Unemployment Deferment . Borrowers are eligible for 3 years of deferment if the borrower is unable to secure full time employment. To see if you qualify for this benefit, please contact your student loan representative. Hardship as determined by the school . This deferment defers payments to principal only.
Interest continues to accrue.
In most cases, interest charges will be billed monthly. However, the borrower needs to serve one full year in the Peace Corps to be eligible for this benefit. The borrower only receives a stipend. Temporary Total Disability . The deferment is granted during a period in which you are temporarily totally disabled as established by affidavit of a qualified physician or are unable to secure gainful employment because you are providing care for a spouse who is temporarily totally disabled.