Perkins Loan - Deferment
A deferment is a temporary postponement of payment. There are several types of deferment that you could qualify for on your Federal Perkins Loan. During a period of deferment no interest accrues.
You may qualify for a Student Deferment:
You may qualify for an Unemployment Deferment if you are seeking and unable to find full time employment.
Economic Hardship Deferment
You may qualify for an Economic Hardship Deferment
There may be other deferments available to you for special circumstances. In most cases, you aren’t just granted a deferment automatically; you must formally request one. Often you will need to complete a deferment form. Please click here to access the deferment form. You’ll need to provide documentation showing you are qualified for the deferment you are applying for. You must continue to make payments on the loan until you’ve been notified the deferment has been approved. Your loan might go into default otherwise.
Forbearance <<Back to Top
Forbearance is a temporary postponement or reduction of loan payments for a limited and specified period. Forbearance is granted if you are unable to make loan payments and you are not eligible for a deferment. Unlike a deferment, interest still accrues.