What does putting my student loans in forbearance mean?

April 24, 2013


Forbearance is a period during which your monthly loan payments are temporarily suspended or reduced. Your lender can grant you a forbearance if you are unable to make loan payments due to certain types of financial hardships. During forbearance, principal payments are postponed but interest continues to accrue. Unpaid interest that accrues during the forbearance will be added to the principal balance of your loans, increasing the total amount you owe.If you are in need of further assistance you can contact one of the student loan debt experts at http://www.nwcdr.com/student-loan-consolidation/ 


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