While you’re unemployed, you can put any federal student loans into deferment—that means you’ll be able to halt payments entirely until you find a new gig and the government will pick up the tab on any interest that accrues. Private student loans probably won’t be quite so generous, but you might be able to switch repayment plays so you’re paying less each month or move the loans into forbearance until you find work. “People sometimes wait until they can’t make the monthly payment to call their student loan providers, but the last thing you want to do is default on your loans,” Bera said.