Ask Terry Questions Parent plus loan

Parent plus loan

By Terry Savage on March 14, 2020 | College Savings / Student Loans

Can we pay just the interest on our Plus Loans? We are retired and living on one pension and Social security check.

Terry Says

Oh, this is terrible. I have seen that Social Security is deducting amounts from retirees’ Social Security checks to pay PLUS loans! Can you refinance your house? Is there anything you can sell to get out from under the high interest rate burden of these loans? I hope so, because this is an impossible situation.

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