Parent is actively undergoing cancer treatment. Loans are double consolidated but pre October 1, 2007. We have not applied for the cancer deferment due to the SAVE forbearance. Should we go ahead and take action to make the switch off of SAVE and send in the cancer deferment. Any reason to wait it out closer to July?
How to handle double consolidated PPL loans coming off of SAVE right now during cancer treatment
byu/Necessary-Mirror-315 inStudentLoans
Posted by Necessary-Mirror-315
2 Comments
Id apply for that deferment now. It counts towards forgiveness
To lock in future eligibility for IBR, your parent needs to be in repayment and make 1 payment on an IDR plan between now and June 30, 2028. Because they double consolidated, they can go right to IBR, but just make sure they make a payment on it between now and June 30, 2028.
That said, cancer treatment deferment counts towards forgiveness so they should use that as much as possible. Just make sure they meet the eligibility requirement for IBR in the coming years to keep access to IBR beyond July 2028.