Deferment is a way that you can postpone payments on a previous student loan. Different loans have different types of deferment options available. Not all loans have deferment options.
You must qualify for a deferment, the lender is not obligated to grant the deferment. You apply for a deferment by contacting the servicer of your loan.
- deferments are not automatic, you must apply and qualify on an annual basis
- subsidized loans do not accrue interest during deferment
- interest accrues for unsubsidized loans
- request deferment from servicer or download forms from servicer website
- completing forms correctly is crucial to accurate processing