Your Parent PLUS Loan Questions ANSWERED [Jan 2025 deadline]

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CFP® Professional, Certified Student Loan Professional, and Senior Student Loan Planner consultant Meagan McGuire is answering some questions from our Parent PLUS Loans Facebook group, you can join that group here: / 1539701296489908

Meagan covers different repayment options for Parent PLUS loan borrowers as well as financial planning-related questions for people who have Parent PLUS loans.

0:43 First question is about filing “married filing separately” for taxes to lower Parent PLUS loan repayments
3:35 Second question is about submitting a new IDR form due to the SAVE plan being on pause
6:46 Third question is about the forgiveness dates on the loan simulator on StudentAid.gov website
9:03 Fourth question is regarding refinancing Parent PLUS loans to split between parent and student
10:30 Fifth question addresses if Parent PLUS loans will ever be eligible for income-based payment plans other than ICR without having to do double consolidation
12:27 Sixth question covers how long it takes Aid Advantage and EdFinancial to answer once they receive the initial consolidation paperwork
16:25 Seventh question covers how to make an interest-only payment on a Nelnet loan in deferment
17:49 Eighth question asks if a student wants to go for loan forgiveness can she apply for private loans and refinance to a federal loan