Perkins Loan Services

Forbearance

Temporary postponement of monthly payments for up to a year at a time not to exceed 3 years.

Request in writing. Provide supporting documentation.

Borrower must fall within one of the following categories:

• Used for financial hardship or poor health.
• Service in military, Americorp, military mobilization or other national emergency.
• Monthly payments on all Federal Student Aid (FSA) loans are equal to or greater than 20% of total monthly gross income (from employment and other sources). Supporting documentation required.

Interest continues to accrue monthly. Borrower may pay interest during forbearance but not required. Unpaid accrued interest must be paid at the end of the forbearance period.

Forbearance Form