Forbearance
Forbearance is another temporary delay or reduction of loan payments. Your lender may be able to approve forbearance due to personal financial hardships, illness, or six other circumstances, so you will want to contact your lender to discuss your personal situation. However, unlike a deferment, interest continues to accrue on the loan that you will be responsible for paying. If you are having difficulty making your payments, contact your lender and ask about various options to avoid delinquency.
