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My loans are eligible for a deferment because I’m serving in the military or volunteering in the Peace Corps. What does this mean?

A student loan deferment is a repayment arrangement that postpones your monthly student loan payment for a period of time. Contact your student loan servicer to learn more about your options before you decide to postpone making payments on your ...

Should I use a deferment or forbearance to delay repaying my student loans while I serve in the military, volunteer in the Peace Corps, or participate in a national service program?

You probably should not put off repaying your student loans while you are in the military, the Peace Corps, or a national service program. You may have other options. None If you’re short on cash, you may look for a ...

Is forbearance or deferment available for private student loans?

Rules about private student loan deferment and private student loan forbearance vary among lenders. Contact your student loan servicer as early as possible to explore your options. Student loan deferment and student loan forbearance both refer to a ...

What should I do if I can't afford my student loan payment?

Contact your servicer to learn about student loan deferment, student loan forbearance, or affordable repayment plans to postpone or reduce or your monthly payment. If you are having trouble making your loan payments, contact your servicer to explore ...

What is student loan forbearance?

Student loan forbearance is a temporary postponement or reduction of your student loan payments because you are experiencing financial difficulty. Forbearance works differently depending on whether you have a federal or private student loan: Federal ...

What is a student loan servicer?

Servicers are companies and organizations that collect payments on a loan, respond to customer service inquiries, and perform other administrative tasks associated with maintaining a loan. If you don’t know who your servicer is, don’t worry. For ...

What is mortgage forbearance?

Forbearance is a process that can help if you’re struggling to pay your mortgage. Your servicer or lender arranges for you to temporarily pause mortgage payments or make smaller payments. You still owe the full amount, and you pay back ...

If I can't pay my mortgage loan, what are my options?

If you can’t pay your mortgage or are worried about missing a mortgage payment, call your mortgage servicer right away. You should also contact a HUD-approved housing counseling agency to get free, expert assistance on avoiding foreclosure. First, ...