Student Loans: Requirements for Deferment and Forbearance

Getting a student loan deferment or forbearance can give you some relief whenever you have to deal with negative financial situations. Before you will be able to take advantage of either option, you need to determine if you are eligible. Here are some of the requirements for deferments and forbearances on student loans.


With a student loan deferment, you can postpone your monthly payment, and interest will not accrue on your account. There are a few different situations that would potentially allow you to qualify for deferment. For example, if you are unemployed or working fewer than 30 hours per week, you may be able to qualify. This option is also offered if you go back to school full time or half time. You might also be able to qualify if you are pregnant or have a new baby.


With a forbearance, you will be able to postpone payments, but your interest will continue to accrue. This is typically much easier to qualify for. If you are a member of the military or National Guard, you can qualify for this program. You will also be able to qualify for a forbearance if you have any type of financial hardship to deal with.