The SORT — June 2: Parent PLUS Deadline Looms
A critical loan-consolidation deadline is four weeks away, and high school seniors just shattered the FAFSA completion record.
Parent PLUS Borrowers Have Until June 30 to Preserve Income-Based Repayment
The deadline for existing Parent PLUS loan borrowers to consolidate into a Direct Consolidation Loan — and preserve access to income-driven repayment — is June 30, 2026. Under the One Big Beautiful Bill Act, the Income-Contingent Repayment plan closes to new enrollees on that date; without prior consolidation, Parent PLUS loans cannot qualify for any income-based plan. Federal loan servicers note the consolidation process typically takes four to eight weeks from application to disbursement.
Why it matters: After June 30, Parent PLUS borrowers who have not consolidated permanently lose access to income-driven repayment plans and any associated path to loan forgiveness.
Source: MEFA
Class of 2026 Sets All-Time FAFSA Completion Record — Two Months Early
As of May 1, 54.7 percent of high school seniors in the class of 2026 had completed the FAFSA, setting an all-time record, according to the National College Attainment Network (NCAN). The class cleared the previous record of 54.4 percent — held by the class of 2018's full-year total — with two full months still remaining before the June 30 federal deadline. NCAN credits the milestone to an early September FAFSA launch, faster identity verification on StudentAid.gov, and mandatory completion laws in nine states.
Why it matters: Seniors who have not yet filed still have until June 30 to submit a 2025-26 FAFSA and qualify for federal, state, and school grants.
Where do you stand?
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