Forbearance Request Eligibility

• Hardship: This type of forbearance can be granted when a borrower has shown that repayment of his/her student loan(s) would constitute a hardship under his/her current economic situation. This forbearance may be granted based upon CollegeInvest's discretion.
   
• Internship/Residency: This type of forbearance may be granted when a borrower has used his/her maximum twenty-four (24) months of internship/residency deferment. The borrower must return the signed forbearance form, along with documentation verifying his or her internship/residency position, and the dates he/she is registered with the program. The forbearance may be granted in yearly increments or through the end of the internship/residency period depending on which is more recent.
   
• Alignment of Repayment: This type of forbearance may be granted to borrowers who wish to align the repayment of Federal Stafford Loans and Federal Supplemental Loans for Students (SLS). Since Federal Stafford Loans receive a grace period after the student's graduation date, a forbearance is offered to Federal SLS loans to bring all loans in the borrower's account into repayment at the same time. The borrower must have both Federal Stafford and Federal SLS loans to be eligible for this forbearance. The SLS loan must have been on a school deferment from the time of its disbursement to the student's graduation date.
   
• Mandatory: This type of forbearance is granted to:
  1) borrowers whose Title IV student loan gross monthly payments are equal to or exceeds 20% of the borrower's individual gross income. The borrower must return the signed forbearance form, along with documentation verifying his or her most recent total monthly gross income from employment and all other sources, and documentation verifying his or her monthly payments on all Title IV student loans
  
  2) borrowers who are serving in a national service position. The borrower must return the signed forbearance form, along with documentation from their national service supervisor, verifying the program he/she is participating in, and the dates he/she will be involved in the program, or
  
  3) borrowers who are performing military service that would require the borrower to be in repayment of the loan under the Student Loan Repayment Programs administered by the Department of Defense. The borrower must return the signed forbearance form, along with documentation verifying the dates he/she is considered to be eligible for this program.
   
•  Mandatory Administrative: This type of forbearance is granted to:
   1) borrowers due to local or national emergency
   
   2) borrowers if the geographic area in which the borrower resides has been designated a   
   disaster area by the president of the United States or Mexico, the prime minister of Canada, or by a
   governor of a state, or
   
   3) borrowers involved in a military mobilization. A military mobilization is defined as a situation in
   which the U.S. Department of Defense orders members of the National Guard or the Reserves to
   active duty. The borrower must provide documentation showing that the borrower is subject to a
   military mobilization.
   
   *For 1) and 2), the borrower is not required to submit a written request for this forbearance.  Please contact our Loan Counseling department to discuss this option at 800-886-1981.