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This report was not chartered by or created on behalf of any lender listed below.Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life.If approved for this benefit, the lender will put the borrower's loans into forbearance, suspending their monthly loan payments.Unpaid interest will continue to accrue and will be capitalized (added) onto the borrower's principal balance.

If a borrower loses their job through no fault of their own, they may be eligible to receive unemployment benefits with some lenders.Learn more"Term" refers to the length of the loan, typically in years.In general, the shorter the term, the lower the interest rate and the higher the monthly payments.Fixed-rate loans often have higher rates than the introductory rates on variable loans.However, borrowers have peace of mind knowing their monthly payments will always be the same amount.

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