When Should I Put My Student Loan on Deferment?
When Should I Put My Student Loan on Deferment?Answer: Student loan deferment allows you to temporarily stop making payments on your student loans. You may be required to continue making interest payments or you may be able to choose whether or not you pay the interest each month. Student loan deferment extends the period of time that it will take you to pay off the loan, and it causes you to pay more interest on the loans, so it is important to be sure that you really need to put the loans on deferment. If you have just lost your job you may want to put your loans on deferment until you find another job. Additionally if you are having a hard time meeting your basic needs you may want to put your loans into deferment. Some people will do this and focus on getting rid of their other debt as quickly as possible, but this is only if you cannot make all of your payment while paying on your student loans. You do need to contact your lender in order to set up the process of putting your loan
