The Higher Education Amendments of 1998 made changes to the qualifications for in-school and unemployment deferments. It is anticipated that final regulations will be issued in the near future on this issue with an effective date of July 1, 2000. A review of the changes is detailed below. Unemployment Deferment Borrowers who are eligible to receive unemployment benefits may submit evidence of this eligibility to qualify for initial and subsequent unemployment deferments. Borrowers who are not eligible for unemployment benefits must continue to register with a private or public employment agency if an agency is located within a 50-mile radius of their permanent or temporary address.
Space is provided on the deferment form for the name and address of the employment agency.
These changes are intended to simplify the deferment process for borrowers, lenders, and schools. Should you have any questions regarding these changes or deferments in general, please contact your Client Services Representative. What's New to Review As ISAC, and the rest of the financial aid community, continues to expand the services and products offered via the Internet, we want to keep you up to date on our Internet initiatives. The Cook's Corner section on The ISAC INFO Cafe has been revised to make it easier for users to navigate. We have also added some new links to Cook's Corner.