Repayment Schedule

• 1). Contact the student loan lender and ask what repayment programs they have for those in student loan default.
  
  
• 2). Determine how much money you can afford to pay each month for a payment.
  
  
• 3). Make an agreement with the student loan lender to make a payment of a specific amount each month.
  
  
• 4). Make your payments on time to get out of student loan default. Some student loan lenders may require that you make a specific number of student loan payments before you may be considered on time on your repayment schedule.
  
  

Forbearance

• 1). Determine whether you qualify for a a forbearance --- a period when loan payments are suspended, but interest continues to accrue. Forbearance can be granted for economic difficulty, unemployment or re-enrollment in a college or university.
  
  
• 2). Contact the student loan lender and ask what forbearance programs they have for those in student loan default.
  
  
• 3). Discuss the forbearance options with the student loan lender.
  
  
• 4). Make an agreement with the student loan lender to follow the guidelines of the forbearance.
  
  

Deferment

• 1). Determine whether or not you qualify for a student loan deferment, which allows you to suspend payments for a specific amount of time. Interest payments are also deferred, so interest does not accrue when the payments are suspended. A deferment may be granted for economic hardship, unemployment, military deployment, enrollment in a college or university, internships, service in the National Guard and in some other situations.
  
  
• 2). Contact the student loan lender and ask what deferment programs they have for those in student loan default.
  
  
• 3). Ask for a copy of the paperwork for student loan deferment or print one out through the lender's website.
  
  
• 4). Complete the paperwork by filling out all of your personal information, such as social security number, household status, employment status, and other information. Print proof of your income or proof from the public aid office if you are receiving public assistance.
  
  
• 5). Send in a copy or fax a copy of the deferment paperwork to the student loan lender.