Student loan - is there any way to "settle" a student loan??

my student loan is current %26amp; up to date on being paid, but it's so much money (about $300 or more a month - it fluctuates because it's an adjustable interest rate) and i am having some money trouble right now and can't really afford it.. will they typically let me off on the payments for a few months without hitting my credit if i call them and speak with them about it??

Student loan - is there any way to "settle" a student loan??
You should definitely contact the lender if you think you will miss a payment or a few. If it's through a private lender, you probably won't get the same breaks as federal and state student loans. Sometimes they let you defer payments for a time period if you are unemployed or not making enough money to make full payments. This would not affect your credit. If you just don't make the payment(s), and don't contact the lender, then you will definitely see dings in your credit report.
Reply:If it is a Student Loan you may qualify for a Deferment or Forbearance. A Deferment is where you don't have to make any payments for a given amount of time, this amount is determined by your situation. It does not make the debt go away, it just delays when you have to pay on the loan. A Forbearance is where you pay a limited amount such as interest only, again for a given period of time. Both of these have different qualifications, but you should definitely talk to your lender and see if you do qualify for one of these programs. The worst thing you can do is just to stop paying on the loans and having it go into default.