There are many options available if you are unable to make your payment depending on your circumstance.

A forbearance is an arrangement to postpone or reduce your monthly payment amount for a limited and specific period during which you are charged interest. If you indicate a temporary inability, but willingness to pay the loan(s), you may ask for or be offered a forbearance. For all Direct Loans, interest that accrues during a forbearance is the responsibility of the borrower. When you re-enter repayment at the end of the forbearance period, any unpaid interest capitalizes (is added to the principal balance).

A deferment is a period in which repayment of principal and interest is postponed temporarily. During the deferment of a subsidized loan (Direct Subsidized and Direct Subsidized Consolidation Loans), the government pays the interest that accrues. For unsubsidized loans (Direct Unsubsidized, Direct PLUS, Direct Unsubsidized Consolidation, and Direct PLUS Consolidation Loans), you are responsible for the interest that accrues during the deferment period. If you have unsubsidized loans, any unpaid interest capitalizes (is added to the principal balance) when you enter repayment at the end of the deferment.

Deferment and Forbearance forms can be found by clicking the link below.

www.dl.ed.gov/borrower/DefermentFormList.do?cmd=initializeContext

Login to the Direct Loan Servicing Center- Make payments, view your account balance and payment history, view payment options, consolidate loans, and much more.

www.dl.ed.gov/borrower/BorrowerWelcomePage.jsp

Phone: 800.848.0979

Navigating your financial future provides comprehensive debt management tools to identify key solutions, which contribute to the effective management of student loan repayment. This program is composed of multiple resources dedicated to promoting a positive credit profile, fostering a deeper understanding of budgeting skills.

www.navigatingyourfinancialfuture.org