2007-07-13 13:03:45 · 3 answers · asked by SadToday22 3 in Education & Reference ➔ Financial Aid
most are. i have loans with salliemae and my payment plan requires me to make $40 payments per month for the first 5 years and then increases up to $150 per month after that. that way, i'm able to get established in a good position before the payments are higher. talk to your lender and they can let you know what they can do. you can also request a forbearance if you cannot make any payments due to financial hardship. during a forbearance, you still get charged interest but dont need to make payments. you can request up to a year at a time and can do this for 5 years. of course, if you can make the small payments, do that instead of the forbearance. if you go back to school, your loans are put back into deferrance (no payments, no interest charged). hope that helps.
2007-07-13 15:21:17 · answer #1 · answered by ciessa1203 3 · 0⤊ 0⤋
There are many repayment options for you to help you pay back your loan. Loans are normally based off a term like 10 yrs. Most lenders give options where you can postpone your payments for a period or lower the payment for a period until you can pay the normal amount. All you have to do is talk to your lender.
2007-07-13 19:46:40 · answer #2 · answered by Boriqua7 2 · 0⤊ 0⤋
Yes the best thing with them and any credit giver is to communicate with them, most times all will work with you it is when you do answer their calls, or letters that causes problems. Lets face it it is beter to work out something with a creditor, than get nothing, fact is call them and explain situations, 99% of the time they are willing to work something out with you
2007-07-13 13:14:59 · answer #3 · answered by Pengy 7 · 1⤊ 0⤋