by July 17th, 2010. Filed under: Financial Aid.
Diana asked:
I’m not actually done with school yet. I had to take time off due to health reasons (I was diagnosed with bipolar disorder and was just doing very poorly). I’m going back this fall, hopefully. I’ve been getting bills. At the moment, I don’t make enough to make loan payments. My income is barely enough to pay my rent and utilities. They sent me a forbearance request form so I’m going to fill it out and mail it back. Do I need to send any additional paperwork or should I just send it in and see what happens? Are they picky about granting forbearances? This is a government loan, if that makes any difference. This is causing me great anxiety so any answers would be appreciated.
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I’m not actually done with school yet. I had to take time off due to health reasons (I was diagnosed with bipolar disorder and was just doing very poorly). I’m going back this fall, hopefully. I’ve been getting bills. At the moment, I don’t make enough to make loan payments. My income is barely enough to pay my rent and utilities. They sent me a forbearance request form so I’m going to fill it out and mail it back. Do I need to send any additional paperwork or should I just send it in and see what happens? Are they picky about granting forbearances? This is a government loan, if that makes any difference. This is causing me great anxiety so any answers would be appreciated.
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Filed under: Financial Aid
July 19th, 2010 at 12:08 am
government student loans
If they sent you the request for forbearance and you have returned it…then they should notify you by mail if you have qualified and for how long the forbearance is good for. I have had to do this recently myself & I got a response rather quickly!
July 20th, 2010 at 10:01 pm
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If u are requesting forbearance due to income..they may ask for proof of how much u make (mine did).. If it’s because of illness, u may need a MD’s note.. Don’t auto send it in..it will get lost. If they need verification, they will ask u for it.. Most lenders will grant forbearances..they would rather do that then you not pay them..
July 24th, 2010 at 4:55 am
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If it is a government loan whomever is the servicer of your loan should have a website which you can look at faq and see what the qualifications of granting a forebearance is. I have asked for one in the past and I had to give a reason and my response was financial difficulties. I didnt have to provide any other documentation. It was granted for 1 year.
July 25th, 2010 at 12:35 am
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I have done several forberances and they would have let you know if documentation is needed, usually with a forberance it is not. If you were attempting a defferment that is a different situation and would need documentation. Just complete the form and mail it in but be sure to continue to make any payment you can until you receive information the forberance is in effect.
July 28th, 2010 at 12:24 pm
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no worries, they are not picky about granting your request for a forbearance.
they just want a letter, telling of your hardship, requesting a forbearance , have it notorized and mail it certified, RRR
easy as pie
next time, use scholarships/ grants only. loans suk. on lyour down time (from your medical) practice your essays.
try to aim for grants/scholarships more… they are not to be paid back. its confusing sometimes, but just keep applying.
every big (and small) company you see (manufacturer, orgs, corps and groups also) all have grants and scholarships they hand out like candy.
heres a link with a HUGE amount of some available. some you will need to copy and paste into a new window. also, fastweb (take the time to fill it in) will search databases and get back to you with a list of scholarships you qualify for.
Also contact all mens, womens associations in your state, they almost always have grants & scholarships. What ever field you are going into, contact the orgs, associations etc for them; they too always have scholarships. Research and dig, call then write. Its all worth it.
OVER apply; it doesnt hurt to have too many, and the extra funds can help with housing.
MORE:
STATUS of your gov loan or aid:
if you don’t have a PIN yet (for your loan / aid status) apply for one:
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