Staff Directrory Student Fin. As a student loan borrower you have privileges. The privileges you have depend on the type of loan you have and when you signed the promissory note.
Common privileges are deferment, forbearance, and cancellation or loan forgiveness.
These privileges can be used when you are having difficulty paying your loan back, or are in a specific of circumstances. Each privilege is explained below and links are provided at the end. Deferment A deferment is a period of time during which payments do not have to be made and for certain loans interest does not accrue. The most common deferment is a student deferment. Some loans have deferments for economic hardship, unable to find employment, and rehabilitation training.