How do I get a deferment or forbearance when a student loan company wont let me?
Once you go into default, the rules change regarding student loans. They aren’t obligated to give you those mandatory forbearance’s or even keep your interest at a reasonable amount. Once you go into default, they will hike your interest, charge exorbitant fees and take your income tax refunds. The best thing you can do is to (if they are federal loans) do something called “Rehabilitate” your loan. Its a gov program where basically you make 6 -12 months worth of reasonable and timely payments and then you are issued a new loan. This way you can go to grad school on fin aid. You will need to wait on grad school for a year or so, unless you just have cash laying around to pay for it. But in that case, I would use it to pay down the loan, rather than grad school.
