1. Your Identifying Information:
* Your Full Name: As it appears on your student loan documents.
* Your Student Loan Account Number(s): Crucial for them to identify your specific loan(s).
* Your Contact Information: Current mailing address, phone number, and email address.
2. Statement of Financial Hardship:
* Clearly State Your Request: Specify exactly what type of relief you're seeking (e.g., forbearance for 6 months, deferment, income-driven repayment plan).
* Explain Your Circumstances: This is the core of your letter. Be specific and provide details about your current financial situation. Examples include:
* Job Loss: Date of job loss, reason for job loss, efforts to find new employment.
* Reduced Income: Explain the reduction (e.g., pay cut, reduced hours), provide documentation if possible (pay stubs, employment verification).
* Unexpected Expenses: Explain significant unexpected expenses (e.g., medical bills, major home repairs, car repairs) and provide documentation if possible (medical bills, repair estimates).
* Increased Living Expenses: Explain any significant increases in housing costs, childcare costs, or other essential expenses.
* Serious Illness or Disability: Provide medical documentation if possible.
* Other Relevant Factors: Anything else impacting your ability to make loan payments (e.g., family emergency, natural disaster).
* Quantify Your Financial Situation: Include specific numbers whenever possible. For example, state your current monthly income, total monthly expenses, and the difference (if any) between your income and expenses.
* Demonstrate Effort to Improve Situation: Explain any steps you're taking to address your financial hardship, such as actively searching for a job, budgeting, or seeking financial counseling.
3. Supporting Documentation:
* Attach Supporting Documents: This is critical. Provide copies of documents to support your claims, such as:
* Pay stubs or tax returns
* Medical bills or doctor's notes
* Bank statements
* Unemployment verification
* Repair estimates
* Letters from employers or landlords
* Organize Documents Clearly: Number and label each document for easy reference.
4. Closing:
* Reiterate Your Request: Briefly restate the type of relief you're requesting.
* Express Gratitude: Thank them for their time and consideration.
* Provide Contact Information Again: Repeat your phone number and email address for easy communication.
5. Professional Tone and Formatting:
* Use Formal Language: Avoid slang or informal language.
* Proofread Carefully: Ensure your letter is free of grammatical errors and typos.
* Use a Professional Format: Use a clean and easy-to-read format. Include your name and address at the top, and the date and recipient's address as well. Send it via certified mail with return receipt requested for proof of delivery.
Important Considerations:
* Honesty is Crucial: Be truthful and accurate in your letter. Providing false information can have serious consequences.
* Timing is Important: Submit your letter well in advance of your next payment due date.
* Know Your Rights: Familiarize yourself with your rights under federal student loan programs. The Department of Education's website is a good resource.
* Consider Seeking Professional Help: If you're struggling to manage your student loans, consider seeking help from a nonprofit credit counseling agency. They can provide guidance and support.
This letter is a plea for help; present your case clearly, concisely, and persuasively with evidence. Remember to keep copies of everything you send.