Thought I’d post this since it may be of importance to some here.
New rules mean that parent PLUS loans have to be consolidated into a new loan by June 30 for parents to keep affordable payments. But the deadline is really earlier to allow time for processing.
Because of new rules on student loans, parents who borrowed federal parent PLUS loans and want to keep monthly payments low need to apply soon to merge the loans into a new loan — a step known as consolidation. That will keep them eligible for a plan that bases monthly payments on their income as well as for loan forgiveness programs.