What is Forbearance in Student Loans? - Definition

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

For how many months is a forbearance request typically granted?

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1. Bob is in his dental residency. He can apply for which type of forbearance request? He knows that the lender must approve his request, but he is unsure what it is called.

2. Janet has a student loan payment coming up, but would rather not pay it, as she just bought a new Mustang Cobra GT. She calls her lender, and the representative tells her that since she doesn't qualify for a mandatory forbearance, she should submit a request for which type of forbearance?

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About This Quiz & Worksheet

Use this quiz/worksheet combo to help you test your understanding of student loan forbearance. Some of the topics you'll be quizzed on include a description of forbearance as well as the period of time a forbearance is typically granted.

Quiz & Worksheet Goals

In these assessments you'll be tested on:

  • Length in months a forbearance request is typically granted
  • Differentiating between discretionary and mandatory forbearance
  • Definition of forbearance
  • Step to take if a borrower foresees financial difficulty ahead

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on student loan forbearance
  • Distinguishing differences - compare and contrast topics from the lesson, such as discretionary and mandatory forbearance
  • Information recall - access the knowledge you've gained regarding the length of time a forbearance is typically granted
  • Knowledge application - use your knowledge to answer questions about student loan forbearance

Additional Learning

To learn more about student aid, review the accompanying lesson on What is Forbearance in Student Loans? This lesson covers the following objectives:

  • Define the term 'forbearance'
  • Differentiate between mandatory and discretionary forbearance
  • Know the period of time forbearances are typical granted
  • Understand the options borrowers have when repaying student loans
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