Understanding deferment

Deferment lets you temporarily suspend making your student loan payments. You may be granted deferment on your student loan for a variety of reasons.

Deferment can be authorized for

  • economic hardship,
  • unemployment,
  • military deployment,
  • enrollment in school,
  • internship,
  • national service, and
  • similar situations.

You are responsible for paying your education debt even when granted deferment. Deferment is temporary and limited to specified time frames.

If you've already had one deferment, you may be eligible for the same type again. In other cases, you may have exceeded the time limit on a particular deferment and may no longer be eligible to apply for that same type.

Eligible federal student loans

  • Stafford loans
  • Parent PLUS loans
  • Graduate PLUS loans
  • Federal consolidation loans

For subsidized Stafford loans, interest does not accrue during deferment. For unsubsidized loans (including unsubsidized Stafford, Graduate PLUS, and Parent PLUS), the interest accrues and is capitalized at certain times, and you are responsible for paying it.

Private student loans

Most private student loan deferment eligibility is based on loan type. Contact your student loan servicer to discuss possible deferment options.