Forbearance is a temporary postponement of payments. Unlike deferment, interest continues to accrue on the account during forbearance. Interest may be paid as it accrues or may be deferred.
Borrowers must request forbearance in writing, stating the reason for the forbearance and provide support documentation as specified by the University.
Forbearance can be granted to borrowers experiencing:
- financial hardship,
- poor health, as certified by a physician,
- other acceptable reasons, as determined by the University, or
- borrowers who are full-time volunteers in a tax exempt organization.
Forbearances may be granted for up to one year at a time, not to exceed three years total forbearance.
Download a Request for Forbearance form (PDF).