Financial aid information for student veterans : your guide to federal loan deferment, forgiveness, forbearance and discharge options for student veterans and military personnel

              Financial Aid Information for Student Veterans
Your guide to federal loan deferment, forgiveness, forbearance and
discharge options for student veterans and military personnel
Deferments
What is a deferment?
A deferment allows borrowers to temporarily postpone payments on a Federal Family Education Loan Program (FFELP) loan.
Deferments are granted in specific situations and have certain time limits and conditions for eligibility.
Deferments are entitlements. If a borrower is eligible and provides the required documentation, the borrower can’t be denied the deferment.
During a deferment, the federal government will pay the interest accrued on a subsidized Federal Stafford loan. Military Service Deferment
A deferment for borrowers in the FFELP, Federal Direct Loan Program (FDLP) and Federal Perkins Loan Program who are called to active duty during a war, other military operation or national emergency.
Eligible borrowers may receive a deferment on all outstanding Title IV loans in repayment for all periods of active duty service that include or begin on or after Oct. 1, 2007.
A borrower or borrower’s representative must request the military service deferment.
Without supporting documentation, a lender may grant a military service deferment to an otherwise eligible borrower for a period not to exceed 12 months.
The deferment is extended for an additional 180 days after each time a borrower is demobilized from a qualifying active duty service and provides documentation.
Not all active duty military personnel are eligible for the military service deferment.
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