TG: The Cost of Forbearing Your Student Loan

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Unable to make your student loan payment? Is a forbearance really your best option?

Many times forbearance may not be your best option. Before you request a forbearance, consider the following options:

Consider lowering your payment with a different repayment plan. Contact your lender for more information.
Find out if you qualify for a deferment by consulting with your lender. To learn more about deferments, visit TG's Introduction to Deferments.
Find out how much interest will accrue on your loan during the forbearance period. You can do this by using the calculator below. Keep in mind that even if the interest appears to be minimal, it will add up in the long run.
Find out how much your loan payment will increase after the forbearance. You can do this by using the calculator below.

Determining the cost of forbearing your loan(s)	Enter Loan Amount	Enter Interest Rate
Loan #1	$	%
Loan #2	$	%
Loan #3	$	%
Loan #4	$	%
Loan #5	$	%
Length of expected forbearance

More Resources

Repayment Plans

For more information, contact:

TG Default Prevention
(800) 338-4752
prevent.default@tgslc.org