Having Trouble Repaying Your Student Loan?

Head in Sand Image

This is
NOT
the Answer!


So You're Having Trouble Repaying Your Student Loan

Calculator ImageThe most important thing to remember is that your LENDER, GUARANTOR and SCHOOL are your partners! They are ready and willing to assist you in meeting your obligation and reaching your career goals. If you cannot make a payment on your loan when it is due because of your financial situation, contact the holder of your loans immediately! The following are options available to help you with your student loan:

Deferments - An authorized deferment is a legal way to postpone repayment on your Federal Family Educational Loan, but you must meet the requirements for the specific deferment.

Forbearance - An authorized period of time during which the lender agrees to temporarily postpone or reduce a borrower's principal repayment obligation.

Repayment Options - Several flexible repayment options are available to help borrowers select the one that will meet their repayment needs.

Borrower Benefits -You may be eligible for borrower benefits that would lower your loan costs. These benefits could be interest rate reduction, fee rebates, credits, or repayment rewards.

Loan Forgiveness - You may be eligible for partial forgiveness of your student loans if you meet certain requirements.

Loan Cancellation - You may have your loan discharged if you meet the required guidelines.

Don't stop reading! There's more information on each of these areas that could help you during your financial crisis. REMEMBER, DOING NOTHING WILL ONLY HURT YOU.

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