Federal Loan Consolidation Forbearance, Federal Loans, Request Loan Forbearance

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Condition of forbearance allows you to reduce your payment amount, extend repayment term, or temporarily stop making payments altogether. This is assigned by your lender or servicer, if you are having difficulty making your payments. For more information or to request forbearance, call EdFed at (800) 821-5659. Note, you will remain liable for the interest that accrues on the loan during the forbearance period.

Requesting a loan forbearance
Though forbearances are granted by your lender or servicer, conditions which act as reasons for requesting forbearance include:

Having a monthly debt burden for Title IV loans that collectively equal or exceed 20% of total monthly gross income.
Qualification for partial repayment of loans under the Student Loan Repayment Program, as administered by the Department of Defense.
Service in a national service position for which you receive a national service education award under the National and Community Service Trust Act of 1993.
Serving in a medical or dental internship or residency program, if you meet certain criteria.

If you have any questions about the federal loan consolidation process, please email us or call (800) 821-5659 to talk to an expert loan advisor.

How EdFed Helped others!

EdFed helped me out a lot! My student loan balance was not as high as most of my friends, so I didn't even know if consolidating would be worth my time. The loan counselors at EdFed really explained the benefits of consolidating and took the time to do a comparison of my total loan costs with and without consolidating. Even though my loan balance was not large, my monthly payments were reduced by almost 50% through my EdFed loan consolidation! This provided a lot of relief. Now, I know I can make my student loan payments, and I still have plenty of money to do the things I want to. Thank you, EdFed, for walking me through this process.
- Rochelle G. Chicago, IL

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CONSOLIDATION NEWS

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		Our Select 5/Graduated Payments repayment option allows for interest-only payments for the first 2 years of repayment. In the third through fifth years, payments increase to include a portion of principal. In the sixth year, payments increase to level installments of principal and interest payments for the remaining term of the loan.

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