Student loan deferment

Student loan deferment is an agreement between the student and lender that the student may reduce or postpone repayment of a student loan for a designated period.[1] Deferment or forbearance[2] will prevent the loan from going into default, but may increase the overall cost of the loan.[3] If the student is experiencing financial hardship or is unemployed, he or she may be eligible for deferment.[4] The lender may require valid proof of financial hardship and other financial information when the student applies.[5]

See also

References
  1. "Deferring payments for school or internship". SallieMae. Retrieved 28 November 2017.
  2. "Payment difficulties". SallieMae. Retrieved 28 November 2017.
  3. Lanza, Allesandra (9 July 2014). "4 Questions to Ask Before Requesting a Student Loan Forbearance". U.S. News & World Report. Retrieved 28 November 2017.
  4. "Deferment and Forbearance". Federal Student Aid. U.S. Department of Education. Retrieved 28 November 2017.
  5. Gobel, Reyna. "Student Loans: Repayment During Financial Hardship". Investopedia. Retrieved 28 November 2017.
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