During the repayment period of your student loan, your financial situation may change. In these instances, the federal government allows you to request a deferment on your student loan payments. This allows you to defer your payments for a set period of time. In addition, interest does not accrue during the deferment period. An exception to this is the unsubsidized Stafford Loan. There are several circumstances that qualify for deferment. Two common reasons to submit a deferment request include enrolling in a qualified higher education program on at least a part-time basis and economic hardship.
|Jennifer Mathes, Ph.D.|