Forbearance2017-07-14T14:15:16+00:00

What to Know About Student Loans

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Loan Forbearance

During a forbearance, your loan holder may reduce or suspend your regular loan payments, or extend your repayment period. Forbearance is a temporary postponement or adjustment in repayment granted at your loan holder’s discretion, usually because you have a financial hardship and don’t qualify for a deferment.

  • Things to keep in mind
    • Generally, request a deferment before a forbearance.
    • The federal government will not pay the interest that accrues on subsidized loans during a forbearance period.
    • Contact your loan holder as soon as you realize you are experiencing financial trouble. They are there to help you.
  • Requesting a forbearance
    Contact your loan holder. Remember that a forbearance request must be approved before your payments will be postponed or extended.

For more information about forbearance, visit the U.S. Department of Education’s website.

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