Generally, people with federal student loans have more options for relief when they are struggling to keep up with debt payments, and those who have private student loans are starting to have more choices, too.

Over the past couple of years, private lenders have introduced more flexible repayment plans for people facing financial hardship.

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Borrowers may now qualify for reduced monthly payments, lower interest rates and other modifications on their private student loans if they are worried about falling behind on payments. The changes can help borrowers avoid default and can help them catch up on missed payments.

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The options will vary from one company to the next, so the best way to learn more about your options is to talk to your lender.

For instance, Discover will allow some borrowers to pay only the interest on their loans for several months. Other borrowers can qualify to have their interest rate reduced temporarily, possibly leading to smaller monthly payments.

Wells Fargo also offers loan modification programs that can reduce monthly payments. The bank may reduce interest rates to as low as 1 percent for some borrowers facing financial difficulties. If borrowers are still struggling to afford payments with the lower interest rate, they may qualify for an extended repayment period, which could further reduce the monthly payment.

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You don’t need to be in default to take advantage of some of the loan modifications. The lenders say they want to hear from people facing a hardship — such as a job loss, sudden medical costs and other challenges — even before they start to fall behind on payments. And some of the payment options are only available for people who mostly have been on time with their payments.

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“The key here is to communicate with the lender,” says Betsy Mayotte, director of consumer outreach for the American Student Assistance, a nonprofit organization that offers guidance to families paying for college. Even if you’re in collections, she added.

Borrowers can also look into consolidating their private student loans, which can extend the payment period and lower the interest rate permanently, Mayotte says. But people who have fallen behind on their payments may struggle to qualify.

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The bottom line, regardless of whether you have private or federal loans, is to ask about your options — even if you have already fallen behind.

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