<prompt> Human: So last night I was told by my parents that due to financial situations I have to pay my student loans. Im not mad or annoyed just very stressed now. My first payment is due 720 for a total of more than 12 my current monthly salary.I put in for forbearance and a deferment. Is there anything else I can do? Thank youJKThank you everyone!I got a forbearance because the payment was due too soon. Im processing the paperwork for a deferment except I still pay the interest, consolidation and pay as you earn. As to what I will be making in September, I honestly dont know the exact figure but it will be significantly more than Im earning now. My boss already wrote out a letter for my income certification based on what Ive earned over the past 6-7 months. Ill keep you guys updated if I end up going under.Thanks againEdit: typoEdit 2: follow upEdit 3: addition to follow up  <response>: If your loans are federal loans, this could be a great option for you.There is a payment program called PAYE Pay as you earn that you can use to pay back your loans during time of financial hardship. They calculate your minimum monthly payment based on a formula that takes into account your discretionary income for a family of your size. Basically, if you are single and making 18,000year, the formula subtracts out the poverty line 11,670 for a single family from your income. 18,000-11,670 6,330 They then take your discretionary income which is 6,330 and take 10 of that to figure out your annual repayment amount. 10 of 6,330 633 63312 52.75 in monthly loan repayments as long as your income is 18,000.Once you qualify for this program, you are locked in even as your income increases and the formula will never make you pay more than the standard 10 year loan repayment. In the future if you decide to opt out of the program and start standard repayment over a time period that are comfortable with, you can do that, but the program can never drop you.I think this is a good option while you are still getting your bearings. Another perk is that you can do this for 3 years without getting slammed with interest. According to this If a monthly payment in this plan doesnt cover the loans interest while you are still under a financial hardship, the federal government will pay the unpaid accrued interest on a subsidized Stafford Loan for up to three years from the time Pay As You Earn is implemented.In addition to this, there are certain circumstances that allow you to receive federal loan forgiveness on any remaining loan balance after a certain amount of time repaying. 10 years if working for non profit, 20-25 years in other cases, which isnt worth it in my opinionAlthough Ive a highlighted some positives of this plan, if you stay in this type of repayment plan when not appropriate, you will eventually hurt yourself by paying more interest. So, do your own research by starting here and if you think this makes sense for you, then sign up for the plan here. 