NC Assist Loan
Forbearance of Payments
Forbearance is a temporary postponement of payments.
Pros of Forbearance
- If unable to make payments, you may request 3 consecutive months of forbearance for a maximum of 12 months.
Cons of Forbearance
- During a forbearance period, interest will continue to accrue and will significantly increase the cost of your loan.
- Accrued, unpaid interest may be capitalized (added to the principal balance of your loan).
- Forbearance may increase the scheduled payment amount of your loan or extend the repayment period of your loan.