Content Overview
- Summary
- Deferral Of The Amount Due Under Your Student Loan
- Forbearance Of The Amount Due Under Your Student Loan
- You May Be Able To Reduce Your Monthly Student Loan Payments
- Explore Canceling Your Student Loan
- Bankruptcy And Your Student Loan
- For More Information About What Can Be Done With Your Student Loan
How To Delay Payments On Student Loans
Summary
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If you are having difficulties paying your student loans, your health condition may help you:
- Get a deferral of the amount due for up to 3 years.
- Get a forbearance of the amount due.
- Reduce your monthly payments.
- Cancel the loan entirely.
Bankruptcy remains a possibility, though it is difficult to get rid of student loans in a bankruptcy. Again, your health condition may be helpful.
Before you take any action, speak with your doctor to find out how bleak he or she can paint your health situation â€" the stronger the case that you are unable to work and the more likely to die soon, the better. (Remember: this is for purposes of your student loans and does not necessarily reflect reality.)
Each of these subjects are discussed in the following.
- Deferral Of The Amount Due Under Your Student Loan
- Forbearance Of The Amount Due Under Your Student Loan
- You May Be Able To Reduce Your Monthly Student Loan Payments
- Explore Canceling Your Student Loan
- Bankruptcy And Your Student Loan
- For More Information About What Can Be Done With Your Student Loan
NOTE: For more information, see the U.S. Department of Education website: www.ed.gov or the National Consumer Law Center's website: www.StudentLoanBorrowerAssistance.org
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