Are deferments and forbearances available for consolidation loans?
In most cases, consolidation does not disqualify a borrower from certain deferment of forbearance options. However, borrowers may not qualify for a military deferment on aconsolidation loan if they include at least one loan disbursed prior to July 1, 2001. Following are the deferment and forbearance options that are available: Deferment options: · Economic hardship · Unemployment · Military Service · At least half time enrollment Forbearance Options: · Temporary Hardship · Internship/residency Borrowers will need to contact their consolidation lender/servicer in order to apply for any type of deferment or forbearance.
