University students today are facing record amounts of debt in order to pay for school. Most students today are finding themselves out of school and with no source of income to repay their student loans.Because educational costs continues to rise, while the amount of federal loans have not, private loans are becoming almost a requirement for many students. This increase in costs and decrease in federal funds means students have to take out private loans to cover everything from fees to rent. Unfortunately, many graduates eventually find themselves in default on their private loans. Although it is fairly simple to put federal student loans in forbearance, private loan forbearance is granted at the discretion of the lender. JPMorgan Chase & Co. gives private student loan products via their Chase brand. College graduates who are out of work can not get loan forbearance through Chase until they can give proof that they can resume installment payments immediately after the six-month forbearance period. It can be tough to meet these requirements when you are unemployed.