Emergency Forbearance Program
The Emergency Forbearance Program is limited to current Direct and Trust Fund Loan clients of the Authority. The program can only be activated when the State or Federal government declares an emergency for all or part of the State of Montana. The Program will close upon end of the emergency declaration unless extended by Authority Board action.
Please read through the general forbearance guidelines below. To apply for the Emergency Forbearance Program Application click here.
General Forbearance Guidelines
- Eligible Clients:
- Current Direct Loan and Trust Fund Loan clients.
- Forbearance Structure:
- Interest and principal payments are deferred for 3 months with unpaid principal and interest accruing to the final loan payment.
- Deferral can be extended in 3 month blocks with approvals available until the emergency declaration is lifted.
- Program Fees and Expenses:
- The Borrower is responsible for all associated forbearance expenses.
- The Authority will not impose a fee for forbearance.