I have about $170k in Parent Plus loans. Most are FFEL Plus, a couple of Direct Plus and a FFEL consolidated. The loans are all in my name. However, my wife is a school teacher.
Could we:
1. do a Federal Direct Consolidation Loan with the loan being in her name,
2. pay under ICR for 120 payments while she remains a teacher or in another qualifying public service job
3. have the remaining balance forgiven, tax free?
I’m concerned about the loans being in my name but being transferred to her name maybe causing a problem, but then they will ask for our joint return each year, it appears.
You can still consolidate and do the ICR....they will check your combined income thru the IRS yearly.
Sub: #1 posted on Tue, 11/22/2011 - 14:12
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Sub: #2 posted on Tue, 11/22/2011 - 20:52
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Sub: #3 posted on Tue, 11/22/2011 - 21:51
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deleted..no personal,or solictory info...PM
Sub: #4 posted on Mon, 11/19/2012 - 10:10