My daughter graduated from Gonzaga University in May 2013. Although she received grants and other assistance, she accumulated about $20,000 debt, herself. And I took out $80,000 in Parent Plus federal loans. My monthly payment is $630, with 8.1% interest over the next 25 years. I plan to use my retirement to pay off loans. Luckily, my son went to local community college and we have only borrowed about $6,000 in Parent Plus loans so far. My two youngest kids are several years away from college, and I told them all my kids that we'd just do the best we can for them.