I'd like to suspend my student loan payments, but I don't know if or how I can.
Of course. We'll help you stay on the path to successful repayment of your federal student loan.
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Great. Can you tell me more about deferment and forbearance, for starters?
Yes. You can learn more about deferment and forbearance on our website.
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Alright, then I guess I'll check there. What options do I have if I had a decrease in income?
You can apply to have your current IDR plan recalculated. You don't have to wait until your annual recertification is due.
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I see. Is there a way to get temporary relief?
A deferment or forbearance allows you to temporarily stop making your federal student loan payments or temporarily reduce your monthly payment amount. This may help you avoid default.
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Can you also tell me why I should apply for an income-driven plan?
Yes. An income-driven repayment (IDR) plan can make your payments more affordable because they are based on your income. Under an IDR plan, payments may be as low as $0 per month. You can estimate your monthly payments using Loan Simulator.
Do you want to know what to do after you apply?
No, I already know.
