What if I can't afford my loan payments?
There are many loan repayment and assistance programs available for those having trouble making loan payments. If you find yourself having difficulty making your payments, you should contact your lending institution as soon as possible to discuss your options. These might include:
- Altering your repayment plans
- Deferment – You must meet certain requirements to temporarily halt your payments.
- Forbearance –Enables you to temporarily stop making loan payments, temporarily make smaller payments, or extend the timeline for making payments based on your eligibility.