| A college student loan has given many people all over | | | | situation does not make it possible to repay the |
| the United States a chance to further their education, | | | | student loans at this time. The way this works is in you |
| even if they are not making a lot of money. Education | | | | need to have income below the low standard of living |
| student loans can be a big help in paying for college, | | | | as determined by the U.S. Bureau of Statistics. Keep in |
| but what do you do if you find yourself in a position | | | | mind you may need to provide proof in this situation, |
| where you can't make the payments either because | | | | similar to the parental loan deferment. |
| of a disability or because of economic hardship? A | | | | 3. In-school Deferment - As long as you are enrolled at |
| student loan deferment is basically a privilege that | | | | least half-time (as defined by the school, normally six |
| allows you some flexibility to repaying your student | | | | units for undergraduates and 4 units for graduate |
| loans given your circumstances. To apply for | | | | students), no interest accrues and no payments are |
| deferment based on your economic situation, you must | | | | required until after a six-month grace period after you |
| apply every year and prove why you deserve to | | | | ceases to be enrolled at least half-time. |
| have your repayment stalled. Here are some eligibility | | | | 4. Disability - In the unfortunate case that you may |
| criteria for a student loan deferment: | | | | become disabled and unable to work for more than 60 |
| 1. Pregnant or Caring For a Newborn | | | | days, or you need to care for a disabled spouse or |
| Tending to a newborn or pregnancy has its own set | | | | dependent for more than 90 days, then you may be |
| of challenges. If you are not working, no longer in | | | | eligible for deferment. |
| school, and have attended school within the last 6 | | | | 5. Unemployment - You'll need to be working less than |
| months for at least halt-time, you may qualify for the | | | | 30 hours per week and you must prove your case in |
| parental leave student loan deferment. You will be | | | | order to qualify for a deferment. It's wise to keep |
| asked to provide proof in the form of documentation | | | | records of the jobs your seeking out and |
| regarding your current situation. Documents from your | | | | documentation from any unemployment benefits from |
| doctor documenting the pregnancy or a copy of the | | | | your area. In most cases, an unemployment check will |
| birth certificate should be adequate. If you are caring | | | | be done to confirm your status. |
| for an adoptive child, you'll need to get a statement | | | | The laws have changed for people with student loans |
| from the adoption agency referencing the adopted | | | | depending whether the loans where taken out before |
| child's placement. Certification from your school | | | | or after June 1, 1993. Usually, those who borrowed their |
| concerning your enrollment status over the previous 6 | | | | first Stafford Loans after July 1, 1993, are eligible to |
| months may also be required. The deferment has a | | | | defer payments if they are enrolled in at least half-time |
| maximum time limit of 6 months after which you would | | | | at an eligible school, unemployed, in a graduate |
| need to reassess your situation to determine if you | | | | fellowship program, in a rehabilitation training program |
| are able to start repaying your student loans again or if | | | | for people with disabilities, or suffering economic |
| you require another parent leave loan deferment. | | | | hardship. Seek advice from professors, student aid |
| 2. Economic Hardship - In this case, your financial | | | | counselors, and the dean or your university. |