A deferment is a period of time during which a lender temporarily postpones regular payments. Deferments are granted for specific situations set forth by Congress and have certain time limitations and conditions for eligibility. Depending on when you received your first loan, you may be eligible for a deferment if your particular situation falls into certain categories.
Deferments are entitlements. This means lenders must grant them if borrowers qualify. Therefore, it is the borrower's responsibility to request a deferment and follow up with the necessary documentation to prove their qualification.
Review the Loans at a Glance FAQ sheet to see details regarding deferment eligibility for your loan.
Access and complete the deferment application to defer an institutional loan.