Forbearance is temporarily postponing your obligation to make payments on your student loan(s). As an AmeriCorps member you may be eligible for forbearance on your qualified student loans during your term of service. Forbearance is granted by the Financial Institution, not by CNCS. To have repayment of your federal qualified student loans postponed, you must first officially enroll in an AmeriCorps program, which electronically sends enrollment information to the Trust.
Requesting forbearance on your student loan is a very simple process. Just follow the steps below:
- Go to my.americorps.gov and sign in. You must already have an account to request forbearance. You can create an account if you do not already have one.
- Click “Create Forbearance Request” under the My Education Award tab on the left
- Verify that all of the pre-populated information on your request form is correct
- If you served more than one term of service, select the dates of service for which you are requesting forbearance.
- Search for and select your Financial Institution. If you cannot find your Institution, select the “not found” button. This brings up a new page where you will need to enter the Institution’s name and address, as well as any other information that you know such as a phone number or contact name.
- Once you click the “submit” button, your forbearance request will be sent to your Financial Institution for them to process.
If you have loans with more than one Financial Institution, you’ll need to submit a separate request for each lender, for each term of service.