Alternatives for Suspending Loan Payments

Postponing Payments

Many situations may render you unable to make your monthly payments, so it is important to know that several options will help you proceed from this point. One of the options would be to postpone your payments, which can be helpful for many students but not for all. Postponing payments will have an impact on the total amount of your student loan.

Deferments and Forbearances

Deferments and Forbearances allow you to pause your monthly payments temporarily depending on the circumstances you are facing, but these pauses may set back the time it takes to apply for a student loan forgiveness if you are aiming for that goal.


Interest does not accumulate in this period if you have a subsidized loan, but if your loan is unsubsidized, interest accumulates, and you will be responsible for these payments.


All types of loans accumulate interest in forbearance periods, and you are responsible for them. We recommend you pay at least the interest while your loan account is in forbearance to save yourself some money in the long run.


A Direct Consolidation Loan will allow you to combine federal loans and make them one, offering you several benefits. Even so, it may not be the best option for everyone. Contact us, and we will explain everything before you decide on applying for consolidation.

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