I am a single Mother who raised 3 children.  My oldest is 41 and went to college when things were cheaper and simpler for the students/parents. My oldest daughter paid off her student loans and I never had to borrow as a parent. My last two are 26 and 24 respectively…..I have $77,000 in PPL…..$66,000 in Sallie…..PPL is around $600 per month and Sallie Mae is around $900 per month….I am so discouraged over the cost and repayment of these loans….it leaves me completely strapped.  I realize I am accountable for the choices I made so I don’t want anyone to lecture me….thank you….I need some direction on how to get these to a more manageable place.  What are my options?  How do I avoid going into bankruptcy?  It is very discouraging…..

Parent Plus loans have some repayment options to make it easier. Sounds like you are on a standard 10 year repayment. I believe you can be on a 20-year or 30-year plan which will lower your monthly payment but you have to pay more overall. They don’t qualify for any of the income based plans, but you can do a trick to make them qualify. If you consolidate them into a direct consolidated loan, then you can be eligible for ICR which is income contingent. Then, your monthly payments are maxed at a percentage of your income. If you work at a qualifying organization, I believe the consolidated loan would be eligible for forgiveness after making 10 years of payments. Hope this helps!