A deferment is a period in which repayment of the principal balance is postponed.
During a deferment, if your student loan is subsidized, the government pays the
interest charged.
There a number of student loan deferment options, based on specific circumstances. You must re-apply every six (6) months for deferments, using a valid deferment form.
Download these free deferment forms as needed, available in both English and Spanish (Please note that the White House Office of Management and Budget [OMB] has authorized the continued use of all Spanish-language deferment forms beyond their September 30, 2005 expiration date. Please be assured that these forms are still valid, and we will provide updated Spanish-language deferment forms as soon as they come available.):
You must receive federal or state public assistance or earn less than a
federal minimum wage or exceed a federally defined debt-to-income
ratio to receive this deferment.
You must be in a graduate
fellowship; receiving rehabilitation training; in an internship or
residency program; or teaching in a designated Teacher Shortage
Area.
If you are on active military duty, or are performing qualifying National Guard duty during a war or other military operation or national emergency, you may be able to defer repayment of federal loans for up to three years.
A deferment for those who are pregnant or caring for a newborn or newly adopted child;
must not be working full-time or attending school; must have been
enrolled in school at least half-time during the six months
preceding the requested deferment period; and must meet other
conditions.
A deferment for borrowers whose
dependent student for whom they borrowed a Federal PLUS loan is
attending school on at least a half-time basis, or is in a full-time
rehabilitation program.
You
must be unable to work and earn money or go to school for at least
60 days in order to recover from an illness or injury or care for a
spouse or dependent with an illness or injury. The condition cannot
have existed before you applied for the loan(s).
You
must be seeking but unable to find full-time employment (more than
30 hours per week) that is expected to last at least 3 months.
Please note that you need Adobe Acrobat Reader to view and download any of these deferment form files.
If you do not have Adobe Acrobat Reader, please click on the Adobe button.
Private Student Loans