Deferred student loans

 There are 5 main types of deferred student loans we will talk about right now:

1. Education deferments

2. Economic deferment

3. disability deferment

4. family related deferments

5. public service deferment

Lets start with educational deferred student loans- As long as the student is enrolled in part time classes, they can defer a student loan until the student is finished part time classes. To be considered for an in school loan deferment, the student must have an outstanding supplemental, Stafford, PLUS, or consolidation loan. Also, your educational institute must verify that you are considered a part time or full time student.

Economic Deferment- In order to quality for this type of deferment, the student must provide a statement of their annual earnings proving that their earnings are below particular wage guidelines established by the Bureau of Labor Statistics.

Other deferred student loans are the disability deferment type. If a student cannot work due to an illness or injury, or even if they are caring for a family member who is disabled, the student may qualify for these deferred student loans.

Family related deferments are those that a student can qualify for if they are pregnant or caring for an infant, unemployed, and at least a part time student six months prior.

Public service student loan deferments fall under 5 main categories:

1. Military deferment

2. public health

3. NOAA

4. peace corps

5. tax exempt organization/volunteer

To qualify for the above deferred student loans, you must meet the following criteria: If you are currently in the military, you will have to provide documentation as proof. To qualify for public health, you need a statement from an authorized official of the Public Health Service, certifying that you are currently serving as a full-time officer in the Commissioned Corps of Public Health Service. For NOAA, you need certification from an official of the NOAA Corps. To qualify for peace corps deferred student loans, you need to serve for at least one year. If you are employed in an organization that is tax exempt (Section 501 (c) (3) of the Internal Revenue Code, you can qualify for the tax exempt deferred student loans. 

If you believe that you qualify for one of the above types of deferred student loans, then get in contact with your lending agent, for further information.