Asked by Meredith L  |  Submitted August 17, 2015

I've been out of work for nearly 2 years and I don't want to default on my federal student loans...but I have to eat. What are my options?

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  Answers  |  1

August 25, 2015

Meredith,

Great question. Know that you are no alone in this concern. There are thousands of people who are struggling to pay their student loan bills.

Depending upon your circumstances, there are 2 options that can work for you. A lot of this will depend on who holds your student loans. The options are deferment and forbearance. The government webpage does a good job explaining the difference and how to apply for them. Take a look: https://studentaid.ed.gov/sa/repay-loans/deferment-forbearance.

I hope this helps.
Charlie

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