Just spoke to someone from Nelnet and they said they will process any consolidations they received by 5/16/2024. Any new consolidation requests will be sent to Aidvantage for processing.
@@briyanc2138 this was my second step and the only time I've mailed paper forms. I sent it certified overnight and it was received 4/27. Received email from Nelnet saying they received my paper work on 5/2, and received an email showing my loan details on 5/30. I hope that helps!
My credit report just said my loans were decreased by smaller amounts that I did not pay as I'm in the invome driven repayment plan. Not sure what's going on.
Got a confirmation letter that my consolidation would be in effect starting today. Logged in today, now it says I owe double and it took me out of SAVE and into immediate repayment. Freakin’ nightmare.
Would it be possible to get a video instructions on how to do the double consolidation without using Nelnet please? I understand it will be a longer process but it’s better to get started now so we can possibly beat the July 2025 loophole cut off.
@@summerbeauts sorry I never saw your comment. It was less than 60 days. I’d say maybe 30 that was after sending in the paper application. That was rejected so I applied online. I canceled consolidation back in November so I had to wait months until I could apply online. After applying online I heard from Aidvantage three weeks later. Then 10 days from the letter they sent my consolidation would be completed.
Yeah I have started seeing that as happening with online applications as of 5/20. Nelnet not being listed as an option to chose. I have not seen any paper applications get rejected yet.
I mailed my paper forms to Nelnet for the final step 3 of the PPL double consolidation and have not heard back. Forms were received by Nelnet on 4/28 but no word yet. My online consolidation (chose EdFinancial as servicer) is being processed and I already received the consolidation summary letter by mail.
I didn't realize that we have to consolidate. All my loans are with Nelnet, so I assumed they were consolidated. So what you are saying is, the loans I habenin Nelnet should all become one loan? Does this mean if I don't consolidate that my chance to have loan forgiveness is not going to happen. I did email Nelnet and got a very confusing response. Urgh this is frustrating
I applied for the save plan under nelnet it didn't go through and I can't call because I work while they are open because in a different time zone. So I'm paying a month late 😢
@@briyanc2138 Nelnet got my application April 19th. I got a letter dated from them May 10th. Aidvantage 5/21 and they said I had to resubmit my application because they needed pages 1 through 5. Ummm I sent the same format to Nelnet no issues. Aidvantage must have lost my application pages and blamed me. I resubmitted online and should have picked a different loan service. Navient got paid by Nelnet but one of my payments was adjusted. They told me that information will reflect on Nelnets end. I am still waiting and Nelnet doesn't see the adjustment. So sick of calling all these people. I wanted my payments to begin right away and they put me on Forbearance.
Hi! …I’m on the SAVE plan with $0 payments until 6/2025; all Direct Loans. Should I consolidate for faster forgiveness? If going to the IDR plan my payments would be $205 per month with estimated payments through 2048. 😢 I consolidated before and started the clock over on direct loans that would already be 20+ years old.
If everything was already consolidated you don't have to consolidate again. The new IDR waiver consolidation doesn't reset the clock like it did in the past. The IDR waiver does a count adjustment so the clock starts with your oldest loans. SAVE is an IDR plan so you don't have to get on a different IDR plan unless you want to. A lot of servicers have not updated the consolidation information so if you consolidated recently, it looks like the clock started over but it hasn't. The government is just overwhelmed so your count adjustment might not show up until July or later. This waiver for consolidation was just extended, if you consolidate after the waiver, it's likely the clock would start over. If your loans are that old you might end up getting an email this summer that they will be forgiven.
If you had undergrad loans in say 2010, payed on those then went back to college in 2016. You could consolidate the loans and it would make the date for everything start in 2010 rather than some starting in 2010 and some in 2016. So it could take 6 years off of the 20 or 25 year payment schedule on your loans as a whole. Hope that helps!
@@sphere6258 So If I have loans from 2005-2006 and then returned to school in 2016-2019 I should consolidate all the loans and they would be backdated to an earlier time?
The loan is in deferment and it is affecting my credit. Is that normal? I’ve never experienced this before and nelnet has my loan now. Any suggestions?
If your loans is in deferment and your not making payments and you have unsubstantiated loans, they are acurring interest. Meaning your balance is going up. It can affect your credit even though you are not required to make payments and are not past due & being reported as current.
That's a different issue. Mine was also transfered to SLOAN. That's because the loan type is not a DOE type loan since it was consolidated way back by a private bank, not DOE. Now we have to consolidate it again to mohella or nelnet so it's DOE owned.
I started wirh 13,350 and he conslidated with a parent plus and now i owe almost 46,000. All i did was an application online. This is BS!!
Nelnet put me in forbearance and Im suppose to have income driven repayment program?
Just spoke to someone from Nelnet and they said they will process any consolidations they received by 5/16/2024. Any new consolidation requests will be sent to Aidvantage for processing.
😮
Hoping I made this window. Got an e-mail back on 05-16 saying my application was under review and would be complete on 07-04.
@@briyanc2138 they got back to me about my paper application consolidation in about a week from me mailing it out. So I'd say 1-2 weeks tops .
@@briyanc2138 this was my second step and the only time I've mailed paper forms. I sent it certified overnight and it was received 4/27. Received email from Nelnet saying they received my paper work on 5/2, and received an email showing my loan details on 5/30. I hope that helps!
My credit report just said my loans were decreased by smaller amounts that I did not pay as I'm in the invome driven repayment plan. Not sure what's going on.
Got a confirmation letter that my consolidation would be in effect starting today. Logged in today, now it says I owe double and it took me out of SAVE and into immediate repayment. Freakin’ nightmare.
Nobody seems to be able to figure out our spousal consolidation with Nelnet. We filed our complaint and wait. Nelnet will certainly screw this up!
Does this mean we are fucked if we have Nelnet?
And if Trump is elected, more chaos!!
@@patrick39432 makes me wanna crawl under the covers and cry...
Would it be possible to get a video instructions on how to do the double consolidation without using Nelnet please? I understand it will be a longer process but it’s better to get started now so we can possibly beat the July 2025 loophole cut off.
Aidvantage is taking forever! Nelnet was pretty fast with the process.
@@RosaEstanli has it been over 60 days that you’ve been waiting for Aidvantage?
@@summerbeauts sorry I never saw your comment. It was less than 60 days. I’d say maybe 30 that was after sending in the paper application. That was rejected so I applied online. I canceled consolidation back in November so I had to wait months until I could apply online. After applying online I heard from Aidvantage three weeks later. Then 10 days from the letter they sent my consolidation would be completed.
Yeah I have started seeing that as happening with online applications as of 5/20. Nelnet not being listed as an option to chose. I have not seen any paper applications get rejected yet.
They won’t call me back or write me back and has rejected everything I’ve asked.
I mailed my paper forms to Nelnet for the final step 3 of the PPL double consolidation and have not heard back. Forms were received by Nelnet on 4/28 but no word yet. My online consolidation (chose EdFinancial as servicer) is being processed and I already received the consolidation summary letter by mail.
I didn't realize that we have to consolidate. All my loans are with Nelnet, so I assumed they were consolidated. So what you are saying is, the loans I habenin Nelnet should all become one loan? Does this mean if I don't consolidate that my chance to have loan forgiveness is not going to happen. I did email Nelnet and got a very confusing response. Urgh this is frustrating
I applied for the save plan under nelnet it didn't go through and I can't call because I work while they are open because in a different time zone. So I'm paying a month late 😢
Mohela sent me message that my PSLF IS MOVING to AiAdvantage!
Then after transfer I can go to student aid request Mohela!!! What!!!
I sent in a physical application to Nelnet. Consolidation will be complete 5/28. I also sent an application to Aidvantage, now they’re the problem.
@@briyanc2138 Nelnet got my application April 19th. I got a letter dated from them May 10th. Aidvantage 5/21 and they said I had to resubmit my application because they needed pages 1 through 5. Ummm I sent the same format to Nelnet no issues. Aidvantage must have lost my application pages and blamed me. I resubmitted online and should have picked a different loan service. Navient got paid by Nelnet but one of my payments was adjusted. They told me that information will reflect on Nelnets end. I am still waiting and Nelnet doesn't see the adjustment. So sick of calling all these people. I wanted my payments to begin right away and they put me on Forbearance.
Hi! …I’m on the SAVE plan with $0 payments until 6/2025; all Direct Loans. Should I consolidate for faster forgiveness? If going to the IDR plan my payments would be $205 per month with estimated payments through 2048. 😢 I consolidated before and started the clock over on direct loans that would already be 20+ years old.
If everything was already consolidated you don't have to consolidate again. The new IDR waiver consolidation doesn't reset the clock like it did in the past. The IDR waiver does a count adjustment so the clock starts with your oldest loans. SAVE is an IDR plan so you don't have to get on a different IDR plan unless you want to. A lot of servicers have not updated the consolidation information so if you consolidated recently, it looks like the clock started over but it hasn't. The government is just overwhelmed so your count adjustment might not show up until July or later. This waiver for consolidation was just extended, if you consolidate after the waiver, it's likely the clock would start over. If your loans are that old you might end up getting an email this summer that they will be forgiven.
My loan consilidation with nelnet is complete already just applied april 30 2024 i guess i was lucky
If you consolidate and you have Nelnet, your server is apparently moving to SLOAN
Nelnet is due to process my double consolidation on June 4. 🤞🤞🤞
is there a reason to consolidate the loans?
If you had undergrad loans in say 2010, payed on those then went back to college in 2016. You could consolidate the loans and it would make the date for everything start in 2010 rather than some starting in 2010 and some in 2016. So it could take 6 years off of the 20 or 25 year payment schedule on your loans as a whole. Hope that helps!
@@sphere6258 So If I have loans from 2005-2006 and then returned to school in 2016-2019 I should consolidate all the loans and they would be backdated to an earlier time?
The loan is in deferment and it is affecting my credit. Is that normal? I’ve never experienced this before and nelnet has my loan now. Any suggestions?
If your loans is in deferment and your not making payments and you have unsubstantiated loans, they are acurring interest. Meaning your balance is going up. It can affect your credit even though you are not required to make payments and are not past due & being reported as current.
Nelnet is now Sloan. Is that the issue?
That's a different issue. Mine was also transfered to SLOAN. That's because the loan type is not a DOE type loan since it was consolidated way back by a private bank, not DOE. Now we have to consolidate it again to mohella or nelnet so it's DOE owned.
@@downshift00 Ohhhh I see. Thanks!