you’re not eligible for a deferment, you might be
granted forbearance for a limited and specified period.
During forbearance, your payments are temporarily
postponed or reduced. Unlike deferment, whether your
loans are subsidized or unsubsidized, you’ll be charged
interest during forbearance.IF you don’t pay the interest
as it accrues, it will be capitalized.
As is true with deferment, you aren’t just granted
forbearance automatically;
you must formally request one from your loan holder.
You might have to provide documentation to support
your request. You might be granted forbearance if you
are
unable to pay due to poor health or other unforeseen
personal problems.
serving in a medical or dental internship or residency.
serving in a position under the National Community
Service Trust Act of 1993 (forbearance can be granted
for this reason for a Direct or FFEL Stafford Loan, but
not for a PLUS Loan).
obligated to make payments on certain federal student
loans that are equal to or greater than 20 percent of
your monthly gross income.
This is not a complete list of conditions that might
qualify you for forbearance.
For more information, contact your loan holder.
Unlike deferment, which you’re entitled to receive, the
loan holder does not have to grant forbearance except
in certain mandatory circumstances (check with your
loan holder for details). In most cases, however, lenders
are willing to work with you if you show you’re willing
but temporarily unable to repay your debt.
