Definition
Forbearance is an agreement to temporarily reduce or suspend loan payments.
Why It Matters
It provides short-term financial relief to borrowers.
Example
Pausing student loan payments during hardship.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
Forbearance is an agreement to temporarily reduce or suspend loan payments.
It provides short-term financial relief to borrowers.
Pausing student loan payments during hardship.