What are the requirements to receive student loan deferment?

In Illinois, to be eligible for student loan deferment, certain requirements must be met. Qualifying reasons for deferment include enrollment in school at least half-time, economic hardship, unemployment, military service, and more. To receive deferment of a federal student loan, such as a loan from the Federal Direct Loan Program, the borrower must submit a deferment request form and provide documentation to verify the eligibility. Depending on the type of deferment, the required documents may include proof of enrollment, a letter from an employer, military orders, or other documents. The borrower must also submit the request form to the loan holder or servicer and must meet satisfactory academic progress while in school. Depending on the type of deferment, the interest may still be charged on the loan during the deferment period. For loan rehabilitation, the borrower must make nine consecutive payments on time to the loan servicer. The payments must be for the full amount due, including principal and interest, and must be made within 20 days of the due date for each payment. It is important to know that loans may be permanently lost if the borrower does not submit a deferment request form or make the required payments. Therefore, it is important for borrowers to understand the requirements and make sure they are in compliance.

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What are the requirements to receive student loan deferment?

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