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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 temporary pause to your student loan payments for specific situations. If you postpone payments, you may eventually owe interest charges even if you’re not making payments. You have to apply for forbearance or deferment with your student loan servicer, and you must continue to make payments until you've been notified that your forbearance or deferment has been granted. The terms and fees associated with postponing private student loan payments are based upon your contract and applicable laws. They may be different for each servicer and may not be as favorable as the terms of deferment or forbearance available for federal student loans.

Learn more about what to do if you can’t afford your student loan payments.