Forbearance Request Form
Federal Family Education Loan Program
Please read entire form before signing.
The Federal Family Education Loan Program includes Federal
Stafford Loans (both subsidized and unsubsidized), Federal
Supplemental Loans for Students (SLS), Federal PLUS Loans
and Federal Consolidation Loans.
Section 1: Borrower Information
Account Number:
Name:
Email Address (optional):
Address:
City:
State:
Telephone (primary):
Telephone (alternate):
ZIP:
Section 2: Forbearance Type Requested
In-School Forbearance (The dependent student for whom you received a PLUS Loan attends a Title
IV school at least half time.)
• Enter the required information below.
Student’s Name:
School of Attendance:
Dates of Attendance:
Grace Forbearance (Align the repayment of your Federal Consolidation Loan or a Federal PLUS
Loan disbursed before July 1, 2008, with federal loan(s) that have a six-month grace period or postenrollment deferment period.)
• Granted for a period not to exceed six months.
Temporary Hardship (You intend to repay your loan(s); however, you are unable to make the
minimum monthly installment payment on the loan(s) due to financial difficulty.)
• Granted in one-month increments to either bring your account current or delay your next
payment.
Section 3: Additional Information
Comaker Information
If there is a comaker on the loan(s) for which you are requesting forbearance, the comaker must apply for
and be eligible for the same or different forbearance type during the same period of time in order for you
to obtain forbearance. If the comaker is applying for the same forbearance type, one form may be used
as long as both signatures are present. If the comaker is applying for a different forbearance type, two
forms are required.
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Revised June 2014
Auto-Debit Borrowers
If you are currently using auto-debit and will not have the funds available for your next scheduled debit,
call Iowa Student Loan at least five business days prior to your due date to have the next scheduled debit
suspended. This should allow you time to submit your forbearance request. However, keep in mind that
you are responsible for all of your monthly installments until your request for forbearance is approved.
Explanation of Interest Capitalization
Capitalization of interest is the addition of outstanding accrued interest to the current principal balance of
the loan(s). Capitalization of interest results in a higher principal balance and additional finance charges
over the course of repayment and may cause your minimum monthly payment amount to increase. Iowa
Student Loan will automatically capitalize outstanding interest at the expiration of a forbearance period.
However, while your account is in forbearance, you will receive notice of the amount of interest that has
accrued on your loan(s). This notice will give you the opportunity to satisfy outstanding interest before
capitalization.
Section 4: Forbearance Agreement
Acknowledge your agreement to the following statements by signing below.
Although my situation at the present time is preventing me from making regularly scheduled
payments, I intend and agree to repay my loan(s) according to the terms and conditions of my
promissory note(s). Unless specified in Section 2, my forbearance may be granted for a period not to
exceed 12 months. At the end of the forbearance, I may reapply for the forbearance if I meet the
required conditions. During the forbearance period, I am responsible for the accrued interest on my
loan(s). Any unpaid interest will be capitalized (added to the principal balance) when the forbearance
ends. Payments will resume within 45 days of the forbearance end date. The exact amount of the
monthly payments will be calculated in accordance with all applicable laws governing student loans.
I understand that if I qualify for this forbearance, any period of delinquency prior to the requested
forbearance on my federal loan(s) will be covered with an administrative forbearance; however, any
negative reports that were submitted to the consumer reporting agencies will not be removed. I
understand that should the situation under which I applied for this forbearance change, I must notify
Iowa Student Loan.
I authorize the school, the lender, the guarantor, the U.S. Department of Education and their
respective agents and contractors to contact me regarding my loan(s), including repayment of my
loan(s), at the current or any future number that I provide for my cellular phone or other wireless
device using automated phone dialing equipment or artificial or prerecorded voice or text messages.
I intend to repay my loan(s); however, I am unable to make the minimum monthly installment
payment on my loan(s) due to financial difficulty.
The information provided is true and correct to the best of my knowledge.
Borrower’s Signature:
Date:
Comaker’s Signature:
(If applicable. See Section 3.)
Date:
Return completed form to:
Iowa Student Loan
P.O. Box 659705
West Des Moines, IA 50265-0970
Phone: (800) 243-7552
Fax: (515) 223-9535
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Revised June 2014