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Solutions for repayment problems for Direct PLUS Loans / Federal PLUS Loans for parents

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If you experience financial difficulty, your loan holder offers options that may temporarily reduce or suspend your monthly payments. Don’t wait! Contact your loan holder immediately to check on a possible deferment or forbearance. However, continue making your payments until you receive written notification that deferment or forbearance is granted.

A deferment is a period of time during which your loan holder suspends your regular payments.

Forbearance is a period of time during which your loan holder temporarily reduces or suspends your regular payments.

Mandatory forbearance conditions do exist and are explained in the Master Promissory Note.

If you die or the student for whom you borrowed the loan dies, your PLUS Loan obligation is cancelled. Your loan also may be cancelled in other situations. Learn more. Generally, however, federal student loans are not cancelled or discharged due to bankruptcy.