Took out Plus Loans when son and daughter were attending college in the 90’s. We are still paying on them and now in our 70’s. We have about $8,000 left on the loans and since we still have a mortgage, it would help significantly if we didn’t have this debt. We are both on Social Security.
Is there anyway for this debt to be forgiven at our age?
I’m not aware of any specific program for those who retire with this type of debt. However, if you are disabled, then the loans could be forgiven. If your income has dropped, then either enrolling in or adjusting an income based repayment option would be logical at this point. See The Ultimate Guide to Dealing With Student Loans You Can’t Afford.
Of course the fastest way to eliminate the debt is to pay it off in full to avoid further interest.