Educational Resources and Training - For Student Loan Borrowers & The People Who Love Them
You are here: Home :: Forum Home :: Have a question for Heather? Post it here. :: Public Service Loan Forgiveness :: Thread
Do Parent Plus Loans Qualify for Public Service Loan Foregiveness?
I work for a university and would like to know if I am eligible to apply for PSLF if I have a Parent Plus Loan for my undergraduate children?
Hello Stan, yes Parent PLUS loans are eligible for PSLF. However, they are not eligible for IBR or ICR. The only other repayment plan that would count as qualifying payments would be the Standard 10-year repayment which would result your loan being paid in full before forgiveness. You would have to consolidate your loans at which point you will be eligible for ICR, but not IBR. For this to work for PSLF your ICR payment would need to be less than your Standard 10-year payment.
-Wayne
Wayne, you are my hero. Thank you for helping with the forum. You rock.