f you are unable to make your monthly payments, you should contact your creditors. Your student loan can be put on deferral if you are unemployed, and you should do this as soon as you lose your job

Take a look at what you should do when your unemployment benefits run out

If you have been unemployed for quite a time and your unemployment benefits tun out, don't panic! In this article, you will be able to find alternatives. Keep reading and discover them all. 

If you have been unemployed for quite a time and your unemployment benefits tun out, don't panic! In this article, you will be able to find alternatives. Keep reading and discover them all. 

Unemployment benefits are intended as a temporary measure to help you financially when you are between jobs. Generally, unemployment benefits last 26 weeks, but that might vary depending on your state.

First, check with your state unemployment office to ensure that you are receiving all the benefits you qualify for. During a recession, the federal government may provide funds allowing the states to expand unemployment benefits.

check with your state unemployment office to ensure that you are receiving all the benefits you qualify for.

Secondly, due to the high unemployment rate, an additional 13-20 weeks of federal Extended Benefits (EB) are currently available in most states due to the high unemployment rate.

Also, if you are close to losing your unemployment benefits, you need to create an action plan to fall back on. The best time to trim expenses and find resources is while you still qualify for unemployment. Make a plan now, and you can save yourself additional stress later.

What is more, as soon as you lose your job, it's wise to create a new, barebones budget, which should cut out all non-essential spending. Cancel unnecessary services such as cable or a gym membership, scale back on your grocery bill, and cut entertainment expenses like eating out.

it's wise to create a new, barebones budget

Finally, if you are unable to make your monthly payments, you should contact your creditors. Your student loan can be put on deferral if you are unemployed, and you should do this as soon as you lose your job.

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