Get free help preparing your taxes from AARP Foundation Tax-Aide. Find a location


You Could Choose Your Dream Vacation

Contests and

AARP’s Superstar
2015 Contest

Sing for a chance to win $5,000! Enter AARP’s Superstar 2015 Contest!
See official rules.

Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular


Pay Down Your Debt Challenge

Tackling Student Loan Debt

Keep your credit and your children's intact by getting college loans under control

Phase 3: Explore Deferred Payment Options
If you or your child isn't working, look to defer student loan repayments until gainful employment is obtained. Deferment or forbearance options will give you (or your child) a little breathing room by either changing the terms of the original student loan agreement, or letting you delay making payments for a fixed period of time. Be aware, however, that the longer you defer payments, the more interest charges you'll rack up.

"If your children don't have jobs lined up right after graduation, requesting a six-month deferment on their student loans will help buy a little extra time and save your credit score in the process," says Ryan. "You can contact your loan servicers for information on how to do this."

Tip: Sallie Mae, the nation's largest student lender, offers deferments for more than a dozen scenarios, including unemployment, the birth of a new child, volunteering at a nonprofit agency and extreme economic hardship.

Tackling large student loan debts can seem burdensome at first. But with the right strategies and some persistence, you and your family can wipe out these debts.

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, television and radio personality, and a regular contributor to AARP. You can follow her on Twitter and on Facebook.

Also of interest: Become debt-free this year. »

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts


Please wait...

progress bar, please wait


Tell Us WhatYou Think

Please leave your comment below.

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

membership benefit financial college aarp

Advice on saving for education from AARP® College Savings Solutions from TIAA-CREF.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

member benefit aarp financial service auto insurance

AARP® Auto Insurance Program from The Hartford offers members no-cost quotes.

Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Being Social



Savings Challenge

Have the gift of thrift? Share your tips. Discuss

Hand holding credit cards

Pay Down Your Debt Challenge

Join our challenge July 18-Aug. 14 and start your debt-free journey. Discuss