Forbearance
If you do not qualify for a deferment, you may be eligible to request forbearance from your lender. Forbearance is the temporary postponement or reduction in your monthly payment. Often the amount of time it takes to repay your loan is extended. Interest continues to accrue during the period, increasing the loan balance.
There are several different types of forbearance available depending on your situation. Forbearance must be approved by your lender. Please call your lender or EdFund’s Default Prevention Services at 800.298.9490 for help determining which type of forbearance may work best for you.
Forbearance can be applied to both past delinquency and future payments, and is applied in up to twelve month increments. Multiple periods can be used and maximums are specific to your lender. Forbearance can be applied verbally with your lender, or submitted in writing depending on the delinquency of your loan.
To request a written forbearance send the completed forbearance request form (L-48) form to your lender, fax it to EdFund at 866.423.7033 or mail to:
EdFund Default Prevention Services
P.O. Box 419035
Rancho Cordova, CA 95741-9035
Additional forbearances are also available for:
- Child care provider loan forgiveness (L-133)
- Teacher loan forgiveness ( L-19)
U.S. Department of Education deferment/forbearance information
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