"I don't have any retirement savings,"
"I don't see any other way than working up until my last day."
"I don't know what's going to happen with this. I think that's my biggest anxiety, is the uncertainty,"
"I would like to plan for retirement, but I don't see a path forward right now, given that debt."
Federal student loan changes will be implemented beginning this summer, creating uncertainty for borrowers. Many borrowers report that uncertainty makes retirement planning difficult. Some retirees report that outstanding student debt is causing both financial hardship and emotional strain. Jordan Hendrickson, 54, earned a doctorate in psychology in 2013 and initially accumulated about $350,000 in federal student loans covering undergraduate and graduate degrees. She qualified for Pell Grants but relied on federal loans for remaining costs. She now works two jobs, one qualifying her for Public Service Loan Forgiveness, and is about halfway through PSLF payments. Her balance is just over $500,000, and proposed narrowing of PSLF eligibility is causing anxiety and fears of decades-long repayment.
Read at Business Insider
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