2010-2011 PARENT PLUS GRAD PLUS LOAN INFORMATION-2025

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Generally, youll have from 10 to 25 years to repay your loan, depending on the repayment plan that you choose. Your required monthly payment amount will vary depending on how much you borrowed, the interest rates on your loans, and your repayment plan. Choose a repayment plan that best meets your needs.
In addition, parent PLUS loans arent eligible for some other types of federal student loan forgiveness programs. To get around this, some borrowers go through two or more federal consolidations to hide the origin of the loans, then request an IDR plan. This process is often called the double consolidation loophole.
The Double Consolidation Loophole for Parent PLUS Loans is a strategy that reduces your monthly payments through better income-driven repayment plans (such as PAYE, IBR, or SAVE) achieved by consolidating your loans twice.
If youre a parent or graduate student seeking a Direct PLUS Loan, one of the requirements to qualify is that you must not have an adverse credit history.
The Bottom Line. Yes, borrowers with Parent PLUS Loans can have their debts forgiven after 10 years (or 120 eligible monthly payments) with the PSLF program.
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If you work full time for a government or nonprofit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after youve made 120 qualifying paymentsi.e., at least 10 years of payments. To benefit from PSLF, you need to repay your federal student loans under an IDR plan.
You can check the status of your Direct PLUS Loan for parents or Direct PLUS Loan for graduate or professional students application in three ways. Log in to your StudentAid.gov account and check My Documents to see if your PLUS application is on file. Call your school for an update on your PLUS loan award.
Here are four methods you can try for working toward parent PLUS loan forgiveness, depending on your personal situation. Income-Contingent Repayment (ICR) Public service loan forgiveness (PSLF) Career-based loan repayment assistance programs. Refinance parent PLUS loans in your childs name.

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