Loan Deferment and Forbearance

Deferment:

 

You may be able to postpone payments on a loan or debt. For student loans, this may be an option for you during circumstances such as unemployment, financial hardship, military service, or school attendance.

Forbearance:

 

In certain cases, lenders may allow you to temporarily make smaller payments or stop making payments altogether to avoid default. Federal Direct Student Loans offer this option, but it is important to note that you will be responsible for interest that accrues during forbearance.