After I finished law school, my loan payments were deferred for six months. I took a huge hit in the Vegas real estate market and amassed my negative fortune. For public student loans, there is an option to go into a financial hardship forbearance. This means that I don't have to make payments during that period, but I still accrue interest. It is similar to extended the deferred payment period.

You can take three financial hardship forbearances with no questions asked. So, essentially, for any reason. After that, you have to meet certain categories, such as low income, etc.

If you have private student loans, the process may require an application. However, I have not personally used that since my private loan balance is a mere $10k of the total $90k.