Student Loan Forbearance

Student loan Forbearance is a temporary relief option that allows borrowers to pause or reduce their student loan payments for a specified period. During Forbearance, interest may continue to accrue on the loans, which can increase the total amount owed once the Forbearance period ends.

Forbearance is typically granted under specific circumstances, such as financial hardship, medical issues, or other temporary difficulties. Borrowers must request Forbearance from their loan servicer and may need to provide documentation to support their request.

Examples of Forbearance cases include:

• A recent graduate who is struggling to find a job and cannot afford monthly payments.
• A borrower who faces unexpected medical expenses that impact their ability to pay their loans.
• A person experiencing temporary unemployment who needs time to regain financial stability.