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Delaying Loan Payments

Under certain circumstances, you may qualify for an in-school loan deferment (temporarily putting off loan payments) or forbearance (stopping loan payments for a given period) from your lender.

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Deferment

You may be able to defer repayment of a Federal Direct Loan if:

  • You have made your payments on time or are in the grace period after graduation, or have been granted other deferments or forbearances.
  • You are enrolled in school at least half-time--in which case you can almost always defer the payments on your student loans. Half-time status is defined as follows:
    • Undergraduate: 6 credit hours of study in a term
    • Graduate: 3 credit hours of study in a term.
    • Exam based programs (e.g. Excelsior's Associate in Science in nursing program): Register for at least 6 credits and send a commitment letter stating you will complete the 6 credits of independent study and examinations by June 30 (if taking exams between January 1 and June 30), or by December 31 (if taking exams between July 1 and December 31).

For students enrolled in a federally eligible program, we report a 'snap shot' of enrollment on or around the 12th of each month. In order for your student loans to remain in deferment, you must maintain a half time enrollment status during an entire term.

Obtaining a Deferment

Follow these steps:

  1. Contact your lender or holder of your loan and request the form appropr