What Happens if I Become Unemployed or Find Myself Unemployed?
It can be difficult to stay on top of our finances when student loans are part of our debt and even moreso when we find ourselves unemployed and filing for unemployment. The good news is that there may be some options out there for you.
Some, but not all, student loans will give you options when you find yourself in these situations by offering unemployment deferment. This will allow you to temporarily postpone making payments on your student loans during this time. Note that there are conditions as well of consequences of choosing deferrment, so we always encourage you to do your research prior to making this decision.
If you are interested in filing for this option, you can find the direct application for deferment of your federal student loans from the StudentAid.gov website here:
For other questions you may have, you can find us on Live Chat or via email at firstname.lastname@example.org