The growing debt from Parent PLUS loans has become a significant financial burden for many older Americans. With limited repayment options compared to federal student loans for students, these loans often carry high interest rates and lack income-driven repayment plans tailored to parents. As a result, many borrowers in their 50s, 60s, and even 70s are forced to use their retirement income or delay retirement altogether to make monthly payments. This growing trend underscores the long-term impact of financing higher education through parent loans and raises concerns about financial security for aging borrowers.
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