Relief options if you’re in debt from your kid’s education

By ELIZA HAVERSTOCK of NerdWallet

Federal parent PLUS loans have become a last resort for many lower-income families paying for a kid’s college education. Today, parent PLUS loan debt totals $108.5 billion among 3.7 million borrowers, and the average borrower owes more than $29,000. Nonetheless, policymakers often overlook these loans when it comes to federal relief and forgiveness, including for a new repayment plan, which promises to cut undergraduate student loan payments by half or more for other federal borrowers. Though the latest payment plan overhaul won’t help parent PLUS loan borrowers, here are other options for relief.