 TITLE: Only Half of All Student Loans Are Currently In Repayment CONTENT: Alternatives to Payment Can Be Helpful, but Should Be Avoided\n-------------------------------------------------------------\nWhile alternatives to student loan repayment can be helpful in dire situations, it's best in the long term if borrowers can find a way to pay their loans without taking any time off. Particularly with defaulting or putting loans in forbearance, the consequences can be costly.\nDuring forbearance, borrowers can rack up thousands of dollars in interest while not paying anything toward the loan principal. For some loans, deferment can also mean racking up interest.\nThe approval processes for these two payment alternatives differ, and depending on the type of deferment or forbearance, so do the applications and documentation. Borrowers interested in learning more about deferment and forbearance can visit the DOE's Federal Student Aid website. To get more information about applying for either payment alternative, they can contact their loan servicer.\nWhen it comes to default, missing payments and owing creditors should be an absolute last option. Missed payments are reported to credit bureaus and can have a serious impact on credit scores. Borrowers who are in default or have missed payments in the past should get a free copy of their credit reports and credit scores from Experian to see how the delinquency has affected their scores. END