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I am on a payment plan for school but struggling to make the payments. Can I get a loan to help me with the payments?
I am on a payment plan for school but struggling to make the payments. Can I get a loan to help me with the payments?

If you are unable to make the payments on your student loan, there are a few things you can do.

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Written by Sparrow Support
Updated over 2 years ago

If you are unable to make the payments on your student loan, you should:

  1. Contact your loan servicer, explain the situation, and try to arrange an affordable payment schedule

  2. Cut expenses and increase income to generate enough money to make payments

  3. Contact your loan servicer(s) and sign up for an income-driven repayment plan

  4. Refinance your loans to lower monthly payments

  5. Seek deferment or forbearance

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