DARIEN, Conn.–(BUSINESS WIRE)–DRB (Darien Rowayton Bank), a leading FDIC insured marketplace lender and provider of low-rate student loan refinancings to working professionals with graduate or undergraduate degrees and parents of degree holders, today announced it has expanded its offerings to include loan forbearance and deferment options to borrowers experiencing financial hardships as well as forgiveness in the event of death or disability.
“As we continue to meet the needs of our borrowers, we understand that life comes with unexpected challenges, including the sudden loss of income, physical or mental impairment and other financial and emotional hardships,” said Gary Lieberman, Chairman of the Board at Darien Rowayton Bank. “DRB’s new offerings will help provide our borrowers with financial protection and flexibility when facing challenging circumstances.”
Qualified borrowers that encounter short-term financial hardship may be offered forbearance in three month intervals for a total period that does not exceed 12 months. In the case of death and disability, loans are forgiven upon the death of the borrower or if the borrower becomes disabled.
The new loan forbearance and deferment options illustrate DRB’s continued commitment to provide its borrowers with superior benefits. Since June 2013, DRB has helped thousands of professionals with graduate degrees across the country to refinance and consolidate hundreds of millions in Federal and private loans. Recently, DRB expanded its program to working professionals who obtained bachelor’s degrees and also announced rates to as low as 1.92 percent for its student loan refinancing products. To learn more about DRB’s student loan refinancing programs and how they can save you or your children money, please visit student.drbank.com.