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How to defer a college loan?

How long can one defer college loan payments to the government by continuing school part-time?

  • Answer:

    The first thing to do is, in fact, contact your lender. However, as long as you are enrolled on at least a half time basis (6 credits) each sememster, your loans should be deferred. Your school should report your enrollment status to the National Clearinghouse, which is then reported to your lender and guaranty agency. An ideal website for you to check is http://www.nslds.ed.gov/ You can check your loan status and enrollment status.

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Call your lender and ask them, there are probably some forms you'll have to fill out for them. I know you can defer the loans if you continue on a full time basis, at least 12 hours a semester, but I'm not sure if you can defer payments as a part-time student.

zbelle

you can defer payments if you what your monthly payments would be are more than 1/3 of your monthly gross income. so, as long as you're part-time (depending how much money you make on the side) you can defer, but most lenders have limits to that; also you have to constantly reapply for deferments, and each time prove your income and enrollment.

drcysto

If you live in the united kingdom and you earn £15,000 pounds or less for a certain amount of years,then the college loan will be wiped clean.But let me stress,you will definatly have to work to over the age of fifty before this will happen.

igenockey

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