Can You Delay or Lower Student Loan Payments? Options Inside

💸 Can You Delay or Lower Your Student Loan Payments? Here Are Your Options

With federal student loan collections set to resume fully in May 2025, many borrowers are wondering:
"Is there any way to pause my payments or make them more affordable?"
The good news? Yes — there are several ways to delay or reduce your student loan payments, especially if you're struggling financially.

Let’s explore how you can lower the pressure and avoid default through government-supported repayment plans, deferments, or forbearance.

⏳ 1. Deferment: Postpone Without Interest (Sometimes)

Deferment allows you to temporarily stop making payments on your student loans under specific conditions, such as:

• Unemployment

• Economic hardship

• Military service

• Returning to school at least half-time

👉 Important: If you have subsidized loans, interest does not accrue during deferment. But for unsubsidized loans, interest still builds up.

You’ll need to apply through your loan servicer and submit documentation proving eligibility.

🛑 2. Forbearance: Short-Term Relief (With Interest)

Forbearance also lets you pause or reduce payments — but interest always accrues, no matter your loan type.

You can request:

• General forbearance (due to illness, job change, or financial struggles)

• Mandatory forbearance (e.g., medical residency, National Guard duty)

Most forbearance periods last up to 12 months, with a cap on how much time you can spend in forbearance over the life of the loan.

💼 3. Income-Driven Repayment Plans (IDR): Reduce Payments Based on Income

This is often the best long-term solution for borrowers with low income.

There are four IDR plans that base your monthly payment on your income and family size:

• SAVE Plan (formerly REPAYE)

• PAYE Plan

• IBR (Income-Based Repayment)

• ICR (Income-Contingent Repayment)

Under these plans, your monthly payment could be as low as $0, and any remaining balance may be forgiven after 20–25 years of payments.

💳 4. Loan Consolidation: Reset Default or Access New Plans

If you're in default or have multiple loans, federal loan consolidation can help:

• Bring all your loans under a single servicer

• Re-enter good standing

• Get access to IDR plans or deferment again

But remember: consolidating resets your forgiveness clock, so be sure to time this wisely.

👥 5. Temporary Hardship? Ask for a Graduated or Extended Plan

• Graduated Repayment Plan: Payments start low and increase every two years

• Extended Repayment Plan: Spreads payments over 25 years to reduce monthly pressure

These aren’t income-based but help borrowers who need predictable but reduced payments for now.

🧠 Quick Tip: Act Before Collections Begin

Once collections resume, options shrink, and you could face:

• Wage garnishment

• Tax refund seizure

• Damaged credit scores

💡 If you’re already in default, consider:

• Loan rehabilitation (9 payments in 10 months)

• Consolidation to reset status

✍️ Final Word

If your student loan payments feel impossible right now — you're not alone. Fortunately, the federal system offers several tools to help you delay or reduce payments without falling into default. But time is ticking, especially with collections restarting in May 2025.

📌 Take action now — reach out to your loan servicer, review your income, and pick a plan that keeps your finances secure.