It is granted in 1-6 month intervals. This loan type is eligible for 12 months maximum of hardship forbearance which is granted in 6-month intervals. The endorser must submit a letter stating their inability to pay on the loan along with an interest payment. Interest may be capitalized at the end of the forbearance. This loan is eligible for 24 months of hardship forbearance.
Interest is capitalized at the end of the forbearance period.
It is granted in 6 month intervals. The request must be reviewed and approved by Mellon Bank. The borrower is responsible for monthly interest payments while on forbearance. Interest will capitalize. SEA Eligible for 24 months hardship forbearance.