Parent loans

It s there any programs for debt forgiveness with patent loans

I have not heard of any, but I would contact the loan provider to check!

Hi Sandra,

Unfortunately, Parent PLUS loans have some of the fewest options when it comes to forgiveness, but there are a some options.

To qualify for most forgiveness programs, you’ll need to first consolidate your Parent PLUS loans (but not any loans you took out yourself as a student), then apply for income-contingent repayment (ICR) plan.

From there, you can either stick with the ICR plan, but forgiveness takes 25 years (and you still get hit with taxes for the remaining amount forgiven). The other option is available to those who work in a public service job (you the parent must work in public service, not your child). If you’ve heard of PSLF, you’ve probably heard about the low acceptance rate, so you’d need to follow the rules carefully.

And it may not be an option, but is there any way the college grad could take on the loans themselves? They’d have to be the one to initiate the process, but your kid can refinance Parent Plus loans in their name to take the burden off you.

Here’s a Penny Hoarder article with more information about Parent PLUS loan forgiveness — hope it can help:…us-loan-forgiveness/