Forbearance

 

What it means:
A student loan forbearance allows you to temporarily postpone your monthly payments under certain circumstances, such as:

  • Unemployment
  • Temporary financial hardship
  • Natural disaster
  • Military deployment  

Eligible loans:
All loans in the Federal Family Education Loan Program (FFELP):

  • Stafford Loans
  • Supplemental Loans for Students (SLS)
  • PLUS Loans
  • Consolidation Loans

 Many private loans, depending on loan type and loan servicer 

Paying interest:

All loan types – The borrower is responsible for paying the daily interest accrual during periods of forbearance

 

 

Requesting a forbearance:
 
Start HERE to apply for forbearance without logging in
Select Lender:
  Don't know your lender?
 
 

Remember, you must request forbearance in order for it to help you. The lender or servicer does not automatically grant forbearance.

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