I have like $150k in student loans after PhD. About $95k of that has 50ish months of PSLF applied to it while the rest does not. I am working for a nonprofit so I still qualify. Curious if anyone has consolidated a mix of loans with and without payments applied. It looks like they now do a weighted count towards the full amount if you consolidate. Rough math looks like I’d end up getting to keep 30ish payments towards the count.
Consolidation Experience
byu/FierceLittleThing inStudentLoans
Posted by FierceLittleThing
2 Comments
Used to work at nonprofit too before military so I get the PSLF thing. From what I remember the weighted average calculation can be worth it if you got enough qualifying payments already built up. 30 payments out of your existing count isn’t terrible especially if it gets all your loans in same program.
Just make sure you understand how they calculate it exactly because once you consolidate there’s no going back. Might be worth calling them directly to confirm the numbers before pulling trigger on it.
No rush to consolidate until you get close to 120 payments on the oldest one in order to take advantage of weighted averaging. Might as well see if they offer something in the future like they did 2 years ago, where they reset the count on a consolidated loan to the longest payment count.