Are there deferments available on a Federal Consolidation Loan?
If you meet certain requirements, you may receive a deferment that allows you to temporarily stop making payments on your loan. If you cannot make your scheduled loan payments, but do not qualify for a deferment, we may give you a forbearance. A forbearance allows you to temporarily stop making payments on your loan, temporarily make smaller payments, or extend the time for making payments. Deferment: You may receive a deferment while you are: • Enrolled at least half-time at an eligible school; • In a full-time course of study in a graduate fellowship program; • In an approved full-time rehabilitation program for individuals with disabilities. • Unemployed (for a maximum of three years; you must be conscientiously seeking, but unable to find, full-time employment); or • Experiencing an economic hardship (including Peace Corps service), as determined under the Act (for a maximum of three years). • Serving on active duty during a war or other military operation or national emergency, or
