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The In School Deferment Request form is a crucial tool for borrowers looking to postpone loan repayments while pursuing their education. It is primarily designed for those enrolled at least half-time at eligible educational institutions. The form collects essential borrower information, including Social Security Number, contact details, and loan specifics. Once completed, it helps determine eligibility based on enrollment status and allows for the deferment of loan payments for the duration of that status. Borrowers must also understand their rights and responsibilities, which include possible interest payments during the deferment and the impact on their loan balance. Additionally, an authorized official from the school must verify the enrollment status. The form provides clear instructions on its completion, emphasizing the importance of submitting accurate information to avoid penalties. Ultimately, this request form supports students in managing their financial obligations while focusing on their studies.

In School Deferment Request Example

IN-SCHOOL DEFERMENT REQUEST

OMB No. 1845-0011

William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family

Form Approved

Exp. Date 8/31/2021

Education Loan (FFEL) Program / Federal Perkins Loan (Perkins Loan) Program

WARNING: Any person who knowingly makes a false statement or misrepresentation on this form or on

SCH any accompanying document is subject to penalties that may include fines, imprisonment, or both, under the U.S. Criminal Code and 20 U.S.C. 1097.

SECTION 1: BORROWER INFORMATION

Please enter or correct the following information.

Check this box if any of your information has changed.

SSN

 

 

 

 

 

 

Name

 

 

 

 

 

 

 

Address

 

 

 

 

 

 

 

City

 

 

State

 

Zip Code

 

Telephone - Primary

 

 

 

 

 

 

 

Telephone - Alternate

 

 

 

 

 

 

 

Email (Optional)

 

 

 

 

 

 

 

SECTION 2: BORROWER DETERMINATION OF DEFERMENT ELIGIBILITY

Carefully read the entire form before completing it.

You are eligible for this deferment only if you are enrolled at least half time at an eligible school (see Section 6).

SECTION 3: BORROWER REQUESTS, UNDERSTANDINGS, CERTIFICATIONS, AND AUTHORIZATION

Irequest:

To defer repayment of my loans for the period during which I meet the eligibility criteria outlined in Section 2 and as certified by the authorized official in Section 4.

If checked, to make interest payments on my loans during my deferment.

If checked, to defer repayment on my PLUS Loan first disbursed on or after July 1, 2008 for the 6-month period after I graduate, withdraw, or am no longer enrolled on at least a half-time basis.

I understand that:

I am not required to make payments of loan principal or interest during my deferment.

My deferment will begin, as certified by the authorized official, on the date I became eligible for the deferment.

My deferment will end, as certified by the authorized official, on the date I no longer qualify for the deferment.

If I am a Perkins Loan borrower, I will receive a 6-month post-deferment grace period beginning on the date I no longer qualify for the deferment.

If I am a graduate or professional student borrower of a Direct or Federal PLUS Loan first disbursed on or after July 1, 2008, I will also receive a deferment on this loan during the 6-month period after I am no longer enrolled at least a half time.

If I am a parent borrower of a Direct or Federal PLUS Loan first disbursed on or after July 1, 2008, and I request it above, I will receive another deferment on this loan during the 6-month period after I am no longer enrolled at least half time.

My loan holder may grant me a forbearance while processing my form or to cover any period of delinquency that exists when I submit my form.

Unpaid interest may capitalize on my loans during or at the expiration of my deferment or forbearance, but interest never capitalizes on Perkins Loans.

Page 1 of 4

Borrower NameBorrower SSN

SECTION 3: BORROWER REQUESTS, UNDERSTANDINGS, CERTIFICATIONS, AND AUTHORIZATION (CONTINUED)

I certify that:

The information I have provided on this form is true and correct.

I will provide additional documentation to my loan holder, as required, to support my deferment eligibility.

I will notify my loan holder immediately when my eligibility for the deferment ends.

I have read, understand, and meet the eligibility requirements in Section 2.

I authorize the entity to which I submit this request and its agents to contact me regarding my request or my loans at any cellular telephone number that I provide now or in the future using automated telephone dialing equipment or artificial or prerecorded voice or text messages.

Borrower's Signature

 

Date

SECTION 4: AUTHORIZED OFFICIAL'S CERTIFICATION

 

Note: As an alternative to completing this section, you may attach separate documentation from an authorized official that includes all of the information requested below or have your school report your enrollment to the National Student Loan Data System (NSLDS) at nsldsfap.ed.gov.

The student is/was enrolled at the school below:

Full time

At least half time, but less than full time

Is the student enrolled at the school below as a regular student?

Yes

No

The student's enrollment status begins/began on:

The student's enrollment status ends/ended on:

The student is expected to complete his/her program requirements on:

I certify, to the best of my knowledge and belief, that the information that I have provided in this section is accurate.

Name of School

 

 

 

 

OPEID

 

 

 

Address

 

City

 

 

State

 

 

Zip Code

 

Official's Name/Title

 

 

 

Telephone

 

 

 

 

Official's Signature

 

 

 

 

Date

 

 

 

 

SECTION 5: INSTRUCTIONS FOR COMPLETING THE DEFERMENT REQUEST

Type or print using dark ink. Enter dates as month-day-year (mm-dd-yyyy). Example: March 14, 2019 = 03-14-2019. Include your name and account number on any documentation that you are required to submit with this form. If you want to apply for a deferment on loans that are held by different loan holders, you must submit a separate deferment request to each loan holder. If you have loans made jointly (as co-makers), both borrowers must individually meet the requirements for a deferment and each of you must submit a separate deferment request. Return the completed form and any required documentation to the address shown in Section 7.

Page 2 of 4

SECTION 6: DEFINITIONS

 

The William D. Ford Federal Direct Loan (Direct Loan)

A deferment is a period during which you are entitled to

Program includes Federal Direct Stafford/Ford (Direct

postpone repayment of your loans. Interest is not generally

Subsidized) Loans, Federal Direct Unsubsidized Stafford/

charged to you during a deferment on your subsidized loans.

Ford (Direct Unsubsidized) Loans, Federal Direct PLUS

Interest is always charged to you during a deferment on your

(Direct PLUS) Loans, and Federal Direct Consolidation

unsubsidized loans. On loans made under the Perkins Loan

(Direct Consolidation) Loans.

 

 

Program, all deferments are followed by a post-deferment

 

The Federal Family Education Loan (FFEL) Program

grace period of 6 months, during which time you are not

 

required to make payments.

 

 

 

includes Federal Stafford Loans, Federal PLUS Loans, Federal

 

 

 

An eligible school is a school that has been approved by

Consolidation Loans, and Federal Supplemental Loans for

Students (SLS).

 

 

the Department to participate in the Department's Federal

 

The Federal Perkins Loan (Perkins Loan) Program

Student Aid programs, even if the school does not participate

includes Federal Perkins Loans, National Direct Student

in those programs.

 

 

 

 

Loans (NDSL), and National Defense Student Loans (Defense

A forbearance is a period during which you are permitted

Loans).

 

 

 

 

to postpone making payments temporarily, allowed an

 

An authorized official who may complete Section 4 is

 

extension of time for making payments, or temporarily

an official of the school where you are/were enrolled.

allowed to make smaller payments than scheduled.

 

Capitalization is the addition of unpaid interest to the

The holder of your Direct Loans is the Department. The

principal balance of your loan. Capitalization causes more

holder of your FFEL Program loans may be a lender, guaranty

interest to accrue over the life of your loan and may cause

agency, secondary market, or the Department. The holder of

your monthly payment amount to increase. Interest never

your Perkins Loans is an institution of higher education or the

capitalizes on Perkins Loans. Table 1 (below) provides an

Department. Your loan holder may use a servicer to handle

example of the monthly payments and the total amount

billing and other communications related to your loans.

repaid for a $30,000 unsubsidized loan. The example loan

References to “your loan holder” on this form mean either

has a 6% interest rate and the example deferment or

your loan holder or your servicer.

 

 

forbearance lasts for 12 months and begins when the loan

A regular student is a person who is enrolled or accepted

entered repayment. The example compares the effects of

for enrollment at an institution for the purpose of obtaining a

paying the interest as it accrues or allowing it to capitalize.

degree, certificate, or other recognized educational credential

 

A co-maker is one of the two individuals whoa re joint

 

offered by the institution.

 

 

 

borrowers on a Direct or Federal Consolidation Loan or a

A subsidized loan is a Direct Subsidized Loan, a Direct

Federal PLUS Loan. Both borrowers are equally responsible

Subsidized Consolidation Loan, a Federal Subsidized Stafford

for repaying the full amount of the loan.

 

 

Loan, portions of some Federal Consolidation Loans, a Federal

 

 

 

 

 

 

 

 

Perkins Loan, an NDSL, and a Defense Loan.

 

 

 

 

 

 

An unsubsidized loan is a Direct Unsubsidized Loan, a

 

 

 

 

Direct Unsubsidized Consolidation Loan, a Direct PLUS Loan, a

 

 

 

 

Federal Unsubsidized Stafford Loan, a Federal PLUS Loan, a

 

 

 

 

Federal SLS, and portions of some Federal Consolidation

 

 

 

 

Loans.

 

 

 

 

Table 1. Capitalization Chart

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Treatment of Interest with

Loan

Capitalized

Outstanding

 

Monthly

Number of

Total

 

Deferment/Forbearance

Amount

Interest

Principal

 

Payment

Payments

Repaid

 

 

 

 

 

 

 

 

 

 

 

 

Interest is paid

$30,000

$0

$30,000

 

$333

120

$41,767

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest is capitalized at the

$30,000

$1,800

$31,800

 

$353

120

$42,365

 

 

end

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest is capitalized

$30,000

$1,841

$31,841

 

$354

120

$42,420

 

 

quarterly and at the end

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Page 3 of 4

SECTION 7: WHERE TO SEND THE COMPLETED DEFERMENT REQUEST

Return the completed form and any documentation to:

If you need help completing this form, call:

(If no address is shown, return to your loan holder.)

(If no phone number is shown, call your loan holder.)

SECTION 8: IMPORTANT NOTICES

Privacy Act Notice. The Privacy Act of 1974 (5 U.S.C.

 

To assist program administrators with tracking refunds

552a) requires that the following notice be provided to you:

and cancellations, disclosures may be made to guaranty

The authorities for collecting the requested information

agencies, to financial and educational institutions, or to

federal or state agencies. To provide a standardized method

from and about you are §421 et seq., §451 et seq., or §461

for educational institutions to efficiently submit student

et. seq. of the Higher Education Act of 1965, as amended (20

enrollment statuses, disclosures may be made to guaranty

U.S.C. 1071 et seq., 20 U.S.C. 1087a et seq., or 20 U.S.C.

 

 

agencies or to financial and educational institutions. To

1087aa et seq.) and the authorities for collecting and using

counsel you in repayment efforts, disclosures may be made

your Social Security Number (SSN) are §§428B(f) and 484(a)

to guaranty agencies, to financial and educational

(4) of the HEA (20 U.S.C. 1078-2(f) and 1091(a)(4)) and 31

 

 

institutions, or to federal, state, or local agencies.

U.S.C. 7701(b). Participating in the William D. Ford Federal

 

Direct Loan (Direct Loan) Program, Federal Family Education

In the event of litigation, we may send records to the

Loan (FFEL) Program, or Federal Perkins Loan (Perkins Loan)

Department of Justice, a court, adjudicative body, counsel,

Program and giving us your SSN are voluntary, but you must

party, or witness if the disclosure is relevant and necessary

provide the requested information, including your SSN, to

to the litigation. If this information, either alone or with

participate.

 

other information, indicates a potential violation of law, we

The principal purposes for collecting the information on

may send it to the appropriate authority for action. We may

send information to members of Congress if you ask them

this form, including your SSN, are to verify your identity, to

to help you with federal student aid questions. In

determine your eligibility to receive a loan or a benefit on a

circumstances involving employment complaints,

loan (such as a deferment, forbearance, discharge, or

 

 

grievances, or disciplinary actions, we may disclose relevant

forgiveness) under the Direct Loan, FFEL, or Federal Perkins

records to adjudicate or investigate the issues. If provided

Loan Programs, to permit the servicing of your loans, and, if

for by a collective bargaining agreement, we may disclose

it becomes necessary, to locate you and to collect and

 

 

records to a labor organization recognized under 5 U.S.C.

report on your loans if your loans become delinquent or

 

 

Chapter 71. Disclosures may be made to our contractors for

default. We also use your SSN as an account identifier and to

the purpose of performing any programmatic function that

permit you to access your account information

 

 

requires disclosure of records. Before making any such

electronically.

 

 

disclosure, we will require the contractor to maintain Privacy

The information in your file may be disclosed, on a case-

Act safeguards. Disclosures may also be made to qualified

by-case basis or under a computer matching program, to

 

 

researchers under Privacy Act safeguards.

third parties as authorized under routine uses in the

 

 

Paperwork Reduction Notice. According to the

appropriate systems of records notices. The routine uses of

Paperwork Reduction Act of 1995, no persons are required

this information include, but are not limited to, its disclosure

to respond to a collection of information unless such

to federal, state, or local agencies, to private parties such as

collection displays a valid OMB control number. The valid

relatives, present and former employers, business and

 

 

OMB control number for this information collection is

personal associates, to consumer reporting agencies, to

 

 

1845-0011. Public reporting burden for this collection of

financial and educational institutions, and to guaranty

 

 

information is estimated to average 10 minutes per

agencies in order to verify your identity, to determine your

response, including time for reviewing instructions,

eligibility to receive a loan or a benefit on a loan, to permit

searching existing data sources, gathering and maintaining

the servicing or collection of your loans, to enforce the

 

 

the data needed, and completing and reviewing the

terms of the loans, to investigate possible fraud and to verify

collection of information. The obligation to respond to this

compliance with federal student financial aid program

 

 

collection is required to obtain a benefit in accordance with

regulations, or to locate you if you become delinquent in

 

 

34 CFR 674.34, 674.35, 674.36, 674.37, 682.210, or 685.204.

your loan payments or if you default. To provide default rate

If you have comments or concerns regarding the

calculations, disclosures may be made to guaranty agencies,

status of your individual submission of this form, please

to financial and educational institutions, or to state

 

 

contact your loan holder directly (see Section 7).

agencies. To provide financial aid history information,

 

 

 

disclosures may be made to educational institutions.

Page 4 of 4

File Breakdown

Fact Name Description
Form Purpose This form is used to request a deferment on federal student loans while enrolled in school, allowing borrowers to postpone payments.
Eligibility Criteria Borrowers must be enrolled at least half-time in an eligible institution to qualify for a deferment.
Loan Types Covered The form applies to several loan types, including Direct Loans, Federal Family Education Loans (FFEL), and Perkins Loans.
Interest Payment Option Students can choose to make interest payments on their loans during the deferment period, if desired.
Grace Period Perkins Loan borrowers receive a 6-month grace period after they no longer qualify for the deferment.
Capitalization Notice While interest generally capitalizes during deferment for unsubsidized loans, it does not capitalize on Perkins Loans.
Signature Requirement Borrowers must sign the form, certifying the accuracy of the information provided and their understanding of the deferment process.
Authorization of Contact Borrowers authorize communication regarding the request via phone or text using automated systems.
Submission Instructions Completed forms should be sent to the loan holder's address specified in the instruction section of the form.

Guide to Using In School Deferment Request

Completing the In School Deferment Request form is essential for borrowers who want to temporarily halt their student loan payments while enrolled in school. It's crucial to provide accurate and complete information to ensure eligibility for deferment. Follow the outlined steps carefully to maximize the chances of a successful application.

  1. Gather necessary personal information, including your Social Security Number, full name, address, and contact details.
  2. Review Section 2 to confirm your eligibility. Ensure you are enrolled at least half-time in an eligible school.
  3. In Section 3, mark the appropriate boxes indicating your requests and understandings regarding the deferment.
  4. Sign and date the form where indicated, certifying the accuracy of the information provided.
  5. Have an official from your school complete Section 4, or attach separate documentation if preferred.
  6. Ensure all dates are formatted as month-day-year (mm-dd-yyyy), and include any required supporting documents related to your deferment request.
  7. Review the completed form for accuracy and completeness before submitting.
  8. Return the signed form and any accompanying documentation to the address specified in Section 7 of the form.

After submitting the application, stay vigilant and check for any communication from your loan holder regarding your deferment status. Additional documentation may be required, so be prepared to provide it promptly if requested. Keep a copy of the completed form for your records, as it will be useful for tracking your deferment request and any decisions made on it.

Get Answers on In School Deferment Request

  1. What is the purpose of the In School Deferment Request form?

    The In School Deferment Request form allows borrowers to pause repayment of their student loans while they are enrolled at an eligible school at least half time. This deferment can help alleviate financial stress during school, as borrowers are not required to make payments on their loans during this period.

  2. Who is eligible to request a deferment?

    You are eligible for a deferment if you are enrolled at least half time in an eligible school. The school must be approved by the Department of Education to participate in federal student aid programs. Always check your enrollment status to ensure it meets these requirements.

  3. How do I fill out the form correctly?

    To complete the form, fill in all required borrower information, including your Social Security Number, name, address, and contact details. It’s essential to check for any updates in your information. Make sure to follow the instructions carefully, such as using dark ink and entering dates in the specified format (mm-dd-yyyy).

  4. What should I do if I have loans with different lenders?

    If you have loans issued by different lenders, you must submit a separate In School Deferment Request form to each loan holder. Each lender will process your request independently, ensuring you receive the applicable deferment on all your loans.

  5. What happens to interest on my loans during deferment?

    During the deferment period, interest is typically not charged on subsidized loans. However, interest will accrue on unsubsidized loans. It's crucial to understand that this accrued interest may capitalize when the deferment ends, potentially increasing your total loan balance.

  6. How do I keep track of my deferment status?

    You should regularly monitor your student loan account to confirm that the deferment has been applied. Notify your loan holder immediately if your eligibility for deferment ends. Make sure to keep interactions documented for your records.

  7. Can I make interest payments during the deferment?

    Yes, you have the option to make interest payments on your loans during the deferment period. If you choose this option, it can help minimize the amount of interest that capitalizes once the deferment ends.

  8. What do I do if I encounter issues with my deferment request?

    If you experience any issues or have questions about your deferment request, contact your loan holder directly. They can provide specific assistance related to your individual situation and guide you through the next steps if needed.

Common mistakes

Filling out the In School Deferment Request form can be challenging. One common mistake people make is failing to provide accurate borrower information. It’s crucial that borrowers double-check their Social Security numbers, names, and contact details. Errors in this section can delay processing and affect the deferment status.

Another frequent error involves misunderstanding the eligibility requirements outlined in the form. Borrowers must be enrolled at least half-time in an eligible program. If this detail is overlooked, applicants may mistakenly believe they qualify for deferment when they do not meet this specific criterion.

Completing Section 3 incorrectly is also a prevalent issue. Borrowers should ensure that all requested certifications are thoroughly checked and signed. Incomplete sections can lead to rejection of the request, which may have financial implications.

Additionally, borrowers sometimes neglect to gather the necessary documentation to support their eligibility. Providing supplemental documents can be a requirement that is easily forgotten, yet essential for the approval of the deferment request.

Lastly, many applicants fail to read the instructions carefully. The form specifies how to properly date entries and submit documentation. Ignoring these guidelines can cause significant delays, as the form may be returned for correction. Taking the time to heed all instructions can facilitate a smoother application process.

Documents used along the form

The In School Deferment Request form is essential for students seeking to postpone their student loan payments while they continue their education. When filling out this form, you may need to collect and submit other documents to support your request. Here’s a list of common forms and documents that frequently accompany the deferment request.

  • Enrollment Verification Form: This document confirms that a student is enrolled at an eligible institution and outlines their enrollment status. It is typically completed by a school official.
  • Loan Servicer Contact Information: This is a document that provides you with the necessary contact details of the company managing your loans. Having this on hand is useful for follow-up inquiries and clarifications.
  • Proof of Enrollment: This could be a transcript or a letter from the school that verifies your enrollment, including dates of attendance and whether you’re a full-time or part-time student.
  • Certification of Participation in an Eligible Program: This document, often from your school, states that you are participating in a degree program or a qualifying course of study.
  • Forbearance Request Form: If you're struggling but do not qualify for deferment, this form requests a temporary break on payments. It can be submitted alongside the deferment request.
  • Statement of Annual Income: Sometimes required when applying for deferment based on financial difficulties, this statement details your current income situation.
  • Loan History Statement: This statement shows your outstanding student loans, their balances, and their repayment status, helping to clarify your obligation when applying for deferment.
  • Tax Returns: Providing a copy of your most recent tax return can support your financial circumstances when requested during the deferment process.
  • Identification Documents: These may include a driver’s license or social security card. They help verify your identity when submitting your request.
  • Affidavit of Financial Hardship: In special cases, you might need to provide a written account detailing the reasons for your financial difficulties.

Each of these documents plays a critical role in reinforcing your eligibility for an in-school deferment. Having them prepared can help streamline the process and reduce the likelihood of delays. Be sure to double-check with your loan servicer to see which additional documents are needed for your specific situation.

Similar forms

  • Federal Student Aid Deferment Request: Similar to the In School Deferment Request form, this document allows borrowers to defer loan payments while attending an eligible educational institution. It also requires certification of enrollment status from a school official.

  • Loan Forgiveness Application: This document allows borrowers to apply for the forgiveness of loan amounts under qualifying circumstances, such as employment in specific public service roles. Like the deferment request, it demands specific eligibility requirements be met, which must be certified by an approved authority.

  • Income-Driven Repayment Plan Request: Borrowers submit this form to adjust monthly payments based on income. Both the income-driven repayment plan and the In School Deferment Request form require documentation of eligibility and income verification.

  • Forbearance Request: Similar to the deferment, this form allows borrowers to pause or reduce their payments temporarily. Both documents account for eligibility criteria and may lead to interest capitalization, but forbearance often requires different conditions.

  • Certification of Enrollment Status: This document may be used as supporting evidence for deferment requests. It confirms a student’s enrollment in an eligible program, similar to the section where an authorized official certifies the information on the In School Deferment Request form.

  • Direct Consolidation Loan Application: This application is for borrowers looking to combine multiple federal loans into one. Much like the deferment request, it requires detailed information about existing loans, including verification of enrollment status or income as applicable.

  • Postponement of Payment Request: This form is akin to a forbearance request but specifically addresses temporary payment stops due to hardship or other factors. Both documents involve eligibility assessments and can lead to short-term relief for borrowers.

  • Grace Period Application: This document allows borrowers to request a grace period after graduating or leaving school. Just like the In School Deferment Request, it recognizes the ongoing status of the borrower's education or employment circumstances that warrant a pause in payments.

  • Financial Hardship Statement: Similar in spirit, this statement allows borrowers to outline circumstances impacting repayment ability. It often accompanies other requests like forbearance or deferment and emphasizes the need for evidence of changing financial situations.

Dos and Don'ts

  • Do read the entire form carefully before you begin filling it out.
  • Do ensure you are currently enrolled at least half-time at an eligible school.
  • Do sign and date the form to certify that the information is correct.
  • Do provide additional documentation if required to support your eligibility.
  • Don't assume that your deferment will be approved without proper documentation.
  • Don't forget to notify your loan holder when your eligibility status changes.
  • Don't submit incomplete forms, as this can delay the processing of your request.

Misconceptions

Understanding the In School Deferment Request form is crucial for borrowers seeking relief from loan payments. However, several misconceptions often arise. Below are some of the most common misunderstandings:

  1. Only full-time students can request deferment. Many believe that only those enrolled full-time can qualify. In reality, borrowers who are enrolled at least half-time at an eligible institution can also apply for deferment.
  2. Interest does not accrue during deferment. There is a misconception that all types of loans do not accumulate interest during a deferment. This is not accurate. While interest does not accrue on subsidized loans during deferment, it is charged on unsubsidized loans.
  3. Deferment is automatic upon enrollment. Some borrowers think their loans are automatically deferred as soon as they enroll in school. Borrowers must actively submit the deferment request form and receive certification from their school.
  4. Repayment begins immediately after leaving school. Many assume that repayment starts right after graduation. However, borrowers of certain loans, particularly those from the Direct and Federal PLUS Loan programs, may have a 6-month grace period after leaving school before payments are due.
  5. The deferment request does not require documentation. It is a common belief that submitting the form alone is sufficient. Borrowers are often required to provide additional documentation to validate their eligibility for deferment.
  6. All loans can be included in a single deferment request. Borrowers frequently think they can submit one deferment request for all their loans. In reality, they must submit separate requests to each individual loan holder if they have loans serviced by different entities.

Clarifying these misconceptions can greatly assist borrowers in navigating the process of applying for deferment and managing their educational loan responsibilities effectively.

Key takeaways

  • Check your eligibility: Ensure you are enrolled at least half-time at an eligible school.
  • Accuracy is crucial: Provide true and correct information to avoid penalties.
  • Interest during deferment: Understand that while you are not required to make payments, interest may be charged on certain loans.
  • Complete all sections: Fill out all requested information, and be sure to sign the form.
  • Separate requests for multiple loans: If you have loans with different holders, send a separate request for each.
  • Submit on time: Return the form and any required documents before the deadline to ensure your deferment begins properly.
  • Stay informed: Notify your loan holder right away if your eligibility changes or ends.