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Federal Parent PLUS loans can qualify for Public Service Loan Forgiveness (PSLF), but it is a little complicated. Parent PLUS loans do not qualify for the limited PSLF Waiver. or after 7/1/2006, is included in a Federal Direct Consolidation Loan and is repaid in ICR while the borrower works full-time in a public service job.What happens if I have just one parent PLUS loan?
Even if you have just one Parent PLUS loan, you can consolidate the loan into a Federal Direct Consolidation loan through the Department of Education. This may seem silly because consolidating the one loan doesn’t change the interest rate, it really is nothing more than a name change.Does a consolidated loan count as a Parent PLUS loan?
Even though the consolidated loan contains a Parent PLUS loan, as a consolidated loan, it is eligible for the Income Contingent Repayment Plan. Unfortunately, consolidation will not help Parent PLUS borrowers gain eligibility for the preferable IBR, REPAYE, and PAYE plans.Are Parent PLUS loans the Black Sheep of student loans?
Parent PLUS loans are in many ways the black sheep of the federal student loan system. Federal loans are usually considered to be far superior to private loans, in part because of the great repayment plans and forgiveness programs that are available through the federal government.