Any student loan forgiveness options for seniors who’ve been paying a long time?

Education Forums
1

I’m 69 and have been paying on my student loan since around 1999. The loans started with Sallie Mae, then went to Navient. Some of the loan was for my daughter’s education, the rest for my grad school. Is there any program out there that might forgive these loans for someone my age?

2

You might want to look into the Income-Driven Repayment plans. They offer forgiveness after 20-25 years of payments, so you might be close.

3

Jaden said:
You might want to look into the Income-Driven Repayment plans. They offer forgiveness after 20-25 years of payments, so you might be close.

I haven’t been on an income-based plan, just regular payments. Do those years still count?

4

Jaden said:
You might want to look into the Income-Driven Repayment plans. They offer forgiveness after 20-25 years of payments, so you might be close.

There’s something called the IDR Adjustment that might count older payments toward forgiveness. Worth checking!

5

If your loans are federal, there could be options like Public Service Loan Forgiveness (PSLF), especially if you’ve worked for a government or nonprofit.

6

Noor said:
If your loans are federal, there could be options like Public Service Loan Forgiveness (PSLF), especially if you’ve worked for a government or nonprofit.

Unfortunately, I haven’t done public service work. But thanks for the suggestion!

7

Do you know if the loans are federal or private? Federal loans typically have more forgiveness options.

8

Mai said:
Do you know if the loans are federal or private? Federal loans typically have more forgiveness options.

I think they might be federal since they were with Sallie Mae and then Navient. I’ll have to confirm.

9

Mai said:
Do you know if the loans are federal or private? Federal loans typically have more forgiveness options.

If they’re federal, you can check studentaid.gov to find all the details. Just log in with your FSA ID.

10

There’s a Total and Permanent Disability discharge if you’re unable to work. Could be worth looking into.

11

Jensen said:
There’s a Total and Permanent Disability discharge if you’re unable to work. Could be worth looking into.

Thanks, didn’t know that was an option. I’ll check if it applies to me.

12

Some non-profits or credit counseling agencies can give advice on student loans. They might be able to help you find options.

13

Hollis said:
Some non-profits or credit counseling agencies can give advice on student loans. They might be able to help you find options.

That’s a great idea. I’ll look up some local agencies to see if they offer student loan help.