Nursing Student Loan Deferment Eligibility and Definitions Student Deferment. Peace Corps Volunteer. Up to three years as a volunteer under the Peace Corps Act. Up to three years as a member of a uniformed service. Up to three years in cases of extreme financial hardship.
Forbearance allows for a temporary suspension of payments, but interest still accrues.
You may be allowed to make reduced payments over a limited time period because of inability to meet the payments required by your repayment schedule.