Friday, July 3rd, 2009

I am unemployed and receiving unemployment benefits will I be able to get a student loan deferment?

student loan deferment
INTERNET HATE MACHINE 4.0 asked:


I am sending in the form anyways but what the chances they will decline my deferment as my unemployment isn’t nearly what I was making and I will not be able to make my student loan payments on top of all the other bills I have

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This entry was posted on Friday, July 3rd, 2009 at 12:00 am and is filed under Student Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “I am unemployed and receiving unemployment benefits will I be able to get a student loan deferment?”

MeliseR Says:
July 5th, 2009 at 1:00 am

They will give you certain financial criteria. If your income (unemployment or otherwise) is below their criteria, then you qualify for deferment. If not, then you are required to continue paying your loans. Also, sometimes even when you are in deferment, they can still charge you the interest.

mjj092000 Says:
July 7th, 2009 at 2:24 pm

You will get a Forbearance (Deferment is only for students attending school at least half time) usually for 2 yrs max. It’s the same thing, just different requirements. As long as you meet their requirements (being unemployed it one of them) you will be approved. Once you can afford to start making the payments, do it… even if that’s only a month or two down the road.

purplestar Says:
July 10th, 2009 at 11:58 pm

You’ll be fine. All you have to do is fill out an economic hardship form and they will defer payments. I suggest you start looking for work and put as much as you can towards your student loans/interest. You still will be in deferment status, just submit what you can on your student loans.

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