Find out if you are eligible for student loan forgiveness. Depending upon the type of student loan that you borrowed you may be able to have your student loans forgiven, which means that your debt is completely cancelled. This option is reserved for people with certain occupations such as teachers, but it never hurts to contact your lender and see if it applies to you.
Ask for a forbearance to be applied to your loan. Most lenders offer a certain amount of forbearance months to help you get caught up on your loan. The forbearance will postpone your payments and give you the time that you need to improve your financial situation.
File for an economic hardship deferment. This is accomplished by providing proof of your income to your lender and showing an inability to pay. You may have to fax or mail in multiple documents, but this can defer your payments for a number of months until you get back on your feet.
Switch to a graduated repayment plan. These plans are designed to spread your payments out over a longer period of time making them much smaller. The negative side to this is that you'll end up paying more money in interest, but if you need a much smaller payment this can be a very effective option.
Refinance for a lower interest rate. By refinancing and acquiring a lower interest rate you should end up with a lower monthly payment, making your loan more affordable and easier to pay. The benefit to this is that with a lower interest rate you will have a lower payment without a longer term. However, if you are already behind in payments this might not be an available option, and you'll need to consider a deferment or forbearance.