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If a borrower is willing but unable to financially make the required payments on a loan, he or she may request that the school grant a forbearance. This allows for a temporary postponement of payments, extension of time allowed for making payments or the acceptance of a lesser payment amount. Interest continues to accrue during any period of forbearance.

In order to obtain a forbearance, the borrower must request it in writing and provide supporting documentation that supports the borrower's claim that he or she is financially unable to make payments. Forbearance is available on all Federal Perkins and NDSL's (National Direct Student Loans) regardless of when they were made.

When the written request and supporting documentation has been received, the lending institution must grant the forbearance for a period of up to one year at a time. The forbearance may be renewed but may not exceed a total of three years.

A lending institution must grant forbearance if the total monthly payment on all Title IV student loans is equal to or greater than 20% of the borrower's total monthly gross income (defined as gross income received from employment and other sources). The following documentation must be supplied to support the request for forbearance:

  • Copies of the most recent monthly pay statement showing gross income and
  • Copies of the most recent monthly statements showing amount owed on his or her Title IV loans

Forbearance may also be granted for one of the following reasons

  • Extended illness
  • Department of Education authorized periods due to local/national emergency or national military mobilization
  • Service in Americorps

Attention: This forbearance form was created by ACS for the use of our customers (colleges and universities) and their borrowers. Please be advised that not all of our customers choose to use this form. Some schools prefer their own form and will not accept the ACS form. Please check with your school before submitting this form.

Click here to download Forbearance form.