What happens if I can't make my loan payments?

If you find yourself unable to make your loan payments, MOHELA offers various options to assist you and avoid default. Firstly, you can contact their customer service to discuss your situation and explore potential solutions. MOHELA provides flexible repayment plans that can lower your monthly payment or suspend it temporarily through options like deferment or forbearance. Additionally, you may qualify for income-driven repayment plans that adjust your payments based on your income and family size. It is crucial to reach out to MOHELA as soon as possible to discuss alternative repayment options and avoid negative consequences such as late fees, damage to credit scores, or collection procedures.