What are the requirements to receive student loan deferment?

In Virginia, student loan deferment is an option that can help borrowers manage their student debt by allowing them to temporarily suspend loan payments. To be eligible for a student loan deferment, borrowers must meet certain requirements. The first requirement for student loan deferment is that the borrower must have a loan from a qualified lender and must be in a good repayment status on the loan. The second requirement is that borrowers must meet specific criteria for their deferment. For example, borrowers may be able to qualify for an economic hardship deferment if they are facing certain types of financial hardships such as unemployment, underemployment, or disability. They may also qualify for a deferment if they are attending an eligible school, if they are in a military service area, or if they are in a rehabilitative or medical internship. Finally, borrowers may be able to qualify for a grace period deferment if they have recently graduated from an eligible school. This deferment enables borrowers to suspend payments for a certain grace period after graduating, allowing them to gradually start paying back their loans without immediately having to start making full payments. It is important to note that the requirements for student loan deferment may vary depending on the lender and the type of loan. Additionally, borrowers are strongly encouraged to contact their loan servicer or lender for more information on the specific requirements for their particular loan.

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What are the requirements to receive student loan deferment?

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