There’s only one lendor still offering consolidated student loans. That one lender is the US Department of Education. Are you having a hard time paying for your loan because of economic problems? The US Department of Education will allow you to defer your payments for up to 3 years because of money troubles.While your not paying your loan, Uncle Sam will pay any interest incurred on your Standford loan during the period of non-payment.
For most people with economic troubles who aren’t making a lot of money, income-based repayment is the answer for you. Income-based payment is a payment plan that bases your monthly on the amount of income you currently make. For more information on income-based payment see our post entitle “Income -Based Repayment Can SLASH Your Monthly Payments”
To reach the Department of Education call 800-557-7392