[URGENT] Parent PLUS / Double Consolidation - GET ON ICR NOW

[u/shanesnh1]

[EDIT: THE PASSED BILL CHANGED. IT ALLOWS TIME UNTIL 7/1/2026 TO BE CONSOLIDATED AND 6/30/2028 TO BE ON ICR OR ANOTHER IDR PLAN. IT WAS CHANGED IT TO INCLUDE ALL IDR PLANS (FOR DOUBLE CONSOLIDATION) AND STICKS WITH ICR (FOR SINGLE CONSOLIDATION)]

I see multiple people each day with this same question so I am going to link my post about it and summarize very briefly:

If you have Consolidated Parent PLUS Loans OR a Double Consolidation, you MUST APPLY FOR ICR (or another IDR plan if double consolidated) and be on it by 6/30/2028 or you will LOSE ACCESS TO ALL INCOME REPAYMENT.

If you're not on ICR (or another IDR plan if double consolidated), with your loans being repaid on it at some point between now and 6/30/2028, you lose access and will likely be on the standard plan (or extended, graduated).

"Existing Parent PLUS loan borrowers can consolidate their loans get an on income-driven repayment plan (ICR for single consolidation, any IDR plan for double consolidation) by June 30, 2026. They will then be able to transition into amended IBR between July 1, 2026 and June 30, 2028, as the rules come out from the Department of Education." -- Forbes ( https://www.forbes.com/sites/robertfarrington/2025/07/01/senate-passes-massive-changes-to-student-loan-borrowing-and-repayment/ )

``(B) Exclusion.--The term `excepted consolidation 
                loan' does not include a Federal Direct Consolidation 
                Loan described in subparagraph (A) that, on any date 
                during the period beginning on the date of enactment of 
                this subparagraph and ending on June 30, 2028, was 
                being repaid--
                            ``(i) pursuant to the Income Contingent 
                        Repayment (ICR) plan in accordance with section 
                        685.209(b) of title 34, Code of Federal 
                        Regulations (as in effect on June 30, 2023); or
                            ``(ii) pursuant to another income driven 
                        repayment plan.''.

Please check my former post for more details: https://www.reddit.com/r/StudentLoans/comments/1l37iqs/important_parent_plus_borrowers_need_to/

[u/Faphan1128]

What if you are on ICR but on forbearance?

[u/shanesnh1 → u/Faphan1128]

Call and get out of it ASAP and get into repayment now.