A period of time where students do not have to pay their student loans.
A period of time where students do not have to pay their student loans— interest is still accrued on all student loans including subsidized and unsubsidized loans, as well as PLUS loans.
If a person has a federal student loan and is having difficulties making payments due to financial difficulty, he or she may be eligible for forbearance. There are two types to of forbearance to understand.
There are a few reasons why a discretionary forbearance may be requested:
There are a few situations why a mandatory forbearance may be requested:
There are no situations or reasons where a private student loan lender is required to provide an applicant with a forbearance. However, this does not mean that they will not grant a student loan forbearance.
If a student carries private student loans, and feels that what he or she is experiencing in life would benefit from a forbearance from private student loan, that student should call and discuss it with his or her lender.