Loan Modification Options

We understand that circumstances may arise which make it difficult to make monthly payments. Repayment options may be available to assist borrowers during times of financial hardship.

What is a Loan Modification?

Under the Loan Modification Program, an agreement can be made between you, your lender and CONNECT to adjust your original private loan terms. An extension of term, fixed step payment (where payment amounts may change over time) or forbearance period (a temporary period where no payment will be due though interest may still accrue) may be an option for you. The proposed new terms are subject to approval by the lender and an e-signature from the borrower/co-borrower may be required*.

You may be eligible for a loan modification if:

• Your monthly payment amount increased and you are having difficulty paying.
• You are experiencing a verified financial hardship.
• You are behind on your payment(s) or may fall behind soon and are unable to make the required monthly payment.

How can I learn more?

If you are experiencing difficulty making your monthly payments, contact a CONNECT Customer Service Representative today at 888-370-3640 to discuss loan modification options.

 *The lender determines eligibility criteria and provides approval for a loan modification.