What happens if I can't make my student loan payments?

If you cannot make your student loan payments in Washington, there are several options available to you. Depending on your situation, you may be able to request a deferment or forbearance, which would allow you to temporarily postpone or reduce your loan payments. Another option available to you is to apply for an income-driven repayment plan, which will base your loan payments on your income and family size, making it easier for you to manage your payments. Additionally, you may be eligible for loan forgiveness or cancellation if you meet certain conditions. For example, some borrowers who work in public service may have their loans forgiven after making a certain number of payments. You should research and consider all of your options before deciding what to do if you cannot make your student loan payments. Finally, it is important to remember that your loan lender may report to the credit bureaus any late or missed payments, which can negatively affect your credit score. If you get to a point where you cannot make payments, it is important to contact your loan servicer or lender and explain your situation. They may be able to help you find a solution.

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What happens if I can't make my student loan payments?

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