Trouble Making Payments?

Deferment. If you are unemployed, facing certain economic hardships, serving on active duty in the military or returning to school for additional studies, you may qualify for a deferment. Borrowers who meet the qualifications and submit the required documentation are entitled to defer principal payments, in the case of unemployment or economic hardship, for up to a total of three years during the term of their loans. There is no maximum time limit for an in-school deferment. Contact your loan servicer for more information about deferment.

Forbearance. If you don't meet the standards for deferment but still need payment relief, you may request a review by your loan servicer for forbearance. Forbearance permits a borrower to reduce or postpone payments or extend the time for making payments, usually at the discretion of the lender. Forbearance requests typically are granted for a period of up to 12 months. Eligibility for forbearance is determined by your loan servicer.

Loan consolidation. By consolidating your education loans into a single monthly payment, you may be able to reduce your monthly payment by extending the repayment period. The maximum repayment term depends on your total outstanding federal education debt. Carefully consider all the options before consolidating your loans.

Other repayment options. You may be able to obtain an affordable monthly payment by selecting one of the flexible repayment options, including graduated, extended or income-sensitive. Call your loan servicer and ask about these repayment options.