Federal Student Loan Deferment

Your deferment options may vary, depending on what kind of loans you have.

Stafford and Perkins loans:
Principal and interest payments may be deferred while the borrower is:

•Attending school at least halftime.
•Unemployed (up to three years).
•Studying in an approved graduate fellowship or rehabilitation program for the disabled.
•Experiencing economic hardship (up to three years).

Non-Student Loan Debt? Get a Free Debt Consultation!

Parent Loan for Undergraduate Students (PLUS)
PLUS deferment options are based on the parent borrower's eligibility – for example, if the parent is unemployed, not the student on whose behalf the parent took out the loan. Federal student loan deferment may take place for principal and interest payments while the parent borrower is:

•Attending school at least halftime.
•Unemployed (up to three years).
•Studying in an approved graduate fellowship or rehabilitation program for the disabled.
•Experiencing economic hardship (up to three years).
Note: If you do not qualify for a deferment for your Federal student loans, you can forbear your loans for up to three years instead. Forbearance is another way to temporarily postpone or reduce payments for a set period of time. You should contact your loan servicer for more information about forbearing your Stafford, Perkins, or Parent Plus loan.

Alternative Loan:
Deferment options for private student loans can vary by lender. If you are currently making payments on an alternative or private student loan, and you want to inquire about deferring those payments you should contact your loan servicer to see what options you have.

Interest Rates and Federal Student Loan Deferment
In addition, federal student loan deferment does NOT lock interest rates. Even though loans are deferred, they can still have variable rates unless a loan is being deferred that was also consolidated (which has a fixed interest rate). Stafford loans borrowed prior to July 1, 2006 have variable interest rates, while Stafford loans borrowed after July 1, 2006 have fixed interest rates. If Stafford loans have been consolidated then the interest rate will remain fixed. Deferment has no effect on the interest rate of a loan.