Student loan forbearances, or credit unions, are one of the most common forms of forbearance.
They can come in many forms, and the government typically gives them a one-year grace period after they first apply.
You can use them to reduce your monthly payments.
If you’re in a debt-to-income situation, they can also help you pay down a debt.
If your income is low, they might help you borrow money.
And if you’re trying to pay down your student loan debt, they’re a great way to make your payments and help you avoid a late payment penalty.
Here’s what you need to know about student loan forgiveness and credit unions.