October 31, 2023
Retirement & Student Loans: A Growing Crisis
A couple facing retirement in six months is struggling with $190,000 in student loan debt. Experts suggest exploring options based on whether the loans are federal or private. Federal loan holders may benefit from income-driven repayment plans like income-contingent repayment, income-based repayment, PAYE, or REPAYE, which can significantly lower monthly payments and offer eventual forgiveness (though potential tax implications should be considered). If the debt is for children, the author suggests a difficult
