Student Loan Debt Burden Mandatory Forbearance Request

Federal Student Loan Program: Internship/Residency and Loan Debt Burden Forbearance Forms

1845-0018 SLDB Forbearance 30D 20240925

Federal Student Loan Program: Internship/Residency and Loan Debt Burden Forbearance Forms

OMB: 1845-0018

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MANDATORY FORBEARANCE REQUEST
STUDENT LOAN DEBT BURDEN
William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family
Education Loan (FFEL) Program / Federal Perkins Loan (Perkins Loan) Program

OMB No. 1845-0018
Form Under Review
Expiration Date
xx/xx/xxxx

WARNING: Any person who knowingly makes a false statement or misrepresentation on this form or on
any accompanying document is subject to penalties that may include fines, imprisonment, or both,
under the U.S. Criminal Code and 20 U.S.C. 1097.
You never need to pay for help with your federal student loans. Your loan servicer will help you for FREE.
Contact your servicer if you have questions about this form or need any information regarding your
federal student loans.
SECTION 1: BORROWER INFORMATION
Please enter or correct the following information.
Check this box if any of your information has changed.
Social Security Number (SSN) _________________________________________
Date of Birth (mm-dd-yyyy) ___________________________________________________
Name __________________________________________________________________
Address __________________________________________________________________
City _________________________________________
State ____________
Zip Code ____________
Phone – Primary ___________________________________
Phone - Alternate___________________________________
Email ___________________________________
SECTION 2: BORROWER DETERMINATION OF FORBEARANCE ELIGIBILITY
Carefully read the entire form before completing it. Complete Section 2 in its entirety. Maximum
eligibility is 36 months. As an alternative to this forbearance, you may qualify for a deferment (which
has an interest benefit for some loan types) or for a repayment plan that determines your monthly
payment amount based on your income. Visit StudentAid.gov/IDR for more information on repayment
plans based on income.
1. Do you currently have taxable income?
Check "No" if you do not have any income or only receive untaxed income.
Yes - Continue to Item 2.
No - Skip to Section 3.
2. What is your total monthly taxable income? _________________________
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Expiration Date
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Attach documentation of your monthly income, such as a tax return, W-2s, paystubs, or dividend
statements. Monthly income is either (you choose):
•
•

Your gross taxable income from all sources; or
One-twelfth of the Adjusted Gross Income from your most recent federal income tax return.

3. Multiply the amount in Item 2 by 20% (0.20): ___________________
4. What is the total amount of your monthly payments on all of your Title IV loans? (See Section 5)
_____________________
You must attach documentation of your most recent monthly payments due on each of your Title IV
loans, such as a monthly statement or repayment schedule.
5. Is the amount reported in Item 4 equal to or greater than the amount calculated in Item 3?
Yes - Continue to Section 3.
No - You are not eligible for this forbearance.
SECTION 3: BORROWER REQUESTS, UNDERSTANDINGS, CERTIFICATIONS, AND AUTHORIZATION
I request:
•

My loan holder grant forbearance for the period during which I meet the qualifications for the
forbearance. If approved for a forbearance, I would like to:
Temporarily stop making payments; or
Make smaller payments in the amount of _____________ per month.

•
•
•

My forbearance begin on the following date: (mm-dd-yyyy) _____________ .
My loan holder grant my forbearance for up to 12 months unless I specify an earlier end date:
(mm-dd-yyyy)___________ .
If checked, to make interest payments on my loans during forbearance.

I understand:
•

I am not required to make payments of loan principal or interest during forbearance.

•

My forbearance will begin on the later of the date my loan holder determines, or the date I
requested.

•

My loan holder may grant me a forbearance while processing my form or to cover any
period of delinquency that exists when I submit my form.

•

My forbearance will end on the earlier of the date I exhaust my maximum eligibility for the
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OMB No. 1845-0018
Form Under Review
Expiration Date
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forbearance, 12 months from the date my forbearance begins, on the date I am no longer
eligible for the forbearance, or the end date I requested.
•

My forbearance will only be granted in increments of up to 12 months, and I must reapply
for the forbearance if I continue to meet the eligibility requirements and want to extend my
forbearance.

•

Interest may capitalize on my FFEL Program loans that are not held by the Department
during or at the expiration of my forbearance, but interest never capitalizes on Perkins
Loans.

•

If I do not qualify for this forbearance, my loan holder may apply a discretionary (general)
forbearance for the same period if I am eligible.

I certify that:
•

The information I have provided on this form is true and correct.

•

I will provide additional documentation to my loan holder, as required, to support my
forbearance eligibility.

•

I will notify my loan holder immediately when my eligibility for the forbearance ends.

•
•

I have read, understand, and meet the eligibility requirements in Section 2.
I will repay my loans according to the terms of my promissory note, even if my request is not
granted.

I authorize the entity to which I submit this request and its agents to contact me regarding my request
or my loans at any cellular telephone number that I provide now or in the future using automated
telephone dialing equipment or artificial prerecorded voice or text messages.
Borrower's or Endorser’s Signature _______________________________________________________
Date (mm-dd-yyyy)____________________________________________
SECTION 4: INSTRUCTIONS FOR COMPLETING THE FORM
Type or print using dark ink. Enter dates as month-day-year (mm-dd-yyyy). Example: March 14, 2024 =
03-14-2024. Include your name and account number on any documentation that you submit with this
form. If you want to apply for a forbearance on loans that are held by different loan holders, you must
submit a separate forbearance request to each loan holder. Return the completed form and any
required documentation to the address shown in Section 6.
If you are an endorser, you may request forbearance only when you are required to repay the loan
because the borrower is not making payments. If you have a loan that was made jointly to you and your
spouse (as co-makers), both of you must individually meet the requirements for a forbearance and each
of you must submit a separate forbearance request.
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OMB No. 1845-0018
Form Under Review
Expiration Date
xx/xx/xxxx

SECTION 5: DEFINITIONS
Title IV loans are student loans that you received under the Direct Loan Program, the FFEL Program, and
the Perkins Loan Program.
The William D. Ford Federal Direct Loan (Direct Loan) Program includes Federal Direct Stafford/Ford
(Direct Subsidized) Loans, Federal Direct Unsubsidized Stafford/Ford (Direct Unsubsidized) Loans,
Federal Direct PLUS (Direct PLUS) Loans, and Federal Direct Consolidation (Direct Consolidation) Loans.
The Federal Family Education Loan (FFEL) Program includes Federal Stafford Loans, Federal PLUS Loans,
Federal Consolidation Loans, and Federal Supplemental Loans for Students (SLS).
The Federal Perkins Loan (Perkins Loan) Program includes Federal Perkins Loans, National Direct
Student Loans (NDSL), and National Defense Student Loans (Defense Loans).
Capitalization is the addition of unpaid interest to the principal balance of a Direct Loan Program or FFEL
Program loan (interest never capitalizes on Perkins Loans). Capitalization causes more interest to accrue
over the life of the loan and may cause your monthly payment amount to increase. The Capitalization
Chart below provides an example of the monthly payments and the total amount repaid for a $30,000
unsubsidized FFEL Program loan. The example loan has a 6% interest rate and the example forbearance
lasts for 12 months and begins when the loan entered repayment. The example compares the effects of
paying the interest as it accrues or allowing it to capitalize.
A co-maker is one of the two individual who are joint borrowers on a Direct or Federal Consolidation
Loan or a Federal PLUS Loan. Both co-makers are equally responsible for repaying the full amount of the
loan.
A deferment is a period during which you are entitled to postpone repayment of your loans. Interest is
not charged to you during a deferment on your subsidized loans. Interest is always charged to you
during a deferment on your unsubsidized loans. Unpaid interest that accrues during a deferment on an
unsubsidized Direct Loan or on an unsubsidized FFEL Program loan that is held by the Department is
capitalized at the end of the deferment period. Unpaid interest that accrues during a deferment on a
FFEL Program loan that is not held by the Department is capitalized at the end of the deferment but may
be capitalized as frequently as quarterly on loans disbursed prior to 7/1/2000.
On loans made under the Perkins Loan Program, all deferments are followed by a post-deferment grace
period of 6 months, during which time you are not required to make payments.
An endorser is an individual who agrees to repay a Direct PLUS Loan or Federal PLUS Loan if the
borrower does not repay the loan.
A forbearance is a period during which you are permitted to postpone making payments temporarily,
allowed an extension of time for making payments, or temporarily allowed to make smaller payments
than scheduled. Interest is charged during a forbearance on both subsidized and unsubsidized loans.
Unpaid interest that accrues during a forbearance on a Direct Loan or on a FFEL Program loan that is
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Form Under Review
Expiration Date
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held by the Department is not capitalized. Unpaid interest that accrues during a forbearance on a FFEL
Program loan that is not held by the Department may be capitalized at the end of the forbearance but
may be capitalized as frequently as quarterly on loans disbursed prior to 7/1/2000.
The holder of your Direct Loans is the Department. The holder of your FFEL Program loans may be a
lender, guaranty agency, secondary market, or the Department. The holder of your Perkins Loans is an
institution of higher education or the Department. Your loan holder may use a servicer to handle billing
and other communications related to your loans. References to “your loan holder” on this form mean
either your loan holder or your servicer.
A subsidized loan is a Direct Subsidized Loan, a Direct Subsidized Consolidation Loan, a Federal
Subsidized Stafford Loan, and portions of some Federal Consolidation Loans.
An unsubsidized loan is a Direct Unsubsidized Loan, a Direct Unsubsidized Consolidation Loan, a Direct
PLUS Loan, a Federal Unsubsidized Stafford Loan, a Federal PLUS Loan, a Federal SLS, and portions of
some Federal Consolidation Loans.
Capitalization Chart (Note: this chart only applies to FFEL Program loans that are not held by the
Department)
Treatment of Interest
with Forbearance

Loan
Amount

Capitalized Outstanding
Interest
Principal

Monthly
Payment

Interest is paid

$30,000

$333

Interest is capitalized at
the end

$30,000

$1,800

$31,800

$353

SECTION 6: WHERE TO SEND THE COMPLETED APPLICATION
Return the completed form and any documentation to:
(If no address is shown, return to your loan holder.)

SECTION 7: HELP WITH COMPLETING THE APPLICATION
If you need help completing this form, call:
(If no phone number is shown, call your loan holder.)

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Number
Total
of
Repaid
Payments
120
$41,767
120

$42,365

OMB No. 1845-0018
Form Under Review
Expiration Date
xx/xx/xxxx

SECTION 8: IMPORTANT NOTICES
Privacy Act Statement.
Authority: The authorities for collecting the requested information from and about you are §421 et seq.,
§451 et seq., or §461 of the Higher Education Act of 1965, as amended (20 U.S.C. 1071 et seq., 20 U.S.C.
1087a et seq., or 20 U.S.C. 1087aa et seq.) and the authorities for collecting and using your Social
Security Number (SSN) are §§428B(f) and 484(a)(4) of the HEA (20 U.S.C. 1078-2(f) and 1091(a)(4)) and
31 U.S.C. 7701(b). Participating in the William D. Ford Federal Direct Loan (Direct Loan) Program, Federal
Family Education Loan (FFEL) Program, or Federal Perkins Loan (Perkins Loan) Program and giving us
your SSN are voluntary, but you must provide the requested information, including your SSN, to
participate.
Purpose: The principal purposes for collecting the information on the Mandatory Forbearance Request
form for Student Loan Debt Burden, including your SSN, are to verify your identity, to determine your
eligibility to receive a loan or a benefit on a loan (such as a deferment, forbearance, discharge, or
forgiveness) under the FFEL and/or Direct Loan Programs, to permit the servicing of your loans, to
enforce the conditions or terms of a title IV, HEA obligation, to originate, disburse, service, collect,
assign, adjust, transfer, refer, furnish credit information for, and discharge a title IV, HEA obligation, to
verify whether a title IV, HEA obligation qualifies for discharge, to determine credit balances to be
refunded by the U.S. Department of the Treasury (Treasury) to the individual or loan holder, and, if it
becomes necessary, to locate you and to collect and report on your loans if your loans become
delinquent or default. We also use your SSN as an account identifier and to permit you to access your
account information electronically.
Disclosures: The information provided on the Mandatory Forbearance Request form for Student Loan
Debt Burden will only be disclosed outside of the U.S. Department of Education (Department) with prior
written consent or as otherwise allowed by the Privacy Act of 1974, as amended (Privacy Act) (5 U.S.C.
552a). One of the exceptions to the Privacy Act’s prior written consent requirement that allows for
disclosure, without consent, is for “routine uses” that the Department publishes in our System of
Records Notices (SORNs). The Department may disclose, without consent, the information provided on a
Graduate Fellowship Deferment form, on a case-by-case basis or under a computer matching program,
to third parties pursuant to the routine uses identified in the “Common Services for Borrowers (CSB)
System” (18-11-16) SORN. This notice is available on the Department’s “Privacy Act System of Record
Notice Issuances (SORN)” webpage located at https://www2.ed.gov/notices/ed-pia.html.
These routine uses include, but are not limited, to the following:
•

To verify the identity of the individual who records indicate has applied for or received title IV,
HEA program funds, disclosures may be made to guaranty agencies, educational and financial
institutions, and their authorized representatives; to Federal, State, Tribal, or local agencies, and
their authorized representatives; to private parties, such as relatives, business and personal
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•

OMB No. 1845-0018
Form Under Review
Expiration Date
xx/xx/xxxx

associates, and present and former employers; to creditors; to consumer reporting agencies; to
adjudicative bodies; and to the individual whom the records identify as the party obligated to
repay the title IV, HEA obligation;
To determine program eligibility and benefits, disclosures may be made to guaranty agencies,
educational and financial institutions, and their authorized representatives; to Federal, State, or
local agencies, and their authorized representatives; to private parties, such as relatives,
business and personal associates, and present and former employers; to creditors; to consumer
reporting agencies; and to adjudicative bodies;
To provide customers with information to help them make informed decisions on repayment
options, including deferment, forbearance, and recurring auto debit, based on their unique
situations, disclosures may be made to guaranty agencies, educational and financial institutions,
and their authorized representatives; and to Federal, State, or local agencies, and their
authorized representatives.

For additional routine uses, view the “Common Services for Borrowers (CSB) System” (18-11-16) SORN.
This notice is available on the Department’s “Privacy Act System of Record Notice Issuances (SORN)”
webpage located at https://www2.ed.gov/notices/ed-pia.html.
Consequences of Failure to Provide Information: Participating in the Federal Family Education Loan
(FFEL) Program or the William D. Ford Federal Direct Loan (Direct Loan) Program and providing the
Department your SSN and requested information is mandatory to participate.
Paperwork Reduction Notice. According to the Paperwork Reduction Act of 1995, no persons are
required to respond to a collection of information unless such collection displays a valid OMB control
number. The valid OMB control number for this information collection is 1845-0018. Public reporting
burden for this collection of information is estimated to average 12 minutes per response, including
time for reviewing instructions, searching existing data sources, gathering and maintaining the data
needed, and completing and reviewing the collection of information. The obligation to respond to this
collection is required to obtain a benefit in accordance with 34 CFR 674.33, 682.211, or 685.205.
If you have comments or concerns regarding the status of your individual submission of this form,
contact your loan holder directly.

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File Type	application/pdf
Author	Jon Utz
File Modified	2024-09-25
File Created	2024-09-25