How will my loan payments be affected after Unemployment Protection ends?

Each hardship program period lasts for up to three months. You can re-apply to extend this in three-month increments, up to 12 months in aggregate short-term assistance over the life of the loan. Be aware that you may be subject to a cool-off period.

During an approved hardship program period, interest may continue to accrue. Unpaid interest may be capitalized (added) to your principal balance at the end of each three-month forbearance period.

Payments are required for both personal and student loan programs.

For both personal and student loans, the life of the loan will be extended by the length of the program and any unpaid interest may be capitalized and re-amortized over the remaining loan term to the extent permitted by applicable law.

Unpaid interest will increase the principal balance, and will increase the monthly payment.