You need to picture yourself being 60 and her being 66. At that age, your age difference will disappear.

Age gaps are relative to absolute age.

Say, when I was a teenage girls, several boys were in love with me who were about 5 years younger than me. I realized that they were in love with me, but did nothing other than being nice to them because it was not actionable (one of them is currently a friend of mine via infrequent correspondence, and another is a VERY close friend of mine via frequent correspondence).

Now, if I meet a guy 5 years younger than me and we somehow click, I would act on it because at my current age a 5-year-age-gap is not a showstopper. But between a teenage girl and a boy 5 years younger than her, the 5-year-age-gap was a showstopper.

What gives you cold feet now, btw, is not "age gap" but "status gap" - she has a Master's degree and you are still in college.

Just making sure you understand what is going on.