| Due to the global economy crisis last year, many | | | | would be at least a temporary fix for you that you |
| people started to consolidate their student loans | | | | will be able to suspend your monthly loan repayment |
| after graduation. They were taking advantage of the | | | | temporarily. This quick fix is useful if you are not |
| student debt consolidation which offers a 6-month to | | | | qualified for a determent but you are qualified on the |
| 12-month grace period. Since they are facing the | | | | basis of financial hardship. |
| difficulties to look for a job, they make use of the | | | | You can approach your lender and apply for |
| grace period to defer their payments. However, time | | | | forbearance. This effort is indeed important as it |
| flies very fast. Based on the current economy | | | | helps you to delay your payment for several months |
| situation, getting a job is indeed hard. For those | | | | and it will not have too many negative effects on |
| people who have already consolidated their student | | | | your credit score. The duration can make a big |
| loans but they are still struggling to make monthly | | | | difference where you are given some time to |
| payment after the grace period, what can be done | | | | accumulate some cash through a part time job or |
| to assist them? | | | | freelance work. |
| Don't worry if you really can't make any repayment | | | | To sum up, applying for forbearance is a temporary |
| when you are really jobless and have zero income. | | | | solution that provides you some breathing room to |
| The suggestion here is looking for forbearance. It | | | | manage your cash flow. |