You did right. It could be some considerations to be done before you choose a to do a deferment. With a deferment, you won't have to make any payment for your loan, but equally, any progress to pay back your loan will be halted, so it could be a risky choice.
Umm, yeah, and that could be bad. Can you give me an alternative to that, then?
Of course, no problem with that. You can always consider to use an income-driven repayment as a more healthy alternative, so you don't have to delay your payments.
I'm still interested in learning more about Mandatory Forbearance. What loans are qualified for mandatory forbearance?
eligility would only apply to Direct Loans and FFEL Program loans.
Is there any relief of student loans payment because of COVID-19?
Yes, federal student loan borrowers are automatically being placed in an administrative forbearance to temporarily stop making loan payments from March 13, 2020 to Sept. 30 2020.
Am I able to get a mandatory forbearance if I am in Medical or Dental Internship or Residency?
Yes, if you are serving in a medical or dental internship or residency program and meet other requirements.
What is the time frame of a mandatory forbearance?