What is student loan forbearance and is it right for you?

The video tutorial explains student loan forbearance, a temporary relief allowing borrowers to pause payments. It covers the end of the student loan payment freeze in October and introduces two types of forbearance: general and mandatory. General forbearance is discretionary, while mandatory forbearance must be granted if eligibility criteria are met. The video highlights the downside of forbearance, such as accruing interest and its impact on loan forgiveness programs. It concludes by advising viewers to consider forbearance as a short-term solution and explore other repayment options for long-term financial planning.

What are the two types of forbearance that borrowers can request?

What are some reasons a borrower might request general forbearance?

What is the main difference between general forbearance and mandatory forbearance?

How does forbearance affect the Public Service Loan Forgiveness Program?

In what situations might forbearance be considered a good option?