Parent Plus Loans
I am looking to see best way to handle my Parent Plus Loan. Started at 60,000 and now with interest is at over 71,000 payment was starting in 2018, then covid hit, so payments delayed.
Then when they needed to start I couldn’t and still cannot afford. I tried to do income based and it said $41 but not sure if correct. I am almost 62 and want to retire by 67-What is best way to handle repayment of loan. I listen to you a lot on WGN and always find good tips.
Terry Says
You are probably in a very good position to get into an income-based repayment plan. But this is tricky, and so I always recommend working through my college expert Rae Kaplan. They charge an upfront fee — but I think it is worth it to get smoothly into the right plan to reduce your monthly payment (and perhaps ultimately forgive your balance).
