January 25, 2018
Hi, I am new here and find the forums very informative. I have a question re:IBR. My husband has 2 Consolidated loans (FFEL as far as I know) with 2 different lenders. One has a big amount and the other one a smaller amount. His income increased and he will have to recertify soon. I am sure that the big amount loan will qualify for IBR but how about the loan with small amount? Will the servicer consider the other loan or just the once they service? Another question is that, can he consolidate his (2) already consolidated loans (without taking out any new loan). Thank you very much.
May 3, 2014
The one big loan and one small loan won’t matter for IBR calculation purposes. The calculation is based upon total federal debt, not a loan by loan basis. Consolidating again will not make a difference.
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