Are deferments and forbearance possible with a consolidation loan?
Under certain circumstances, you may have a right to postpone payments on a Federal Consolidation Loan. A deferment may be available if you are: Enrolled in school at least half-time Enrolled full-time in a graduate fellowship program Enrolled in a full-time rehabilitation-training program for individuals with disabilities Actively seeking, but unable to find, full-time employment (for up to three years) Experiencing an economic hardship as determined by federal law (up to three years) If you are in deferment under one of the categories listed above on the loans you are consolidating, you may reapply for a deferment with our loan servicer partner. If you are unable to make your scheduled payments, you may be able to make a reduced monthly repayment, extend the time to make repayments, or temporarily stop making payments if you apply for forbearance. Interest charges continue to accrue during a forbearance period. A forbearance may be available if you: Are serving in a medical or dental
