Borrowers who find themselves in a short-term difficulty, such as a medical leave or temporary unemployment, might want to consider forbearance, said Mark Kantrowitz, an expert on financial aid and publisher of SavingForCollege.com.
A forbearance typically lasts a year, and borrowers can use the option up to three times.
If possible, however, people should request a partial forbearance and keep up with at least their interest payments during the break.
“This will prevent your loan from growing larger during the forbearance,” Kantrowitz said.
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