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Can you clarify the difference between loan level vs. borrower level for the new military deferment type?

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Can you clarify the difference between loan level vs. borrower level for the new military deferment type?

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Only loans first disbursed on or after July 1, 2001 qualify for this deferment. Therefore, if a borrower had loans disbursed prior to AND after July 1, 2001 only the loans disbursed after to July 1, 2001 would be eligible.

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