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How do I defer student loan?

I am currently 6 months past due on a private student loan.I do not have any federal student loans to defer?

  • I am struggling to pay this but am going to graduate school in 4 months.Any ideas to help me?Can they garnish my paycheck since its a private loan if i just stop paying?Please help!!

  • Answer:

    9 times out of 10 you can get a forbearance, or a hardship deferment. As soon as you are accepted, let the bank know you are going back to school. They will usually defer payments until your studies start, and then it will be deferred until you finish your studies. You do not ever want to let something like that go. That kind of thing will destroy your credit. It's hard to build it up, but so easy to destroy it (it's sad, I know... people are too untrusting).

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you need to go to the financial office to talk to them about this .. honestly waiting will only make it worse, and they might have a way where you can only pay a certain amount at a time .. explain to them that there is nothing you can really do but that you are trying .. also if you school has a work study program .. ask them if you could possibly work at the school (like for them) to pay part of it off . GOOD LUCK!

autloveswes

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