• Is suffering from a temporary total disability
• Is enrolled in a rehabilitation program for a disability
• Is unemployed
• Has an economic hardship
• Is currently enrolled in school
• Enters uniformed service
• Is teaching or serving a needy population
• Is performing community service
• Is working in the healthcare field

Student Loan Extended Repayment Plans

Neither private nor federally backed student loans may be discharged in a bankruptcy filing. If the options outlined above are not right for you, you might want to consider various repayment options.

If you have a school-issued loan (like a Perkins loan), you should ask your school about any repayment options that are available to you.

If you took out a loan from a private lender (such as a bank), you might be limited in your repayment options. Whatever the case, it is not wise to wait until your loans go into default before trying to figure out a solution. If you wait, some of your options may expire.

Also, keep in mind www.paydayloan4less.com/payday-loans-ms/ that the holder of your federal loan must allow you to change your repayment plan at least once a year.

Options discussed in this article are mostly limited to federal student loan repayment. Fortsätt läsa →