Have loans in 3 different names - Figuring out how to best go about paying them

I for some reason took out Parent PLUS Loans in both my mom and dad's name. I know these are in my parents name but I will be the one repaying them. I also have federal loans in my name. I want to use the double consolidation loop hole to apple for the SAVE program. My first question is would it be best to keep all these loans separate and not consolidate into one big one. My worry is having 3 separate loan payments each month. My debt is around $75k total split between our 3 names,

I know I could do the loop hole for the loans in my dads name bc I have 5 separate PLUS loans which I can consolidate twice. For the ones in my moms name I only have 2 PLUS loans in her name bc for some reason sophomore year I decided to use her name on the loans (FYI I took out all the loans in my parents name with the agreement that I would pay them when I finished school). Those 2 loans are $8,500 total. My siblings also have loans in my mom's name but they already consolidated them separately on their own. Can I sill use the loophole for those 2 PLUS loans in my mom's name- if yes how? If I can't would the Income Contingent Repayment Plan be the best option? It would be based on my mom's income though right?

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Posted Sep 21, 2023, 5:16 PM UTC

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