What is a partial financial hardship?
Partial financial hardship is a situation in which the annual amount due on all of the your eligible FFEL and Direct Loans (as calculated under a standard repayment plan based on a 10-year repayment period) exceeds 15% of the result obtained by calculating, on at least an annual basis, the difference between the borrower’s (and spouse’s, if applicable) adjusted gross income and 150% of the poverty line applicable to the borrower’s family’s size.
