I just graduated last May, 2011, and began paying off my student loans in June. I have been paying off my student loans under the IBR program. I work for a non-profit and am hoping to have my loans forgiven after ten years. My parents took out a Sallie May parent plus loan on my behalf for an earlier degree, almost ten years ago. My parents currently owe $30,000 on the loan. I would ideally like to take the loan back, and consolidate it into my current loans under the IBR plan so that it too can be forgiven after ten years of public service. Is this possible? I contacted Direct Loans Servicing and received conflicting answers from different departments there, some telling me this was not possible and others saying it was possible if I have the loan transferred to my social security number. I would appreciate any information you can provide. Thank you for your help and your great website!

I understand how you feel. As far as I know, its not possible to transfer the loans of your parents even if it was for your studies. What you can do is find a job and work to help your parents pay the loan. Student loans are becoming the number one source of debt for Americans. Not long ago, that burden belonged to credit cards. Federal loans come with a lot of strings connected. For all the strings, though, the loans are intended to help motivate education and advanced degrees. Graduate university students, in 2012, will be expected to start paying down $18.1 billion in student loan interest.Graduate student loans to lose interest subsidy. The deal does not change borrowing limits, but it does change what students are responsible for in the end as student loans are designed to help students pay for university tuition, books, and living expenses.