Min-wage_small
Reputation: 1421

Hardship deferral for student loans - will I get in trouble if I don't tell the Dept of Ed I have a job now?

I was working very part time last fall, applied for and got a hardship deferral through this fall - can I just wait until then to start making payments again? I also have credit cards to pay off, and I'm not being charged interest on the student loans right now. Have others been in similar situations?

Answer this question or share it with a smart friend:

Avatar_default
Type your answer here…

4 Answers

  • Img_3324_2_small
    Reputation: 1962

    I once had my payment drastically reduced do match my lower income. That was, geeze, ten, twelve years ago? I'm still paying that amount. So it can take them a while, maybe forever, to catch up to you.

    When I went back to school and got a forbearance, they found out when I graduated, but that's because the financial aid department told them.

    So yes, cut up your credit cards, pay them off, and then when you're ready, work out a payment on your student loan that is realistic. Don't sweat it but don't push your luck either; they are probably allowed to try to collect back payments if they think you really deceived them.

    Share this answer with a friend:
  • Doorbells_002_small
    Reputation: 896

    Not as long as you don't post it on a public bulletin board site.....oops!

    Share this answer with a friend:
  • Mrright-thumb_small
    Reputation: 2

    You don't have to do anything until the forbearance is up. Don't sweat it.

    Share this answer with a friend:
  • Avatar_default
    Reputation: 0
    Share this answer with a friend: