If I enter my repayment period on my Federal Direct Loan and am unable to begin making payments, is it possible to defer (postpone) repayment?
In certain situations. A student may postpone repayment of a Direct Loan if the student is enrolled at least half-time at a college or university. In addition, a student may qualify for a deferment of up to 3 years if the student is unable to find full-time employment or is experiencing an economic hardship. The student must request a deferment from his lender. A student who has already started repaying a student loan but who wishes to temporarily stop making payments may request a forbearance from his lender. • Will my parents have to demonstrate “financial need” in order to qualify for a Federal PLUS Loan? No. The Federal PLUS Loan is a non-need based loan, which means that financial need is not a factor in determining eligibility. However, unlike Federal Direct Loans, a parent borrower must pass a credit check. If the loan is denied based on credit, the borrower might still be able to receive a loan if the borrower can demonstrate that extenuating circumstances exist, or if someone
