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For those struggling to make student loan payments, forbearance may seem like an appealing option. With forbearance, borrowers can temporarily stop making payments or make smaller payments.
MOHELA was the first servicer to use mass administrative forbearance while dealing with a backlog of paperwork and attempt to figure out new payment amounts under IDR, including the new SAVE plan.
Awaiting Form Administrative Forbearance? means your student loan servicer is reviewing an application for a program like SAVE or an income-driven repayment plan. This status temporarily suspends or reduces your federal student loan payments during the review process.
Administrative Forbearance: A temporary suspension of, a reduction of, or an extension of time for making principal and/or interest payments on a Stafford, SLS, PLUS, or Consolidation loan that is granted by the holder or lender, upon notice to the borrower or endorser, and that does not require a written request from ...