Find student loans and student loan consolidation options.

No Payments for Your First 12 Months!

The year after college graduation can be a trying time financially. That’s exactly why we created the 12 Month No Payment Option. Now, when you consolidate student loans with ScholarPoint, you have the option of placing your student loans immediately into forbearance while you get settled financially. It’s just one more of the many benefits that ScholarPoint offers its customers.

How the 12 Month No Payment Option Works

Our program allows you to immediately place your new federal student consolidation loan in forbearance status for certain reasons such as unemployment or financial hardship. As an added benefit to you, we’ve extended the initial forbearance to include your first 12 months of payments. If you are in your 6 month grace period, this can extend your total deferment period for up to 18 months. This option allows you to use 12 out of your 48 months of forbearance to temporarily postpone your payments. After this forbearance period, you will still be eligible for 36 months of forbearance due to financial hardship and any other eligible forbearance reason.

Interest charges during forbearance are added to the principal balance of a loan which will increase the balance due. This is called capitalization, and it increases the amount of the monthly payments and the total amount repaid over the life of the loan. You can choose to make interest-only payments during the forbearance period if you do not want interest to capitalize the loan.

Benefits of the 12 Month No Payment Option

No initial loan payments for a full 12 months
Does not affect your Grace Period benefits
Does not negatively impact your credit
Won’t increase your repayment term
Cancel at any time or choose to make interest-only payments
Eligible for 36 more months of forbearance at a later date if needed

Get Started Now

Simply fill out our fast, simple, online application to receive all of the many benefits of student loan consolidation. After your application is processed, you will be provided a simple enrollment form for the 12 Month No Payment Option. Once we receive your request, we will process right away!