Forbearance is a temporary fix, not a sustainable option

There are many ways to qualify for a forbearance, whether due to financial hardship, illness, or other similar situations, but forbearance can never be your end goal. It is a short-term solution to provide you the time you need for setting up a more sustainable option.

If you qualify for forbearance, you likely qualify for something better

Use this payment-free period to get your paperwork in and set up a long-term solution. Talk to a counselor about your situation and find the right affordable repayment option for you.

When you are enrolled in an income-driven repayment plan, even $0 monthly minimum payments count toward loan forgiveness requirements. The time you spend in forbearance does not. Using more forbearance time than needed can set you back and keep you in debt for longer than necessary.

Learn More About Forbearance

If you can't make your scheduled loan payments, but don't qualify for a deferment, your loan servicer may be able to grant you a forbearance. With forbearance, you may be able to stop making payments or reduce your monthly payment for up to 12 months. Interest will continue to accrue on your subsidized and unsubsidized loans (including all PLUS loans).

There are two types of forbearances: Discretionary and Mandatory.

Discretionary Forbearance

For discretionary forbearances, your lender decides whether to grant forbearance or not. You can request a discretionary forbearance for the following reasons: Financial hardship or Illness

Mandatory Forbearance

For mandatory forbearances, if you meet the eligibility criteria for the forbearance, your lender is required to grant the forbearance.

You can request a mandatory forbearance for the following reasons:

• You are serving in a medical or dental internship or residency program, and you meet specific requirements.
• The total amount you owe each month for all the student loans you received is 20 percent or more of your total monthly gross income (additional conditions apply).
• You are serving in a national service position for which you received a national service award.
• You are performing teaching service that would qualify for teacher loan forgiveness.
• You qualify for partial repayment of your loans under the U.S. Department of Defense Student Loan Repayment Program.
• You are a member of the National Guard and have been activated by a governor, but you are not eligible for a military deferment.

How to request forbearance

Receiving loan forbearance is not automatic. You must apply by making a request to your loan servicer. In some cases, you must provide documentation to support your request.

Interest will continue to be charged on all loan types, including subsidized loans.

You can pay the interest during forbearance or allow the interest to accrue (accumulate). If you don’t pay the interest on your loan during forbearance, it may be capitalized (added to your principal balance), and the amount you pay in the future will be higher.