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Latest from FSA: Helping Students Who Have Missed Payments

November 7, 2014

Fortunately for borrowers, one of the multiple benefits of having federal student loans is the flexibility of repayment options. If borrowers are unable to make their federal student loan payments, they should immediately contact their loan servicer. Nelnet is here to help and explain different repayment options for lowering or temporarily postponing payments.

Here are some options that will help your borrowers get back on track:

If the options described above won’t work, there are a few other options to consider:

  • Ask for a deferment or forbearance: A deferment or forbearance allows borrowers to temporarily postpone or reduce their federal student loan payments. They may qualify for a deferment or forbearance for a variety of reasons, including financial/economic hardship, unemployment, or military service.

To read the full article, visit: http://www.ed.gov/blog/2014/11/missed-a-few-student-loan-payments-we-can-help-you-get-back-on-track/.

 

Megan Freese, Communications Intern

Megan Freese, Communications Intern

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