Notice: Undefined index: articledetail in /home/utils/securefiles/securecode/utl_article.cls.php on line 643
How to Fight for Forbearance |
College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

How to Fight for Forbearance
If you receive forbearance on your student loans, you must pay the interest charges on the loans, unlike with deferments. If you don't pay that interest before the end of the forbearance term, it gets capitalized and added to your loan repayment amount.

Forbearance is usually granted for up to one year at a time. While forbearance for a qualifying situation can last as long as three years, forbearance can technically be granted over and over without federal limitation on the cumulative amount of forbearances periods. Some qualifying circumstances include poor health and excessive loan debt (i.e., student loans in excess of 20 percent of your monthly income). You also can get forbearance based on military mobilization or a national emergency that might affect you as a borrower. So if you get called up to do battle as an enlistee for the government, if you are actively serving in the Army, Navy, Air Force, or Marines, then by all means, you are in fact eligible to get forbearance or a deferment.

Beyond the situations described above, at some point in your life you may simply experience a really bad cash crunch due to a host of extenuating circumstances. If you expect your financial woes to last for several months or more, it's worthwhile to just call up your lenders, tell them about your dilemma, and request forbearance. It's far better to plan ahead and postpone your obligation to repay your student loans than to be late on your college debt payments or possibly even fall into default. As with deferments, forbearance options abound. Each case is different, so it's ultimately up to you to demonstrate credibly to your lender that you're having financial difficulty and are in need of forbearance. In most cases, when you're having a legitimate economic issue in your life, a simple phone call to your lender where you succinctly and earnestly explain your situation is sufficient to get that much-needed forbearance.


Article Title : How to Fight for Forbearance
Comment not found for this article.

Related articles
• Obtaining Student Loan Consolidation Information
• Helping In Student Loan Relief
• Deferment And Forbearance - When You're Having Trouble Making Your Student Loan Payments
• How Do You Shorten Student Loans
• Student Loan Consolidation Program - The Options For Paying Off Student Loans

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
EdFed saved me thousands of dollars! They gave me a low-fixed interest rate, borrower benefits, and low monthly payments. My loan counselors walked me through each step of the application process, and I felt very comfortable with my choice to consolidate with EdFed. I recommended EdFed to several of my classmates, and they too have had great experiences. I am so glad I found out what EdFed has to offer, there really is a difference between lenders!
- David G.  Dallas, TX
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
Even if you plan to pay off your loan early, you can benefit from consolidating--there are no early repayment penalties, and you can take advantage of our payment incentives.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2020 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives