Two studies were conducted to examine the relationships among need for closure (NFC) and schematic information processing in younger and older adults. The results show increased NFC to be associated with less schematic processing (i.e., less memory for schema-consistent items, and more memory for schema-irrelevant items, out of all items memorized correctly), among older than younger adults. The findings of the studies are interpreted as demonstrating the age-associated deficit in information processing consistent with the level of NFC. Moreover, the results indicate that positive mood may play a role in facilitating information processing consistent with the level of NFC among older and younger adults. Finally, we present a framework for predicting when older adults will and will not effectively use schematic processing, considered a compensatory strategy for decline in cognitive abilities.