Hopefully this doesn't break any sub rules – apologies if it does.
I've seen a few others age 60 and up here like myself with loans that will outlive us, in situations where we just don't know how we're going to cope with the end of SAVE (other than starve, become homeless, or both). I don't know that there's anything we can do really other than support each other and share ideas and stories – which is why I wanted to start this thread.
I'm 60, expect to be working until I drop dead, zero family, zero savings, and born and raised in a HCOL area (so there's no "home" to "go back" to – Los Angeles is it). Even on SAVE my payment was barely manageable, on RAP it's going to be near impossible, and forget about any of the other plans. My hope is that by going to community college half-time to study something I'm interested in will put me in deferral long enough for a new administration to come in. It's a very thin hope but all I've got right now.
Anyone else??
who else is over 60 and freaking out over July 1?
byu/chat_manouche inStudentLoans
Posted by chat_manouche
2 Comments
[removed]
I’m trying to be realistic. I’m almost 65, was on PAYE, would have been done at age 73, now 78 because PAYE is being axed. I imagine by the time I am in my 70’s I won’t be all that capable of meaningful employment. So at that point, a medical professional will hopefully vouch for that and my loans will be forgiven. That is the only plan that helps me maintain hope at this point. And any of you that thinks that’s not fair? I intended to pay my loans according to the terms the government offered me over a decade ago. They backed out of the agreement, not me. If they reinstated the agreement I would be on board with honoring the same agreement.