|
Student Loan Deferment and Federal Student Loan
Forebearance
A Student Loan Deferment will be granted under the following circumstances if you are:
- Enrolled at least half time at an eligible school
- Engaged in a full-time course of study in a graduate fellowship program
- Engaged in a full-time rehabilitation training program for individuals with disabilities (if the
program is approved by the Department of Education)
- Conscientiously seeking, but unable to find, full-time employment (up to three years), or
- Experiencing an economic hardship as determined by Federal law, including service as a Peace Corps volunteer (for up to three years)
- Reside or went to school in Florida or Tennessee
If your student loan deferment is under one of the categories listed above, you may reapply with your new loan servicer, who will evaluate your eligibility based on your circumstances after consolidation.
Student Loan Forbearance - will be granted under the following circumstances if you:
- Are serving in a medical or dental internship or residency program, if you meet certain criteria
- Are serving in a national service position for which you receive a national service education award under the National and Community Service Trust Act of 1993
- Qualify for partial repayment of your loans under the Student Loan Repayment Program, as administered by the Department of Defense
- Have a monthly debt burden for Title IV loans that collectively equals or exceeds 20% of your total monthly gross income
- Reside or have gone to school in Floirda or Tennessee
The borrower remains liable for the interest that accrues while the student loan forebearance is active.
If your loans are no longer deferred or in forebearance,
Apply Now and consolidate your student loans!
|