How to Determine if Consolidated Student Loans Can Be Deferred

Few people can pay for their education without obtaining student loans. While students usually need loans to help pay for a college education, eventually they need to pay these loans back. If unable to pay at this time, students can determine if their consolidated student loans can be deferred. Review the categories below to see if your situation meets the criteria for at least one of these deferments.

Instructions

Difficulty: Moderate

1. Fill out an In School Deferment Request form and submit it to your lender if you attend an eligible school as a full-time student or attend as at least a half-time student if you do not owe on certain prior FFEL Program loans.
2. Apply for an Economic Hardship Deferment when you receive funds from government public assistance, if in the Peace Corp or if your federal education loans total more than a certain portion of your income.
3. Request Unemployment Deferment if unemployed, you work less than 30 hours a week and seek full-time work or if you're eligible for unemployment benefits.
4. Submit a Temporary Total Disability Deferment Request when you, a spouse or a dependent that you take care of become totally disabled.
5. Present an Education Related Deferment Request if you teach in certain teacher shortage areas, study full-time in a Graduate Fellowship program, participate full-time in a Rehabilitation Training program or participate in certain Internship/Residency programs.
6. Ask for a deferment with the Parental Leave/Working Mother Deferment Request when pregnant or to fulfill other parenting obligations that meet certain criteria.
7. Give the Plus Borrower With Dependent Student Deferment Request if you have a dependent student who attends an eligible school full time or who participates in a full-time rehabilitation program.

Tips & Warnings

• Borrowers need to repay all deferred student loans eventually. Once you determine if your consolidated student loans can be deferred you can still make even small payments to help reduce the principal and interest owed.