Tuition Options understands that circumstances may arise which make it difficult to make monthly payments. Repayment options may be available to assist borrowers during times of financial hardship.
What is a Loan Modification?
Under the Loan Modification Program, an agreement can be made between you, your lender/school and Tuition Options to adjust your original private education loan terms. An extension of term, fixed step payment (where payment amounts may change over time) or forbearance period (a temporary period where no payment will be due though interest may still accrue) may be an option for you. The proposed new terms are subject to approval by the lender/school and a secure e-signature from the borrower/co-borrower may be required.*
- Your monthly payment amount increased and you are having difficulty paying
- You are experiencing a verified financial hardship
- You are behind on your payment(s) or may fall behind soon and are unable to make the required monthly payment
How can I learn more?
If you are experiencing difficulty making your monthly payments, contact a Customer Service Representative today at 800.423.5513 to discuss loan modification options.
*All loan modification terms require lender/school approval and you may not be eligible if you are currently enrolled in school.