Thanks to great advice I received on here, I recently skipped trying to do the "parent plus loophole" process and I instead consolidated my 8 parent plus loans with Aidvantage. Just a week after submitting the application, I received what I think is confirmation that the application was accepted, but that seems like a really short turnaround. The papers came from aidVantage and they start with "Attached is your Direct Consolidation Loan Summary Statement." However, on studentaid.gov, it still shows the app. status as "pending". Does anyone know how this works? And, if they did accept my application, what should my next steps be? I'm currently on the standard repayment plan but I'd like to get into a plan that lowers the monthly payment. Any advice would be greatly appreciated!

    Next steps after consolidating Parent Plus loans with aidVantage?
    byu/Crafty-Yak-1670 inStudentLoans



    Posted by Crafty-Yak-1670

    1 Comment

    1. Present-Storage-8820 on

      congrats on getting through consolidation process! the summary statement usually means you’re approved even if website still shows pending – those systems take forever to sync up, next step would be applying for income driven repayment plan once everything fully processes

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