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How to Delay Student Loans

Struggling to Pay Off Student Loans? Here's How to Delay Them


More people are facing bankruptcy because of student loan obligations, according to a survey by the National Association of Consumer Bankruptcy Attorneys. In fact, the student loan debt has passed $1 trillion, which is more than the nation's credit card debt.

There are several things you can do to put off paying your loans, but it's advisable to pay them on schedule. Still, there may be times where you simply can't make ends meet and pay off your loans. Here are some of your options (which many of you may already be implementing!):

  • Deferment: You have to meet certain qualifications for deferring, and those include being in school, having economic hardship, being unemployed, and more. Deferment is only temporary and only available for a limited period. When you defer, interest doesn't accrue on subsidized loans, but interest will still keep accumulating on your unsubsidized student loans.
  • Forbearance: If you don't qualify for deferment, you might be granted a forbearance. Your lender will let you pause your payments or reduce them for a period of time, but interest will continue to accrue.

Remember, there may be repayment plans that may work for you instead of deferment and forbearance, so be sure to assess all your options before making a decision.

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