Apply for a deferment

What’s a deferment?

A deferment is a postponement of repayment under certain specific circumstances. The types of deferment, the conditions under which it’s granted, and the time limits vary significantly among loan programs.

If the terms and conditions of the loan include deferment options, you are entitled to receive them, but they are almost never granted automatically. You must request a deferment through one of the formal procedures that the loan servicer has. Often you need to complete a deferment form and provide accompanying documentation to support the type of deferment you’re requesting.

While deferments vary across loan programs some of the specific circumstances that can qualify a borrower for deferment include:

• being enrolled at least half-time at a college or university
• being a Peace Corps or Vista volunteer
• serving in the U.S. armed forces
• economic hardship
• actively seeking but unable to find full-time employment
• temporarily totally disabled

The length of the deferment varies according to the condition under which it is granted.

Important things to remember

• If you’re in default on your loan, you are not eligible for deferment.
• Deferments vary among loan programs.
• Under most circumstances, you must request deferment by completing a form and providing certification.
• You must file deferment forms separately for each loan holder.
• Deferment forms must be filed on time or you’ll be charged late fees.
• You must continue to make payments on the loan until you’re notified that the deferment was approved.
• Deferment provisions are subject to change, so keep in touch with your loan servicer(s).