Options For Student Loan Deferment

As a student you will have found that your college education was expensive.  In fact it was so expensive that you are now finding yourself in a heap of debt from student loans.  Many students find that once they graduate they are now looking for a job or have had to accept a job that does not pay exactly what they were expecting that the payments for the student loans are going to be hard to make every month.  Of course there are also times where situations start after you have begun making payments.  This can make it difficult to make the necessary payments therefore it is always a good idea to opt for a student loan that allows for deferment after you have begun to make payments.

Types Of Deferments For Student Loans

If you have a Stafford loan or a Perkins loan through the government you will find that there are probably already deferment programs built into the unsecured personal loans itself.  To find more information on these deferment options you will need to contact the student services telephone number listed for your loan.  However if you have a different type of loan there are several basic types of student loan deferment programs.  These loans can be in the category of federal loans, supplementary loans as well as student loans that have been consolidated.

Education Deferment

If you are interested in an education deferment this will depend on what you student status is currently.  You will be required to be enrolled in a college education program full time or at least half of the time to qualify for the deferment option.  If you are not enrolled at least half of the time the deferment option will not be available to you. With this option the school will need to send a letter to your lender confirming that you are enrolled in school and how many credit hours you are currently enrolled as.

Economic Deferment

If you are seeking an economic deferment it is because you are facing an economic hardship or you are currently unemployed.  When you apply for this type of deferment you will be required to show proof of your annual income.  If this income amount falls below the guidelines that are set by the Bureau of Labor Statistics you will more than likely qualify for the deferment of your student loan.

Disability Deferment

If you are a student who has had an injury or an illness that has prevented you from being able to work and earn an income you might qualify for the disability deferment program.  This program will also defer payment if you are going through a rehabilitation program for drug or alcohol abuse or mental health training.  The program will need to be approved by the lender and the disability or illness will have had to happen after the student loan was obtained.


If you are a student who is having trouble making the necessary payments on your student loans you might be eligible for a student loan payment deferment program.  You will need to contact your lender and discuss your options.  There will also be forms that will need to be completed.  There are many different types of deferment programs available.  Your lender will be able to guide you through the process.

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