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STUDENT LOAN DEFERMENT
According to my dictionary, to defer is to delay or put off some called for action. In the case of a student loan deferment, it is the government’s permission to delay payment on your student loans. Sound pretty good, huh?
In order to obtain this permission, you must meet certain qualifications. Student loans covered under Master Promissory Notes signed prior to July 1993 have one set of deferments available to them, and student loans covered under Master Promissory Notes signed after July 1993 have a different set of deferments available to them. The details of these deferments are outlined in my book, “Surviving Your Student Loans”.
All federally guaranteed student loans have some provision for an in-school deferment. As long as the student borrower is enrolled in an accredited post-secondary school at least half time, that student may defer payment on their student loans. If your school is not accredited, you do not qualify for deferment, and the degree, diploma, or certification you receive may or may not qualify you for the employment you seek. Know your school.
Prior to 1986, in-school deferment extended to the parent borrower as well, and many people are under the mistaken impression that it still does. It does not! The parent borrower only qualifies for deferment on the loans they took out for their dependent students if the parent is also a student.
Student Loan Deferment:
Student Loan Topics:
Master Promissory Note, Student Loan Deferment, Student Loan Forbearance, Student Loan Consolidation, Student Loan Discharge, Student Loan Grace Period, Subsidized
Student Loans, Unsubsidized Student Loans, Stafford Student
Loans, Perkins Student Loans, Direct Student Loans, PLUS
Student Loans, William G. Ford Student Loans, Student
Loan Delinquency, Student Loan Default, Student Loan Payment
Options, Student Loan Case Studies, Student Loan Management,Additional Reading Relating To Student Loans, How Do I Get A
Student Loan, How Do I Confirm the Status of my Student Loans, Why
Do I Owe Twice As Much As I Borrowed On My Student Loans, Pending
Changes Affecting Student Loans, Bankruptcy and Student Loans, Student Loans And Your Credit Report, Student Loans, Gifts.
