Deferment is a period during which repayment of the principal and interest of your loan is temporarily delayed. During a deferment, you do not need to make payments. What’s more, depending on the type of loan you have, the federal government may pay the interest on your loan during a period of deferment.
The government may pay the interest on your:
The government does not pay the interest on your unsubsidized loans (or on any PLUS loans). You are responsible for paying the interest that accrues (accumulates) during the deferment period, but your payment is not due during the deferment period. If you don’t pay the interest on your loan during deferment, it may be capitalized (added to your principal balance), and the amount you pay in the future will be higher.
The following table provides situations that may make you eligible for a deferment of your federal student loan.
Situations When You May Apply for Deferment |
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|---|---|---|---|
Loan Servicer |
Direct Loans |
FFEL Program Loans |
Perkins Loans |
| During a period of at least half-time enrollment in college or career school | |||
| During a period of study in an approved graduate fellowship program or in an approved rehabilitation training program for the disabled | |||
| During a period of unemployment or inability to find full-time employment (for up to 3 years) | |||
| During a period of economic hardship (includes Peace Corps service) (for up to 3 years) | |||
| During a period of service qualifying for Perkins Loan discharge/cancellationdischarge / cancellation | |||
| During a period of active duty military service during a war, military operation, or national emergency | |||
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During the 13 months following the conclusion of qualifying active duty military service, or until you return to enrollment on at least a half-time basis, whichever is earlier, if
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Most deferments are not automatic, and you will likely need to submit a request to your loan servicer, the organization that handles your loan account. If you are enrolled in school at least half-time and you would like to request an in-school deferment, you’ll need to contact your school’s financial aid office as well as your loan servicer.
Your deferment request should be submitted to the organization to which you make your loan payments.
Direct Loans and FFEL Program loans: contact your loan servicer
Perkins Loans: contact the school you were attending when you received the loan
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