Payment Options

Deferment - A deferment is a temporary postponement of student loan payments during a specified period of eligibility. Borrowers have a legal right to a deferment if they meet specific conditions, such as returning to school or becoming unemployed. Depending on the loan types in a deferred status, the payments of principal and interest may both be postponed. To print deferment forms, visit our Forms page.

Forbearance - A forbearance is a temporary payment arrangement with the lender. The payments may be reduced or suspended for a specified period of time. While a loan is in a forbearance, the interest continues accrue. Any interest not paid is added to the principal. During a forbearance period, the loan will not be reported delinquent or accrue late charges as long as the agreed payments are made.