F
F
ORBEARANCE
ORM
SC-FOBF-PS - 10/04
Federal Family Education Loan Program Federal
Stafford/SLS/PLUS/Consolidation Loans
SECTION 1: BORROWER INFORMATION
Name ________________________________________________ Account Number __________________________________
(with area code)
Address _____________________________________________ Telephone - Home
_______________________________
(with area code)
City / State / Zip _______________________________________ Telephone - Work
_______________________________
(with area code)
E-Mail Address _______________________________________ Telephone - Alternate _______________________________
SECTION 2: FORBEARANCE TYPES (Self-Certifying)
Check the forbearance type(s) for which you wish to apply. Please review the reverse side of this form for an explanation of each forbearance type.
-
Economic Hardship*
My student loan payments are greater than or equal to 20% of my monthly gross income.
Attach documentation of monthly payments due on any Federal student loan(s) not serviced by AES.
Attach proof of your most recent monthly gross income with the pay period clearly labeled.
If you cannot provide proof of income, check the box below that applies to your situation:
I Receive No Income
I Am Self Employed (See reverse side of form for additional requirements)
I wish to be considered for a Temporary Hardship Forbearance if I do not qualify for Economic Hardship.
-
Temporary Hardship*
I intend to repay my loan(s); however, I am unable to make the monthly installment payment on my loan(s) due to:
Financial Difficulty
My dependent student for whom I received a PLUS loan is in school at least H/T, which is causing financial difficulty
In-School -
I intend to repay my loan(s); however, I am unable to make the monthly installment payment on my loan(s) since I am currently attending
school but do not qualify for an in-school deferment.
Name of School: _________________________________________ Dates of Attendance: (MM/YY) _____________ to _____________.
* The forbearance will be granted for up to 12 months unless a shorter period is specified. I request my forbearance to end on: (MM/YY) ______________.
SECTION 3: FORBEARANCE TYPES (Certification Required)
Borrowers / Co-Makers:
Check the forbearance type(s) for which you wish to apply. Please review the reverse side of this form for an explanation of each forbearance type.
National and Community Service
Department of Defense Loan Repayment Program
Internship/Residency
Authorized Certifying Official:
I certify that the borrower is eligible for the forbearance selected above and meets all of the requirements provided on the reverse side of this form for the
period: (MM/DD/YY) ___________________ to ___________________.
____________________________________
_________________
________________________________
____________
___________________
Name of Organization
Official's Signature and Title
Date
Phone Number
SECTION 4: FORBEARANCE AGREEMENT
Although my situation at the present time is preventing me from making regularly scheduled payments, I intend to repay my loan(s). During the forbearance period, I am
responsible for the accrued interest on my loan(s). Any unpaid interest will be added to the principal balance of the loan(s) when the forbearance ends. Payments will resume
within sixty (60) 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 should my situation under which I applied for this forbearance change, I must notify AES. I wish to have the forbearance for which I applied placed on all
loans that fall under the guidelines for federally insured loans. I understand the forbearance I have requested will not be granted for more than 12 months at one time.
I
understand that if I qualify for one of the above forbearances, I authorize AES to extend and/or backdate a Temporary Hardship Forbearance (not to exceed 12 months) to ensure
any past due amount on my loan(s) will be covered. I understand that if an end date is not provided, the forbearance will be granted for a period not to exceed 12 months. For
an account that is delinquent, the forbearance can be applied retroactively to cover the period of delinquency; however, any negative reports that were submitted to the credit
bureaus will not be removed.
The above information is true and correct to the best of my knowledge.
X _______________________________________
X _________________________________________
_______________
Borrower’s Signature
Co-Maker’s Signature
Date
(If applicable -See information on the reverse side)
Return Completed Form To:
AES
P.O. Box 2461
Harrisburg, PA 17105-2461
Fax: 717-720-3916 or 717-720-3931