I have $123K in SLs. These loans cover my ASN and BSN/MSN education. Part of the total is $23K in Parent Plus loans for my daughter.
I currently work for a qualified PSLF employer. (I worked for them for 37 months, left (less than 2 yrs), and was rehired 1 May). I have made only 3 payments which have all been since the restart after the pandemic. I had 3 general forbearances prior to the pandemic. (Other "forebearances" were for being back in school.)
IDR is a bad thing for me. Payments would increase. So I am on standard. I have not consolidated.
So here are my questions:
1.) If I consolidate, do I include the Parent Plus Loans?
2.) I have applied for the PSLF. So, the pandemic pause was 3 yrs 7 months...or 43 payments. The prior forebearances were 36 months. Total 'payments' 43+36=79. Is that how this is going to be calculated?
3.) From what I read, you have to work for the qualified employer for 10 years. I currently have 3 yrs 9 months. So I have to continue with them for 6 yrs 3 months before the forgiveness?
If the above is true, I would have made 78 payments in $ by the time my employment reaches the 10 years. I would also be 68 yrs old at that point. I guess that would render the forebearances a moot point since 78 payments plus 43 pandemic pause would be 121 "payments". It would save me almost $50k in the last payments/interest.
Where is my understanding incorrect?
Starting Score: 472
