How to Get a Forbearance On a Seriously Past Due Student Loan

Have you had a problem paying back a student loan? If you have a loan that is up to a year past due, you can ask for a forbearance for up to a year. You need to have a valid reason to ask for the forbearance, and you can do all this online. The great thing, it will only take a few minutes to take care of the application for the forbearance.

Things You'll Need

• Internet connection

Instructions

1. Find out who has your student loan. Look on your loan statement, and find the web address to the place that carries your student loan. If you haven't already, sign up for an online account, this way you have access to all aspects of your account. You can find out exactly how far behind you are, on your payments.

2. Go to the Department of Educations website. You can get into your account with your PIN that you received when you filled out your student financial aid forms. Access your account, on the left side of the page, you will see where it says forbearances. Underneath forbearances, you will see General Forbearance, Click on this. The next page has a button that says "submit online paper less" click on this.

3. Fill out the paperwork. This will take about five minutes of your time. Basically you are showing why you need a forbearance, and then you are asked how long of a forbearance you need, up to a years time they give you. Finish up the paper work and submit it. You will receive an answer soon there-after.

Tips & Warnings

• ©2009 by Michael P. Smith all rights reserved