What does it mean to “defer” a student loan?
To defer a student loan is to hold off on paying back the principal of the loan until after you have completed your education. Deferral programs vary from lender to lender and the federal government also offers a deferment program federally backed student loans. It is important to remember that under many of these programs you must qualify first in order to defer payments. Please talk with a financial aid advisor to understand the program that works for your unique situation.
