GENERAL FORBEARANCE REQUEST OMB No. 1845-0031 Form Approved Exp. Date 12/31/2015 William D. Ford Federal Direct Loan Program GFB WARNING: Any person who knowingly makes a false statement or misrepresentation.
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How to fill out the General Forbearance Request - Sallie Mae online
Filing a General Forbearance Request with Sallie Mae allows borrowers to temporarily suspend or reduce their loan payments. This guide provides clear instructions to help users navigate the online process effectively.
Follow the steps to complete your forbearance request online.
- Press the ‘Get Form’ button to access the General Forbearance Request form and open it in your chosen editor.
- In Section 1, provide your identifying information. Ensure your Social Security Number, name, address, phone numbers, and email address are accurate. Check the box if any information has changed.
- Move to Section 2, the Forbearance Request section. Indicate that you are experiencing a temporary hardship due to financial difficulties, employment change, medical circumstances, or another reason. Make sure to select the appropriate option.
- Specify how you would like to manage payments during the forbearance period. Choose whether you want to temporarily stop payments or temporarily make smaller payments, and indicate the amount if applicable.
- Enter the dates for which you are requesting forbearance, ensuring the format is MM-DD-YYYY. The forbearance period cannot exceed 12 months.
- Read through Section 3, which outlines the Borrower/Endorser Understandings and Certifications. By signing, you acknowledge your understanding of the terms and the responsibilities associated with your request.
- Complete Section 4, which gives detailed instructions on filling out the form. Ensure that supporting documentation is included, if required.
- Finally, review all entered information, make any necessary corrections, and save your changes. Once satisfied, proceed to download, print, or share the completed form as needed.
Begin your General Forbearance Request online today to take advantage of available support options.
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Does Sallie Mae do forbearance?
If you're having a temporary financial problem, you might want to consider putting your loan into forbearance, which lets you postpone your payments for a short time. ... Sallie Mae requires $50 per loan, with a max. of $150 per account. This payment is applied to your loan's current balance.
Is it bad to get a forbearance on a student loan?
Student loan deferment and forbearance will be noted in your credit reports, and neither will hurt your overall credit score. However, your credit score will be affected if you are late or miss a payment prior to deferment or forbearance approval.
What is a general forbearance request?
General. Also known as discretionary forbearance, general forbearance is available to you if you can't make your payments due to medical expenses, financial difficulties, employment change, or other reasons that the federal student aid office may accept.
How do I get a forbearance with Sallie Mae?
How forbearance works. As soon as you realize you won't be able to make your monthly payment, call us and explain your situation. We can help you determine if forbearance is the best option for you. There's no form to submit; our customer service team can help you set it up.
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