Forbearance benefits are limited to up to a maximum of three (3) years or 36 months.
The borrower may qualify for forbearance of loan payments if the borrower’s total monthly payments on all Title IV loans equals or exceeds 20% of his or her gross monthly income.
The borrower may also qualify due to poor health or other acceptable reasons or if the U.S. Department of Education authorizes a period of forbearance due to a national military mobilization or other national emergency.
Interest continues to accrue during the forbearance period and is payable either monthly or in a lump sum at the end of the forbearance period. A forbearance is granted in intervals of six (6), nine (9) or 12-month increments.