start all over or get stuck with a bigger payment.
It's really hard to say whether you're going to miss out on the one-time account adjustment if you were to consolidate your loans now, just because you're past the deadline to receive the full credit and you may be looking at receiving the weighted average credit under the rules that kicked in on July 1st. So I'm really not sure without looking at the loans. There may be an option for you to get the relief, or you may miss out or lose something entirely.
@@stanleytate thanks for responding and yes it’s hard to give a wholesome answer without intimate knowledge of my loans. I’m 27 years in on oldest loans and currently have 3 buckets of loans! All direct loan consolidation-one subsidized direct loan, one for the unsubsidized and one for PPlus. I’m afraid to start the process of consolidating that plus loan into one of the regular direct consolidation loans and risk missing out on the one time account adjustment. What if they get to me and I’m mired in processing of some unfinished business? The plus is $60k. The other 2 combined are over 200k. I’m too broke to afford you sadly
Ok I sent in the paperwork to for the last step of the consolidation but I did not send in the save plan repayment request document. Should I send that in now?
Double consolidation is very helpful. I hope Parents with PPL would reach out to you about this. It’s helped us so much. I encourage the Parents with Parent Plus Loan to check this out and see if they are qualified.
Hi, I’m an upcoming video, can you touch base on Navient Private Loans transferring to Mohela and what this means. Navient has me in debt, I originally owed $42,000, I paid them $64,000 and somehow I still how $70,000. I tried everything. My school closed for misconduct and they are doing nothing about it. Now Mohela is emailing me letting me know I have a payment owed and they are my new loan servicer. I don’t have the funds no more to pay them so I am taking your advice in one of your videos and not paying them since I can’t anyway.
If my loans are currently in Aidvantage and I send them the Mohela & Edfinancial, will I be able to bring them back to Aidvantage in the second consolidation and apply for New IBR plan?
I want to book one of your paid calls, how long are they?
All of this is for nothing at this point... no one actually knows what is going on. You don't even know if they're legally allowed to be processing the consolidations. They may be accepting apps, but processing?? So you do all this and have your application get hung up for months only to have the programs and the payment plans change once again.
I don't believe ANYONE with older loans (those who consolidated FFELP or wrapped an older PP Loan) into a Direct loan has had the payment count adjustment completed. I haven't found one person. People can't even get a response from Dept of ED about the status of the adjustment.
I tune in to tune out. Such a complicated web...to apply...for help. Hate it...and Ed Financial.
o I wait to get confirmation of the first consolidation before sending the 2nd one in? Will they automatically determine which servicer gets assigned regardless of who was assigned initially? Thank you
Thanks for the video and information! I have a PP Loan which is currently deferred until 2025. Can I still start the consolidation process?
13:50
If you have only Parent Plus Loans, do you just combine all into one or do it twice still?
I have a parent plus lian and nelnet told me that l already have a consolidation loan can't do it any more. How does this work l already retired and d l try forgiveness loan. Since l work at the Veterans hospital for 20 years. I worked as a Registered Nurse. They told me l don't qualify so what can l do. I owe 200,000 or a little more. Been paying for over ten years. What can l do to reduce or get forgiveness. They told me l had to go back to work l am 72 yrs old.
What if one time account adjustment will eliminate all my loans except the plus loan that I was told I would be denied for but wasn’t? I’m afraid that my counter will start all over or get stuck with a bigger payment.
It's really hard to say whether you're going to miss out on the one-time account adjustment if you were to consolidate your loans now, just because you're past the deadline to receive the full credit and you may be looking at receiving the weighted average credit under the rules that kicked in on July 1st. So I'm really not sure without looking at the loans. There may be an option for you to get the relief, or you may miss out or lose something entirely.
@@stanleytate thanks for responding and yes it’s hard to give a wholesome answer without intimate knowledge of my loans. I’m 27 years in on oldest loans and currently have 3 buckets of loans! All direct loan consolidation-one subsidized direct loan, one for the unsubsidized and one for PPlus. I’m afraid to start the process of consolidating that plus loan into one of the regular direct consolidation loans and risk missing out on the one time account adjustment. What if they get to me and I’m mired in processing of some unfinished business? The plus is $60k. The other 2 combined are over 200k. I’m too broke to afford you sadly
Ok I sent in the paperwork to for the last step of the consolidation but I did not send in the save plan repayment request document. Should I send that in now?
Yes!
If I have just one parent loan what are my options.
Will you do a video over the oral arguments that occurred on the 24th for SAVE?
Double consolidation is very helpful. I hope Parents with PPL would reach out to you about this. It’s helped us so much. I encourage the Parents with Parent Plus Loan to check this out and see if they are qualified.
Hi, I’m an upcoming video, can you touch base on Navient Private Loans transferring to Mohela and what this means. Navient has me in debt, I originally owed $42,000, I paid them $64,000 and somehow I still how $70,000. I tried everything. My school closed for misconduct and they are doing nothing about it. Now Mohela is emailing me letting me know I have a payment owed and they are my new loan servicer. I don’t have the funds no more to pay them so I am taking your advice in one of your videos and not paying them since I can’t anyway.