Sometimes called "excessive debt forbearance," this mandatory forbearance requires your lender to let you postpone your student loans in certain cases of economic hardship. Forbearance time is limited, so do not use it unless you really need to.
Note: "Mandatory" here means that the servicers are required to allow it, not that you are required to use it. This makes it different from other kinds of forbearance, which are generally granted at the lender or servicer's discretion.
You qualify for this forbearance if the payments on your federal student loans are greater than 20% of your gross monthly income.
Forbearance time is limited, so do not use it unless you really need to.
What You'll Need
Documentation of your federal student loan debt and your income.
Where To Send This Form
The Department of Education has released a single application form, which is valid for all federal student loan servicers. Submit this to your servicer (the company that sends you the bills). If you don't know who that is, you can go to the National Student Loan Data System (NSLDS®) to find out.