Postponing payments
Understanding deferment
Deferment lets you temporarily suspend making loan payments. You may be granted deferment on your loan for a variety of reasons.
Deferment can be authorized for
- economic hardship,
- unemployment,
- military deployment,
- enrollment in school,
- internship,
- national service, and
- similar situations.
You are responsible for paying your education debt even when granted deferment. Deferment is temporary and limited to specified time frames.
If you've already had one deferment, you may be eligible for the same type again. In other cases, you may have exceeded the time limit on a particular deferment and may no longer be eligible to apply for that same type.
Eligible loans
- Stafford loans
- Parent PLUS loans
- Graduate PLUS loans
- Federal consolidation loans
For subsidized Stafford loans, the federal government pays the interest during deferment. For unsubsidized loans (including unsubsidized Stafford, Graduate PLUS, and Parent PLUS), the interest accrues and is capitalized, and you are responsible for paying it.
Most private loan deferment eligibility is based on loan type.
Log in to Manage Your LoansSM and select Postpone Payments to see if you're eligible and to apply for deferment.
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