Student Loan Deferment
We have included this information about deferment to make you aware of this option. This webpage should not be construed as an unequivocal endorsement for student loan deferment however.
Your deferment options vary according to the type of student loan you have in the first place. For instance, some student loans allow for deferment of both principal and interest payments while other loans only allow for deferment of the principal portions of the payments.
Note: Even if the interest portion of your payments are deferred, they are still accruing compounded interest that must be repaid later to avoid default.
As a general rule of thumb, you should be able to qualify for a student loan deferment under one of the following 4 categories:
1. You are enrolled on at least a half time program at another college. (Indefinite)
2. You are studying in an approved graduate fellowship program. (Indefinite)
3. You are unable to secure full-time employment. (Maximum of 3 years)
4. You are suffering from an economic hardship. (Maximum of 3 years)