Life Cycle of a Student Loan

In School

While you are still in school, you are not obligated to make any payments. However, if you have an unsubsidized loan, you are responsible for the interest, and we recommend you to pay it at least in this period if you can. This will save you some money in the long run.

In grace

For most federal loans, after you graduate or drop below half time, you will have a 6 or 9 months grace period, depending on the loan you took before you have to start making payments. This time will allow you to get settled financially and consider which repayment plan would be best for you.

In repayment

Student Loan Forgiveness will be with you throughout the whole loan process. We will send you a bill before your due date with enough time for you to prepare. Student Loan Forgiveness offers flexible options for you to make the payments, and you will be able to change your repayment plan to an option that better suits your needs at any time.

We will also remind you about payments that need to be made, so you don’t get in trouble in case you have forgotten to make them in time.

Difficulty making payments

We understand how finances can change at any time, and you might find yourself in a situation where you cannot make your monthly payments. That’s the reason we exist. Student Loan Forgiveness is here to assist you in anything related to your student loan. No matter the circumstances you are in, contact us first, and we will find a solution for you. We can discuss changing your repayment plan to one that fits your current situation by lowering your monthly payments.

Missed Payments

The first thing you must do after you have missed payment is to call us so we can discuss options to avoid defaulting on your student loan.


It is important to know that right after you miss a payment your account becomes delinquent, and this will not change until you make your payment, discuss changing your repayment plan or decide to go into deferment or forbearance. Contact us immediately so we can help you find the best option for you.


If you keep missing your payments, your loan account will go into default. The time for this to happen depends on what type of loan you took. Contact Student Loan Forgiveness instantly, and we will help you go through the process. It is important to know that you may face serious consequences if you let your loan account get to this stage, such as not being able to discuss deferment or forbearance, you can't choose your repayment plan, you can be taken to court, and more.

Paying ahead of time

If you want or are able to pay extra on your monthly payments or pay before the due date, you may do so. This will reduce your interest and decrease the total amount of your loan over time.

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