Hello thank you very much for your response. On the payment during covid, I just did that on my own and they did not say no so…I just assumed since I was fortunate to still have a job when millions were let go, I should continue with paying. the loans were (or should have been) standard ones, early on I recall Pell or/and stafford loans.

Hi Kathleen,

Generally speaking, federal student loans work surprisingly well for borrowers in retirement. I’ve worked with many borrowers who feared they would have to delay their retirement due to student debt, but instead, they qualified for $0 per month payments and a path to forgiveness.

The fact that you had to make payments during Covid has me a little concerned that these are either FFEL loans or they are private loans. If they are FFEL loans, they can be fixed, but private loans will have far fewer options available.

I think we should clarify something before I try to answer your question.

There is the Public Service Loan Forgiveness Program, but if you are in that program, your loans should get forgiven after 10 years.

There are also income-driven repayment plans, but you don’t need to be in a public service job to enroll in one of these plans.

What is it you would like to know about these programs?

Hi Mary,

Whether or not forgiveness is possible after retirement depends upon whether or not you have federal loans. If your loans are federal, it is definitely possible. Borrowers living on social security have a great shot at getting their federal loans forgiven.

As for speaking to someone, unfortunately, I don’t have time in my schedule to take on individual clients. Instead, I focus on this site to reach as many borrowers as possible.

Best wishes,

Michael