Should I consolidate Parent PLUS and federal student loans before second year FAFSA?

DON'T consolidate these! Keep them separate. The Parent PLUS loan is in your parent's name and the federal loans are in yours. You literally can't combine them into one loan because they have different borrowers. Also, consolidating your subsidized with unsubsidized would cause you to lose the interest benefits on the subsidized portion. For your FAFSA, existing loans don't directly impact your SAI calculation.

The previous poster is correct about not being able to combine Parent PLUS with your Direct loans, but I want to add some nuance. While you shouldn't consolidate the subsidized and unsubsidized federal loans now, you might consider consolidation after graduation when you enter repayment. This could simplify payments and potentially give you access to income-driven repayment plans. For your upcoming FAFSA, focus on accurately reporting your family's financial information—existing loans don't affect your SAI calculation for the next year. The $15K additional need should be addressed by: 1) maximizing grant eligibility, 2) taking subsidized loans first if eligible, 3) unsubsidized loans, and only then 4) considering additional Parent PLUS for the remainder.

my brother tried to combine his loans and it was a HUGE mistake!! the interest went up and he lost all his subsidized benefits. just keep em seperate trust me

I was in a similar situation last year with multiple loans and needed more for my junior year. Here's what I learned after calling Federal Student Aid (which took FOREVER to reach someone 🙄): existing loans don't affect your FAFSA eligibility for the next year as long as you haven't exceeded aggregate loan limits. For your additional $15k, I'd recommend seeing if you qualify for work-study first, then max out subsidized loans before taking unsubsidized. Parent PLUS should be last resort because of the higher interest rate and origination fee.

Don't you still need to report all previous FAFSA loans on your application tho? I thought there was a section for that

this whole system is DESIGNED to be confusing on purpose!!! they WANT you to make mistakes so they can charge more interest. i consolidated my loans and now my payments are higher than my rent. don't trust the system!

One thing no one has mentioned - you should check if your school has any sophomore-specific scholarships you can apply for to reduce that $15k need. My school had several that weren't advertised well but I found by talking to financial aid. As for loans, keep them separate for now like others have said.

To summarize what everyone has said: 1. Keep Parent PLUS separate from your Direct Loans (they can't be combined anyway) 2. Don't consolidate your subsidized and unsubsidized loans while in school 3. For your additional $15k need, pursue in this order: grants/scholarships > work-study > subsidized loans > unsubsidized loans > Parent PLUS 4. Your existing loans don't affect your SAI calculation for next year's FAFSA 5. Be aware of aggregate loan limits ($31,000 total for dependent undergrads for Direct Loans) The best approach is to minimize borrowing where possible, and when you must borrow, prioritize the loans with the best terms (lowest interest, best protections).

Just wanted to add one more tip - make sure to submit your FAFSA as early as possible once it opens for your sophomore year! Priority deadlines can really impact how much aid you get, especially for state grants and work-study positions which are often first-come, first-served. I made the mistake of waiting until March my first year and missed out on some grant money. Also, if your family's financial situation has changed significantly since last year (job loss, medical expenses, etc.), don't forget you can appeal your aid package or request a professional judgment review with your school's financial aid office.