With a few simple questions, the tool takes your unique student loan situation into account which will help you to figure out what options are available for you to reduce the burden and pay it all off faster.
When you put your loans into forbearance or deferment, you are temporarily pausing all payments. Deferment is available for borrowers who have federal loans and meet certain criteria; interest may be paid by the government. Forbearance is available for borrowers who have federal loans, and even some private loans; interest typically continues to accrue. A good option if delinquency or default is possible, since both things can harm your credit and may cost you even more in late fees.
When you put your loans into forbearance or deferment, you are temporarily pausing all payments. Deferment is available for borrowers who have federal loans and meet certain criteria; interest may be paid by the government. Forbearance is available for borrowers who have federal loans, and even some private loans; interest typically continues to accrue. A good option if delinquency or default is possible, since both things can harm your credit and may cost you even more in late fees.
When you put your loans into forbearance or deferment, you are temporarily pausing all payments. Deferment is available for borrowers who have federal loans and meet certain criteria; interest may be paid by the government. Forbearance is available for borrowers who have federal loans, and even some private loans; interest typically continues to accrue. A good option if delinquency or default is possible, since both things can harm your credit and may cost you even more in late fees.
When you put your loans into forbearance or deferment, you are temporarily pausing all payments. Deferment is available for borrowers who have federal loans and meet certain criteria; interest may be paid by the government. Forbearance is available for borrowers who have federal loans, and even some private loans; interest typically continues to accrue. A good option if delinquency or default is possible, since both things can harm your credit and may cost you even more in late fees.