If you’re struggling to make your student loan payments, you might be wondering how to get deferred student loans. Deferment lets you temporarily stop making payments on your federal student loans, and in some cases, on private loans. This guide explains the steps you need to take, who qualifies, and what to expect.
What is Student Loan Deferment?
Deferment is a period when your loan payments are paused for a specific reason, such as returning to school, unemployment, or economic hardship. During deferment, you are not required to make payments. For subsidized federal loans, the government pays the interest that accrues during deferment. For unsubsidized loans, you are responsible for the interest, which may be added to your loan balance.
Who Qualifies for Deferment?
Eligibility depends on your loan type and your situation. Federal student loans offer several deferment options, including:
- In-school deferment: If you are enrolled at least half-time at an eligible school.
- Unemployment deferment: If you are actively seeking full-time employment but cannot find a job.
- Economic hardship deferment: If you are receiving public assistance or serving in the Peace Corps.
- Military service deferment: If you are on active duty during a war or national emergency.
- Post-active duty deferment: If you are a member of the National Guard or other reserve component.
Private student loans may have their own deferment options, but terms vary by lender. You must contact your loan servicer to see what is available.
How to Apply for Deferment
Applying for deferment is a straightforward process, but you must act before you miss payments. Here are the steps:
- Contact your loan servicer: Find out who services your loan. You can check the National Student Loan Data System for federal loans.
- Request a deferment form: Ask your servicer for the specific form for your situation, such as the Economic Hardship Deferment form.
- Complete the form: Provide all required information and documentation, such as proof of unemployment or enrollment.
- Submit the form: Send it to your servicer by mail or online, if available. Keep a copy for your records.
Your servicer will review your application and notify you of the decision. If approved, your payments will stop for the deferment period.
Deferment vs. Forbearance
Deferment and forbearance both pause payments, but they are different. Deferment is often better because interest may not accrue on subsidized loans. Forbearance is available when you do not qualify for deferment, but interest always accrues on all loans. The table below compares the two options:
| Feature | Deferment | Forbearance |
|---|---|---|
| Interest on subsidized loans | Paid by government | You pay or it accrues |
| Eligibility | Specific reasons (school, unemployment, hardship) | Financial hardship, illness, other situations |
| Duration limits | Varies by reason (e.g., 3 years for unemployment) | Up to 12 months at a time, max 3 years total |
| Application process | Form required | Request to servicer |
How to Get Deferred Student Loans for Private Lenders
Private student loan deferment is not guaranteed. You must contact your private lender directly to ask about options. Many lenders offer forbearance for hardship, but deferment is less common. If you have private loans, call your lender before you miss a payment. Explain your situation and ask about any available programs. Get any approval in writing.
Tips for Managing Deferment
- Apply early—do not wait until you are already delinquent.
- Keep documentation of your deferment approval.
- If you have unsubsidized loans, consider paying the interest to avoid it adding to your balance.
- Mark your calendar for when deferment ends so you can start payments again.
What Happens After Deferment Ends?
When your deferment period ends, you must resume making payments. Your servicer will send you a statement with your new payment amount. If you are still facing hardship, you may apply for another deferment or switch to an income-driven repayment plan.
Conclusion
Getting deferred student loans is possible if you qualify and apply correctly. Start by contacting your loan servicer, complete the required forms, and submit them before you miss a payment. Remember that deferment is temporary, so plan ahead for when payments resume.
Frequently Asked Questions
How long can I defer my student loans?
Deferment lengths vary by reason, such as up to three years for unemployment or while you are enrolled in school.
Do I have to pay interest during deferment?
For subsidized federal loans, the government pays the interest, but for unsubsidized loans, you are responsible for it.
Can I get a deferment on private student loans?
Private lenders may offer deferment or forbearance, but it is not guaranteed; you must contact your lender to ask.
What is the difference between deferment and forbearance?
Deferment may not accrue interest on subsidized loans, while forbearance always accrues interest on all loans.
How do I apply for student loan deferment?
You apply by contacting your loan servicer, completing the required deferment form, and providing supporting documentation.
