What is it?
A means of postponing payments on your student loans for up to 36 months (3 years).
When do I qualify?
If the combined amount you pay on your student loans is greater
than 20% of your gross monthly income.
What loans are included?
All Title IV loans: FFELP, Federal Direct, and Federal Perkins loans.
When is this Mandatory Forbearance a good idea?
When you are temporarily struggling to make your student loan payments.
When is it not a good idea?
When, despite your high education debt, you are able to afford your monthly
payments. During any forbearance, interest continues to accrue, even when you are
not required to make payments.
To learn more about mandatory forbearances, click here.
If you feel that a mandatory forbearance is not the best solution for
you, please click the button below to return to the questionnaire and make another