Home Financial Aid Tips To Defer, or not to Defer?

To Defer, or not to Defer?


Going back to school to work on your education is an exciting time. However, it does take some planning around your finances so that you’re not caught high and dry with loans. You do have options to make your life easier though!

Can making a payment on student loans ever be postponed?

Yes, under some conditions you may receive a deferment or forbearance that allows you to temporarily stop or lower your payments.

For example, you may qualify for a deferment if:

  • You return to school at least half-time at a school that’s eligible to participate in the Federal student Aid programs.
  • You are studying full-time in a graduate fellowship program.
  • You are in an approved full-time disability rehabilitation program.
  • You are unemployed or meet our rules for economic hardship (limited to 3 years).

You may also qualify for a deferment based on active duty service in the U.S. Armed Forces or National Guard. Refer to the Master Promissory Note for your loan, or contact your loan servicer for more information about specific qualifications for deferment based on military service, and for other available deferments.

If you don’t qualify for a deferment but are temporarily unable to make loan payments for such reasons as illness or financial hardship, the Direct Loan Program may grant you a forbearance.

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By Alisa Berry
Online Learning Tips Staff