Deferments may be granted for reasons such as half-time study, unemployment, economic hardship, graduate fellowships and rehabilitation training. Delinquency Failure to make a loan payment when it is due. If you are more than 90 days delinquent, your delinquency will be reported to the national credit bureaus and will negatively affect your credit rating. If you are delinquent for 180 days, you are considered in default. The date the loan check is issued by the lender.
Some lenders issue loan funds electronically.
Forbearance A temporary end to or reduction of payments which may be granted in cases of financial difficulty when you are not eligible for a deferment. Interest continues to accrue on your account. A period of time that starts when you cease to be enrolled at least half time and ends when the repayment period starts. You do not have to make loan payments during the grace period. The organization that insures Federal Stafford and PLUS loans for lenders.