So you've made the decision to transfer your Parent PLUS Loan to your child. That's great news! Many parents choose to do so in the years after their child graduates. That's because while the payments may seem doable at first, it's sometimes difficult to pay off the debt over time, particularly as you reach retirement age.

However, not all lenders allow you to transfer your loan burden to your child. Laurel Road is one of the few exceptions. Let's take a look at their application process. 

Despite rising tuition costs, getting a college education is the best possible way to make a better living. On average, college graduates earn 56% more than those who only get a high school education, according to data compiled by the Economic Policy Institute.

But post-college graduation, there tends to a rude awakening: Graduates today are saddled with an average of $37,172 of student loan debt, and it takes the average borrower 19.7 years to pay off their loans. 

Your salary is determined by many factors, including your experience and education. But have you ever considered the possibility that your personality also impacts how much you're paid?

Turns out, there is real data backing up the idea that your personality does indeed impact how much money you make.

Transferring your Parent PLUS Loan to your child is a big move. As you retirement age approaches, though, there's definitely good reason to want your now-adult child to assume the debt for their education. 

SoFi, a leading student loan refinancing lender, is one of just a few lenders that offers a fast and easy Parent PLUS loan transfers. Here, we'll walk you through the process to complete the transfer online. 

Late or missing student loan payments have serious consequences. In addition to the late fees you'll start to rack up, late payments on federal loans affect your credit after 90 days. After 270 days, your student loans will go into default.

If you're having trouble making your high monthly payments, the good news is getting relief is possible. If your loan servicer is NelNet, one of the several companies the federal government contracts with to handle student loan payments, there are three specific ways to lower your payments. 

Let's explore the options.