Get Temporary Relief 
Sometimes , you just need to suspend your student loan payments for a short period. If you re in a short - term financial bind , you may qualify for a deferment or a forbearance. With either of these options , you can temporarily suspend your payments. NEW : Automatic Suspension of Monthly Payments as a Result of the COVID-19 National Emergency To provide relief to student loan borrowers during the COVID-19 national emergency , federal student loan borrowers are automatically being placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payments. This suspension of payments will last from March 13 , 2020, through Sept. 30 , 2020 , but you can still make payments if you choose. Have questions? Find out what loans qualify and get additional information about this forbearance and other student loan flexibilities due to the COVID-19 national emergency. When it comes to deferment and forbearance , however , there are two important things to consider : In most cases , interest will accrue during your period of deferment or forbearance except in the case of certain forbearances, such as the one offered as a result of the COVID-19 national emergency. This means your balance will increase and you ll pay more over the life of your loan. If you re pursuing loan forgiveness , any period of deferment or forbearance likely will not count toward your forgiveness requirements. This means you ll stop making progress toward forgiveness until you resume repayment. Consider Another Repayment Plan First Because of the impact on interest and potential loan forgiveness , it might be worth exploring another repayment plan before you consider deferment or forbearance. For example , your payments could be more affordable if you change to an income - driven repayment plan. Contact your loan servicer to find out if another repayment plan might be the best option for you. Discuss obtaining a deferment or forbearance with you

user: I"m looking to try and stop making payments on a loan if I could but only for a short time to get caught up

assistant: Okay, so you just need to suspend your student loan payments for a short period 

assistant: Is this financial situation just short term?

user: probably not

user: is there a way to get lower payments?

assistant: It might be good for to you consider a different repayment plan such as an income-driven repayment plan. These plans base your monthly student loan payments on your income and family size. In some cases, your payment could be as low as $0 per month.

user: can we get help because of the coronavirus and job loss?

assistant: Yes, federal student loan borrowers are automatically being placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payments. This suspension of payments will last from March 13, 2020, through Sept. 30, 2020.

user: what if I go with deferment, any advice on that ?

assistant: If that is the way you go consider paying the interest that accrues during that period, so that you can avoid some of the consequences.

user: and this will allow me to miss a few payments if I do this?

assistant: Do you know if you are eligible for deferment or forbearance?