Forbearance Cost Calculator
As you think about whether to request a forbearance, consider the general costs associated with postponing repayment. This cost calculator can help you determine the amount of interest that will accrue during a forbearance period. It also provides an estimate of the increased monthly payment you may have after the forbearance ends, should you allow interest during the forbearance period to accrue and be capitalized.
To make the best use of this calculator, refer to the monthly statement you receive from your loan holders to find the current loan balances. You can also log in to the National Student Loan Data System (NSLDS) with your FSA ID to obtain information about your loans, including loan amounts borrowed.
Determining the cost of forbearing your loan(s)
When weighing the option of forbearance, think about whether your difficulty in making payments may be short-term or is likely to persist over a longer period. If you expect repayment difficulties to persist, we suggest contacting your loan holder to discuss deferment options and alternative repayment plans, as forbearance may not be the best option to manage a longer-term financial hardship.