How Do You Apply for a Student Loan Forbearance?


Quick Answer

Those who have student loans and wish to apply for a student loan forbearance can do so by determining their eligibility, contacting their loan provider and completing the necessary forms and documentation. A forbearance allows people to stop or reduce payments for up to 1 year, although interest still accrues, states the United States Department of Education Financial Aid office.

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Full Answer

Those wishing to apply for a student loan forbearance can use the following steps.

  1. Determine eligibility
  2. Determine whether a forbearance is allowed. There are two types of forbearance, notes the U.S. Department of Education. A discretionary forbearance can be requested due to illness or financial hardship, but is not automatic. A mandatory forbearance must be accepted by the loan provider and can be requested for specific reasons, such as for someone who is a teacher or in a medical internship program.

  3. Contact loan provider
  4. Contact the company who manages the loan for the necessary applications. Some companies may allow people to request a forbearance online, while others, such as Aspire Resources Inc., requires a mailed or faxed application.

  5. Complete application
  6. Complete the application and send it in. Send in any required documentation that the loan provider uses to determine whether the forbearance can be granted.

All student loans must continue to be paid until the forbearance is granted.

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