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ercshaemis2017

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Age,62;paying 8% Fedrate on $81K in Parent PLUS loans;No assets;Is alternate financing available ?
My age is 62 with a small 401(K).I have no home, no pension, and no real assets.My annual salary goes quickly paying typical expenses, as well as continuing to assist my children and separated spouse with monthly expenses. Out of my salary I place $12,500 aside into my 401(K) annually. I live in an apartment. When I turn 65 my monthly social security will be $2500. I also currently pay $606 a month for a $81,000 parent PLUS loan at an 8% Fed-rate over the next 27 years. The PLUS loan payments are onerous on my finances and difficult for me to maintain. I have a car loan and an outstanding personal loan for my children's previous graduate school expenses. Is there any way to re-finance the PLUS loan so I can place more money aside for my future? Any other creative ideas or suggestions would be appreciated. Thank you.

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