
Sallie Mae Forbearance Form


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People also ask
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Can I get a forbearance on my student loan?
If you're in a short-term financial bind, you may qualify for a deferment or a forbearance. With either of these options, you can temporarily suspend your payments. But keep in mind that forbearance and deferment have pros and cons. Student loan payments have restarted, and regular interest rates have resumed.
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Does Sallie Mae do deferments?
You can request a deferment if you're accepted into an approved internship, clerkship, fellowship, or residency program. To be considered for deferment, the program must: Require you to have a bachelor's degree as a prerequisite for acceptance.
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Are student loans paused again in 2024?
Generally, if you miss payments, your loan is considered delinquent and is reported as such to the national credit reporting agencies. You don't get reported when you're in forbearance. During the on-ramp period (through Sept. 30, 2024), we automatically put your loan in a forbearance for the payments you missed.
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Will my student loans pause if I go back to school?
Yes, if you return to school more than half-time your existing loans will go into in-school deferment.
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Does Sallie Mae do forbearance?
You may qualify for forbearance while in school, but borrowers with subsidized loans will benefit from the automatic deferment because of the interest payments included. Keep in mind that during forbearance your loan will accrue (grow) interest, if your principal remains unpaid.
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Are Sallie Mae loans being forgiven?
Sallie Mae loans, now serviced by private lenders, do not qualify for federal forgiveness programs. Loan forgiveness is generally reserved for federal student loans under specific programs. Private student loans might offer assistance or flexible terms, but typically lack formal forgiveness options.
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Does Sallie Mae pause payments if you go back to school?
You can request to temporarily postpone or reduce payments when you're headed back to school or starting an eligible internship, clerkship, fellowship, or residency program.
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What happens if you can't pay Sallie Mae?
Delinquency and default Delinquency occurs when you fail to pay all or part of your monthly student loan payment. You may be charged late fees for delinquency, which can add to your Total Loan Cost. You may lose any interest rate reduction programs you were eligible for.
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