:: Forbearance ::
Contact your loan servicer to discuss your options and download forbearance forms from our 'Forbearance Forms' page.
If you aren't eligible for a deferment and you can't make your scheduled payments but intend to repay your loan, your loan servicer may grant you forbearance. Forbearance allows you to temporarily postpone or reduce payments and provides short-term relief to help you maintain a good credit rating.
You may request forbearance to:
- Make no payments for a short period.
- Extend the time for making payments.
- Make smaller payments than scheduled for a specific time period.
loan servicers aren't required to grant forbearance and may require documentation for your request.
You'll continue to be charged interest on all loans during forbearance. If you're not able to pay the interest during this time, your loan balance will increase because the unpaid interest will be added to the total amount due. loan servicers must disclose, at the time forbearance is granted, information about the capitalization of interest and the resulting effects on loan balances.
You may be granted forbearance if you're:
- Willing but unable to make your payments due to personal problems.
- Serving in a medical or dental internship or residency.
- Adversely affected by military mobilization or local/national disaster.
- Serving in a position under the National Community Service Trust Act of 1993 (PLUS loans are not eligible).
- Teaching and pursuing the Teacher Loan Forgiveness Program.
- Making payments on certain federal student loans that are equal to or greater than 20 percent of your monthly gross income.
Your lender can grant forbearance for up to one year at a time, but you have to ask for it!
This isn't a complete list of conditions that qualify loans for forbearance. Direct Loan forbearance forms and information are available on Direct Loan Servicing Online.