5. Loans Where You Pledged Collateral Other Than a Motor Vehicle (4)
This section only lists deferments for loans disbursed after July 1, 1993. If you have loans disbursed at an earlier date, you can get more information from the Department of Education’s website at www.ed.gov or by calling your loan holder. For more details on obtaining deferment on any type of loan, see Take Control of Your Student Loan Debt, by Robin Leonard and Deanne Loonin (Nolo).
You can request a deferment on any federal loan disbursed after July 1, 1993, if:
- You are enrolled in school at least half-time.
- You are enrolled in an approved graduate fellowship program or a rehabilitation program for the disabled.
- You are unable to find full-time employment.
- You are suffering from economic hardship.
In addition, you can defer a Perkins loan for most of the reasons listed in Section a, above.
To obtain a deferment of a federal student loan, contact the current holder of your loan. If you don’t know who currently holds your loan, contact the financial or educational institution you initially borrowed from. If that institution has sold your loan or sent it elsewhere, it will tell you.
Ask the holder of your loan to send you a deferment application form. Fill it out thoroughly. The holder of your loan may require that you submit supporting documentation, such as periodic verifications of your job search if you obtain an unemployment deferment. Be sure to comply. Deferment forms are available on the Department of Education’s website at www.ed.gov.
Taken From : Credit Repair by Attorneys Robin Leonard and Deanne Loonin
