There are no additional fees. Under certain circumstances, you can receive a deferment to temporarily postpone payments on your loan. You do not pay interest during the deferment period. Under certain circumstances you can receive forbearance, a limited and temporary postponement or reduction of your payments if you are unable to meet your repayment schedule and are not eligible for a deferment. These circumstances may include poor health, serving in a medical or dental internship or residency, or if the payments exceed 20 percent of your monthly gross income.
Interest is accrued during the forbearance period.
Deferments and forbearance must be approved by your school. Even the woodpecker owes his success to the fact that he uses his head and keeps pecking away until he finishes the job he starts. All Rights Reserved.