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60 something woman with student loan debt and little retirement

Total Posts: 1

Joined 2016-09-07

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Hi Heather,

I’m a T.A. with Bari Tessler’s Art of Money Program.  She suggested I reach out to you regarding a woman I am working with who is in her early 60s, has little retirement saved, and has about $50,000 in student and parent plus loans.  She said that she’s been paying interest only for about 14 years, and has paid well over the original amount of the loans since that time, but is not making a dent in her principal. 

She is wanting to take about 1/2 of her retirement savings to pay off the student loans- which I would hate for her to do.  I wanted to check with you in case you know of any options for her.

She is a speech therapist in a nursing care facility. 

Thanks so much,

Carrie