Deferring Student Loans
Paying for higher education is a common problem in America today. Millions of students are unable to pay inflated tuition rates and in lieu of financial assistance, they take out loans. While many of these government loans allow grant students a 6-9 month grace period post graduation to begin payments, it is often not enough, causing recent grads to default on their loan payments.
If you or someone you know is struggling to keep up with their student loans, you do have options. Contact a West Palm Beach bankruptcy attorney at the law offices of Eric N. Klein & Associates, P.A. to discuss the details of your financial situation. Call 561-353-2800 today to schedule a free consultation.
Deferring Loans
One option for post grads in the midst of a financial crisis is to apply for a deferral. Loan deferrals allow debtors to postpone making payments. In some cases, you may not be required to pay the interest on your loan while it is deferred. In order to qualify for a deferral, you must be at least one of the following:
- Enrolled in graduate school, or have been granted an internship or fellowship for continuing education
- Unable to work due to a physical disability
- Unemployed
- Undergoing financial hardships
- In the Peace Corps or a similar volunteer organization
- A new parent or working mother
- In, or recently released from, the military
If you think you may qualify for a deferral on your student loans, contact your loan provider for more information regarding your options. If you do not qualify for deferment, consider forbearance, which is another way to postpone payments on your loans.
Contact Us
The West Palm Beach bankruptcy attorneys at the law office of Eric N. Klein & Associates, P.A. understand how hard it can be pay off your debts. For more information on loans, debts, and bankruptcy, contact our team of experienced professionals at 561-353-2800.
