Options for problems repaying loans
Loan holders understand that you might occasionally experience
problems repaying your student loans. You might have unexpected expenses
or even a job loss sometime. Fortunately, you have
options!
Your loan holder isn’t going to send a repossession agent to
collect your degree, but you do need to communicate with the holder
immediately. The sooner you report difficulty making your payment, the
better!
Learn about your options:
Consider
an alternative repayment plan
Request
a deferment
Consider
a Federal Consolidation Loan if you have multiple servicers/loan holders
or high amount of debt
Investigate
loan cancellation/forgiveness programs
Determine
who holds your loans
