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What is Loan Deferment? One of the most imposing forces against many potential college students is the cost. Access to many student loan programs has done a lot to alleviate these worries. With this stressor gone, students are free to focus their thoughts on their studies, and not how they will pay for those studies. After a degree is received, the common hope for all students is to get a job in their field of expertise, and earn live a comfortable life. This is not always the case as a student graduates. Life throws your curveballs, you may not get the job of your dreams right out of school. It is because of these conditions that the possible option of a load deferment exists. A loan deferment allows you to temporarily postpone making your federal student loan payments or to temporarily reduce the amount you pay (Federal Student Aid, Deferment and Forbearance, 2014). There are several different types of deferments that are available, and each one has a unique set of criteria that would qualify you for eligibility. Enrolling back in school, financial hardships, or unemployment are some of the circumstances that are considered (Stafford, Federal Loan Deferment Options, 2014). Going along with the guidelines of a student obtaining a student loan in the first place, college students are given opportunities in the hopes that they succeed. There is no magic wand that is waved in front of a newly graduated student that will guarantee that they immediately find a job and make enough money to repay their student loans in the scheduled time that was planned. Subsidized loans will not accrue any additional interest during the time of deferment. This means that the balance you owe on the loan after the deferment period will be the same as it was before. With unsubsidized loans, interests will accrue during this time, so it is advantageous to at least pay the interest on the loan each month (Student Loan Borrow Assistance, Deferment, 2014). This is

Cited: Stafford.com. (2014). Federal Loan Deferment Options. Retrieved from. http://www.staffordloan.com/repayment/deferment.php Student Loan Borrow Assistance. (2014). Deferments. Retrieved from http://www.studentloanborrowerassistance.org/repayment/postponing-repayment/deferments/ Nelnet. (2012). Postpone your payments with deferment or forbearance. Retrieved from http://www.nelnet.com/postpone-your-payments/ Federal Student Aid. (2014). Deferment and forbearance. Retrieved from http://www2.ed.gov/offices/osfap/directloan/postpone.html Federal Student Aid an Office of the U.S. Department of Education. (2014). Deferment and forbearance. Retrieved from http://www.studentaid.ed.gov/repay-loans/deferment-forbearance#am-i-eligible-for-a-loan-deferment