The University of Memphis and the Student Financial Aid Office understands the effect of the recession on many of our students and their families.   Student loan borrowers are especially being hit hard as they graduate during a time of high unemployment rates or lower paying jobs.  Needless to say, student loan defaults are at their highest rate.

It is essential for those who are having difficulty paying their student loans to be informed about repayment options.  For example, students can apply for deferments or forbearances.  In certain instances, a student may qualify for loan forgiveness.  While loan forgiveness is a long term method, it is just one of the ways to make the student loan repayment process a bit more manageable.

For more information about deferments, forbearances, and loan forgiveness, please visit the websites below:

http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp