What is Forbearance?

Forbearance is another tool that can help you get through a period of financial difficulty. During forbearance, a lender temporarily reduces, extends or postpones regular loan payments. This alternative is usually reserved for individuals who are not eligible for a deferment.

In some cases, a lender is required to grant mandatory forbearance. For example:

• When medical or dental interns enrolled in an internship program or have exhausted all of their deferment eligibility

• If the borrower is serving in a national service position under the National and Community Service Trust Act of 1993

• If the borrower is eligible for loan forgiveness

• If annual debt burden for FFELP loans equals or exceeds 20 percent of a borrower's disposable income

When considering forbearance, borrowers should keep in mind that forbearance eligibility varies for each loan. Review the Loans at a Glance FAQ sheet to see details regarding forbearance eligibility for your loan.

Federal Perkins

Nursing Student Loan (NSL)

Nurse Faculty Loan (NFL)

Health Professions Student Loan (HPSL)

Loan for Disadvantage Students (LDS)