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PSLF and Expanded PSLF Waiver Consolidation Questions

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  • PSLF and Expanded PSLF Waiver Consolidation Questions

    My wife and I are both employed physicians working for 501c3 nonprofit PSLF eligible organizations.
    We each have Direct Student Loans held by FedLoan for medical school which are on track for PSLF eligibility in 2025.
    We each also have FFEL Student Loans -
    Hers from Grad School held publicly currently by FedLoan
    Myself from Undergrad which are held by Navient privately

    With the Limited PSLF Waiver I understand we should consolidate our FFEL loans to direct loans to gain the ability to have these loans forgiven as well

    My Questions are:
    1. We should consolidate the FFEL loans with our current Direct Loans to gain more eligible months in repayment, correct?
      • For example if the FFEL Loans had 8 more months of qualifying payments than the Direct Loans which have 80, then the new consolidated direct loan count would be 8+80=88 total?
    2. Is it possible to consolidate our loans together (husband and wife into 1 massive direct loan) to take further advantage of this?
      • I realize this is a risk if one of us dies but would be easily covered by term life insurance in the unlikely event and would definitely want to look at the details to calculate the risk / reward
    3. Does consolidating into direct loans affect at all restrictions preventing participation in PAYE due to loans dispersed prior to 10/1/2007?
    4. Any advice on timing of consolidation - now vs waiting until May assuming payments restart - to take advantage of forbearance while consolidation is occurring for 1-2 months

    Thanks!
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