One of the most common reasons student loan borrowers default on their payments? They can’t find work.
It makes sense: no income, no money for loan payments—especially if you’re struggling to cover more pressing needs (rent, food, etc.). However, unemployed federal student loan borrowers may have an option to help them: an unemployment deferment.
Mike, a student loan counselor at SALT™, talks about this and other postponements that can keep loans in good standing while borrowers get back on their feet.
Watch the video below to learn more.
Check out more videos from SALT on our YouTube channel.