If you do
not qualify for deferment, you may be eligible for forbearance, where your payments are suspended for up to twelve months.
If you reach a point where you no
longer qualify for deferment, but you need help managing your loans, you can apply for voluntary forbearance.
If you do
n't qualify for a deferment, forbearance also allows you to pause your student loan payments for as much as 12 months at a time.
You may
qualify for deferment if you are unemployed, are unable to find full - time employment, or are otherwise experiencing hardships.
You may
qualify for a deferment of your government obligation if you are unemployed; suffer economic hardship and many other reasons.
If you allow your student loans to enter default, you will no
longer qualify for deferment or forbearance neither will you be able to choose any repayment plan.
I have worked full time in public service for 15 years, and paid my federal student loans for over 10 years, but still do not
qualify for the deferment since my loans are Perkin Loans, and not the obscure federal loan that this program is for.
Generally, you can
not qualify for a deferment if your loan is in default; however, in some cases a retroactive deferment may be available.
You may
qualify for deferment if you are unemployed, are unable to find full - time employment, or are otherwise experiencing hardships.
If you can't make your monthly payments but don't
qualify for a deferment, you can request to suspend your payments or make reduced payments with a forbearance, usually lasting up to 12 months.
If you can't keep up with your payments, you might
qualify for deferment or forbearance.
If you can't make your loan payments but don't
qualify for deferment, then you may be able to receive forbearance.
If you can't make your scheduled loan payments, but don't
qualify for a deferment, your loan servicer may be able to grant you a forbearance.
If you're unable to make payments but don't
qualify for a deferment, the servicer can also extend you a forbearance.
The loan servicer will determine whether
you qualify for a deferment.
Why do so many student loan borrowers end up in default on their student loans when their circumstances would have allowed them to
qualify for a deferment?
You'll need to
qualify for a deferment.
If you find yourself unable to pay the minimum payment on your student loans, first check to see if
you qualify for a deferment on any Federal Stafford, Federal Grad PLUS, or Federal Consolidation Loans.
Not only do
you qualify for deferment, but you can also have portions of your loan forgiven all together.
If you can't make your minimum monthly payments, but don't
qualify for a deferment, you will likely qualify for a forbearance.
Forbearance is a way to delay repayment on your federal student loans if you don't
qualify for deferment.
If you don't
qualify for deferment, your student loan servicer may still grant you forbearance.
Similarly, the loan is no longer eligible for an in - school deferment, since both spouses must be enrolled in college for the loan to
qualify for a deferment.
If you don't
qualify for a deferment, you may be able to get a forbearance.
Students with prior outstanding student loans may
qualify for deferment and / or forbearance provisions when these students are enrolled at least half - time in law school.
Forbearances are granted at the lender's discretion, usually in cases of extreme financial hardship or other unusual circumstances when the borrower does not
qualify for a deferment.
Military service may help
you qualify for deferments of your payments or even debt forgiveness.
Forbearance is another option to delay payments on your federal loans if you don't
qualify for deferment.
A student loan forbearance is usually for individuals who do not
qualify for a deferment.
If you do not
qualify for deferment, you may be eligible for forbearance, where your payments are suspended for up to twelve months.
Similar to the military service deferment the borrower must be on active duty to
qualify for this deferment.
If your loan servicer can't get
you qualified for a deferment via the DOE, they may offer you a temporary forbearance.
According to materials posted at the U.S. Department of Education's website, students may
qualify for deferment if they: