How To Request a Forbearance with Navient

Interested to know how to request a forbearance? We have listed some steps and instructions to facilitate the process of requesting a forbearance with Navient.

If you have any questions please contact us at 877.433.7501 (option 2). We are here to help you!

But first make sure you understand all the details about forbearance student loans, and how a Navient servicer handles it.

(NOTE: Wondering how or why to forbear your student loans? Don’t make any moves before reading this FREE guide: 10 Things You Should Know About Student Loan Forbearance and Deferment. Find out which option is best for you and how to apply for the right one the right way. Click here to learn more and get your free guide.)

Up Next: How Much Do I Owe In Student Loans?

How to Request a Forbearance | Understanding the Process

What is Forbearance?

Forbearance is a period in which your student loan payment is temporarily suspended or reduced, usually for a limited number of months but with a maximum allowed time period of 12 months.

Typically, federal student loans in a standard repayment plan are 10-25 years. Your forbearance must take place within that time frame.

You can request a forbearance if you are experiencing a financial hardship or medical issue.

But remember, interest always accrues on federal loans during a forbearance. The accrued interest will be capitalized at the end of your forbearance period if you do not pay it off during the forbearance period.

These are the three main types of forbearances:

Temporary cessation of monthly payments
Temporary reduction in the monthly payment amount (e.g., interest-only payments)
Extension of the repayment time-frame

Why Request a Forbearance

Forbearance requests are a great way to deal with unexpected life events that cause additional financial strain. If you have federal student loans and you are confronting financial difficulties, you may be eligible for forbearance.

Keep in mind that placing your loan in a forbearance will not release you from your loan obligations.

You’re entitled to a federal student loans forbearance if you’re:

In school even if a part-time student
Unemployed or extended job loss
Receiving benefits from the state or federal government — for example, through the Supplemental Nutrition Assistance Program typically known as food stamps or Temporary Assistance for Needy Families or welfare.
Earning a monthly income of less than 150% of your state’s poverty guideline. Every state is different and you’ll need to check your specific state.
In the Peace Corps.
On active military duty.
In the process of qualifying for Perkins loan cancellation.

Step 1:

Download Forbearance Request Navient Forms

Click Here to Download the Navient Forbearance Form

Step 2:

Complete The General Forbearance Request Form and Return to Servicer:

Information on what to complete in the General Forbearance Request Form:

Carefully read the form before proceeding
Complete steps 1-4 in Section 2
Sign your name and enter the date you signed in Section 3
Return the completed and signed forbearance agreement:

Return Completed Forms To:

Navient Solutions
P.O. Box 9500
Wilkes-Barre, PA 18773-9500
Fax# 800-848-1949

And

Navient/Department of Education
Po Box 9635
Wilkes-Barre, PA 18773
Fax# 866-266-0178

If you want to speak with Navient directly, here’s the Navient customer service number:

1 (888) 272-5543

What to do next

Review the form for completeness before sending incorrect or incomplete information, since it will delay the processing of your forbearance.
If mailing, allow 2 weeks from the time you mail this form for processing.
Navient will notify you for approvals or if you do not qualify for forbearance.

Until your request has confirmation for approval, you are responsible for making your regular monthly payments.

If you are currently in auto pay, please make every effort to return your completed forbearance form at least 15 days prior to your next payment due date to ensure your forbearance is processed prior to your next automatic withdrawal. Otherwise, the payment extraction for that month may occur.

Until your forbearance is approved, your loan(s) is due to be paid on schedule. If you’re past due on your loan payments, it’s especially important you return the completed form immediately.

This forbearance will not remove previously reported delinquency with the consumer reporting agencies.

Do This During Your Forbearance With Navient

Considering you are in forbearance to reduce your monthly payments, this suggests you are struggling to make the payments, but you also have the desire to handle your financial obligations.

To give yourself some breathing room, one option student loan borrows have, is to process a consolidation or make a repayment plan change during the forbearance period.

These type of changes can lower your monthly payment to a more manageable one when your forbearance period ends.

If you are going into consolidation – your forbearance period needs to be at least three months as this is the typical time frame.

If you are making a repayment plan change only – your forbearance period needs to be at least two months.

What happens if after my forbearance I don’t pay?

Let’s say they grant you a 12-month forbearance period. At the 12th month mark, you have a decision. You are either (hopefully) consolidated and are making payments OR you decide not to pay.

After nine months of none payment, you are considered to be in default on your federal student loans.

If you don’t pay month 21, your phone will start to ring with collection agencies harassing you. While this may not bother some people, here’s the thing to worry about:

You can’t enroll in any repayment plans.
Your entire balance is due immediately.
Your interest and fees are accruing.

It can get really nasty.

To avoid this you go into what’s called a rehabilitation program you can read more about that here.

Watch this video by Consumer Debt Counselors about student loan forbearance:

There’s nothing wrong with requesting a forbearance with Navient, or any other student loan servicer. Just know what to expect, the options you have, and what to watch out for

. If you have any questions feel free to comment below, email us directly at onboarding@usstudentloancenter.org or call toll free at 877 433 7501.

Do you find the article helpful in making your decision on requesting a forbearance? Share your thoughts in the comments section below!

Up Next: Income-Based Repayment Plan

Editor’s Note: This post was originally published in March 2014 and has been updated for quality and relevancy.