In order to qualify for the Pay As You Earn Plan, your loans must meet the following criteria:
-No loans before 7/1/07 (or have your loans paid off before you get a loan on or after this date)
-One Direct Loan after 7/1/11
-Must be Direct Loans
Now if you consolidate your FFELP loans they will become eligible for PAYE. This is additionally true for Perkins Loans. But if your FFELP loan is too old it will make you ineligible for PAYE.
Is this the same thing for the Perkins?
Perkins loans do not affect PAYE eligibility. So as long as your Direct and FFELP loans inside your consolidation meet the age requirements you can have a Perkins loan was from 7/1/07 and still qualify for PAYE.
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