Can't make your payments?
If you think you may not be able to make a payment, contact us immediately to make arrangements. We’ll work with you to help you avoid default and credit history damage. Default means you haven’t made a loan payment in nine months or you failed to meet other terms of the promissory note, such as notifying your lender of a change in your address.
We may be able to arrange for a deferment. A deferment lets you stop making payments of principal and interest. If you don’t qualify under the federal criteria for a deferment, you may be eligible for a forbearance. This is a period of time during which you are not required to make principal payments on your loan(s). You continue to be responsible for the interest, which you may pay or may allow to have capitalized. Call us if you need time off from making full payments on your loan(s).
There are special circumstances that may allow you to have your loans forgiven or discharged. Stafford, PLUS, and Cconsolidation loans all have free life and disability insurance. There are also provisions for Teacher Loan and Child Care Provider loan forgiveness. Loan Servicing can guide you or your family through the process.
