Postponement Options

If you are having difficulty making your monthly installment, the following temporary options may help. (If your loan is in a default status other options may be available. Please contact the Collections Department.)

Deferments

If your situation meets specific criteria set by the U.S. Department of Education, you are entitled to defer your federal education loan payments for a period of time. Deferment can be an effective way to help you successfully manage your budget and protect your credit rating during certain situations.

Forbearances

Borrowers are permitted to temporarily cease making payments or reduce the amount of the payments for a period of time. The borrower is liable for the interest that accrues on the loan during the forbearance period. Some forbearances are entitlements for eligible borrowers; others are granted at the discretion of the lender.