How do I qualify for student loan forbearance?

In Wisconsin, there are several ways that you can qualify for student loan forbearance. The first way is through economic hardship. If you are facing a financial hardship due to a job loss, illness, or other unexpected event, you may apply for an economic hardship forbearance. This can allow you to temporarily suspend your student loan payments until your financial situation improves. Another option is to apply for a military deferment. If you are in the military, you can apply for a deferment which allows your loan payments to be suspended while you are on active duty. Finally, you can apply for a degree obtained deferment. If you are enrolled in a bachelor’s or post-baccalaureate degree program at an accredited school, you may be eligible for a degree obtained deferment. This type of forbearance will suspend your payments until you have completed your education. In order to apply for student loan forbearance, you will need to contact your loan servicer and provide them with the necessary documentation. Your servicer will let you know what forms you need to fill out and submit. Once you are approved, your payment suspension will begin and you’ll be able to go back to living without the financial burden of student loan payments.

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How do I qualify for student loan forbearance?

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