Forbearance/Deferrment

I would think that at some point they are going to deny you :oops: . Why are you deferring or forebearing your loan? Are you still in school or unemployed.

ladybug

What kind of loans do you have?

You will be eligible for a deferment or forbearance on the Federal Consolidation Loan as long as you meet the eligibility requirements. Be aware that if you consolidate the student loans, you might lose some of the deferment options.

Forebearance and deferment are two different things. Deferments on federal loans are rights...you are entitled to three years for unemployment, financial hardship, illess etc. They do not go on forever. You need to meet certain conditions.

Forebearances are "administrative" and done as a courtsey. They do not have to grant them. Keep in mind that interest does continue to accrue during this period.

Check out your lenders website for exact wording.

Citibank switched my Fixed interest rate with a Variable rate and raised it - of course without telling me beforehand when I took a forbearance...

Sounds like a private loan. Have you reviewed your prom note to see the terms?

SOAPLADY.....would like some advice here. I have a Student Loan, as well. I've used all the Deferments and Forbearances that I can use on the loan. I've been past due on my payments since November 5th. It's not in danger of being in 'default' ( I think they said that would be at 120 days). I have my loan through AES. They sent me paperwork for an 'Economic Hardship'. What would THAT do? I'm paying just the % on it right now. Anything ABOVE the % payment, goes toward my balance.

Is this a federal or private loan?

Account Number>removed: North Carolina State Education Assit. Authority. I can't afford to pay my loan at this time. I am requesting a forbearance/deferrment until I catch up on some other bills.

Sohi....this is not North Carolina State Education Assistance Authority....this is a public message board. You need to find the right site and apply properly.

And telling them you have "other bills" wont cut it. You have to qualify for what you apply for.

( Sorry it's been a few days since I've replied) SOAPLADY...this is a Federal loan. My loan is thorugh AES. I've tried to call them, the last few days. I guess, becuase of the Holidays, they've been pretty busy. Just long waiting times, on the phone.