Can my very old student loan be forgiven?

First of all, your children are not liable for your debts. As far as discharging student loan debts in bankruptcy, you would have to prove that repaying them would constitute an "undue hardship" on you as that term is defined by applicable case law. In the Ninth Circuit, which includes New Mexico, this requires that you prove: 1. that you cannot maintain, based on current income and expenses, a 'minimal' standard of living for yourself and your dependents if forced to repay the loans;  2.  that additional circumstances exist indicating that this state of financial affairs is likely to persist for a significant portion of the repayment period of the student loans; and,3.  that you made good faith effort to repay the loans.    Another option is to file a Chapter 13 bankruptcy case and just pay what you can afford for 5 years; then file another Chapter 13 after that to prevent any collections actions by the student loan agency. You should start by having a consultation with a bankruptcy attorney in your area to explore your options and see what you're eligible for. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.