2007-09-10 07:48:39 · 5 answers · asked by helenhmac 1 in Education & Reference ➔ Financial Aid
You must contact your lender and apply for forbearance. Forbearance lets you suspend or reduce your payments under certain circumstances and for specified periods of up to one year at a time. Forbearance results in higher loan costs overall. You may want to look into deferment or a different payment plan.
2007-09-10 07:56:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Call the lender and ask for one. You can get one if you are unemployed, underemployed, or if you can prove economic hardship. Your loans will continue to accrue interest while they are in non-payment status, but you won't be billed for monthly payments until the forbearance period is up.
2007-09-10 07:53:35 · answer #2 · answered by The Bishop 1 · 0⤊ 0⤋
You have to apply for it. First contact the company and tell them you wish to apply for forbearance. They will send you papers to fill out and if you qualify, for example your wages are too low or you work in certain fields you should be able to get it.
2007-09-10 07:52:00 · answer #3 · answered by luteachris 4 · 0⤊ 0⤋
Usually, when you go to their website, there's a link for forbearance. If you don't wanna do that, call their toll free number and speak to one of their representatives.
2007-09-10 07:51:27 · answer #4 · answered by GQ19 3 · 0⤊ 0⤋
Call the company that issued your student loan and speak with a service rep... It shouldn't be a problem
2007-09-10 07:51:52 · answer #5 · answered by pebblespro 7 · 0⤊ 0⤋