Forbearance

What is it?
A means of postponing payments on your student loans during a period of temporary financial strain.

How long can I postpone payments?
That is up to your lender. 

When is a forbearance a good idea?
When you are temporarily struggling to make your student loan payments.

When is a forbearance not a good idea? 
When you have the ability to make payments to bring your account up to date, or when you are not sure that you will be able to resume payments soon. During any forbearance, interest continues to accrue, even when you are not required to make payments. As a result, your balance and payment term is likely to increase.

How do I apply?
Contact your lender or servicer.  Click here for a list of servicers and contacts.

To learn more about Forbearances, click here.

If you don’t think that a forbearance is the best option for you, review any other option on your results page, or return to the questionnaire to make another selection.