Deferment
Deferment is one of your most important rights. It allows you to postpone loan payments for a specified period of time—such as while you continue your education or are unemployed. During deferment, you will not be charged interest on your federally subsidized loans. Interest will continue to accrue on unsubsidized loans, but you will not be required to make any payments during deferment periods.
Types of deferment
- In school (no time limit)
- Unemployment (up to 36 months)
- Economic hardship (up to 36 months)
- Graduate fellowship (no time limit)
- Rehabilitation training (no time limit)
You must request deferment from your lender and may need to provide supporting documentation. Eligible loans include Federal Stafford, Federal PLUS and Federal Consolidation loans.
Financial Aid Advisor
» The Inside Scoop for High School Students
» Types of Financial Aid: Know Your Options
» The Financial Aid Process
» Your First Step: Completing the FAFSA
» What you Really Need to Know about Financial Aid
» Important Dates: Your Financial Aid Calendar
» Student Loans
» Student Loan Repayment