Can I Ask for a Forbearance?

If you do not qualify for a deferment, you may be able to work out special arrangements with your lender called forbearance.  During periods of forbearance you can reduce or postpone monthly payments.  You are responsible for any interest that accrues on your subsidized or unsubsidized Stafford Loans during this time.  Generally, lenders are not required to grant forbearance but are willing to if you stay in contact and demonstrate you are serious about repaying your loans.  So do not be embarrassed to ask your lender for help. 

If you are unable to meet your monthly loan payments, we urge you to contact your lender or financial aid office immediately.

So, what happens when you don't make any loan payments?