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PLUS Loan Forbearance

PLUS Loan Forbearance Options

A forbearance is a temporary postponement of monthly loan payments for a specific reason and for a specified length of time. During a forbearance, interest is charged but monthly payments are not necessary. You may qualify for a forbearance if you are experiencing an economic hardship. Lenders may use a discretionary forbearance to allow for other situations. Contact your loan servicer for your available forbearance options.

In-school forbearance
Parents may request a forbearance on their Federal PLUS loans while the student is enrolled in school. This option allows a parent to borrow funds without the immediate obligation of making monthly payments while the student is enrolled. Contact your PLUS loan servicer about this forbearance option.

The in-school forbearance is NOT available on PLUS Consolidation Loans. You may, however, be able to use other available forbearance options on the consolidation loan while the student is enrolled. Contact your PLUS Consolidation Loan servicer for more information.

Remember that you can always pay any amount towards the PLUS loan during a forbearance, thus reducing the amount of interest paid and the length of the loan. Any amount received will first be applied onto the accumulated interest before being applied on the principal.

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