At this time, I have loans in Nelnet. But I also have another set of loans in Mohela.
The reason why I have loans in Mohela, is because those loans were originally in Nelnet, but I transferred them to Mohela because I applied for the SAVE program, my understanding is that there was basically a consolidation of loans.
And my dumbass missed some deadline that would’ve allowed me to remove the remainder of my nelnet loans and move them to Mohela to consolidate all my loans together.
But now SAVE is dead. And now I have a set of loans in Mohela and another set in Nelnet.
Regarding my loans that exist right now in nelnet, is there any possibility that I can consolidate them with my Mohela loans?
If not then should I just accept the fact that I’m gonna have two separate sets of loans?
And if that’s the case regarding my nelnet loans , should I just then switch the nelnet loans to the IBR program? I currently work at a nonprofit and make between 50 and 100 K a year.
Should I switch my loans in nelnet from standard repayment to IBR?
byu/Knxwledg inStudentLoans
Posted by Knxwledg
2 Comments
You don’t control who services the loans. IBR is a payment plan. You apply through FSA site and they send your app to your servicer to implement. If you’re at a non profit, are you seeking PSLF? If so, you should submit the PSLF employment cert through FSA site to get qualifying credit for your payments.
You have no reason to consolidate, just keep them as they are. It will be the same payment each month while on an IDR plan