What are the requirements to receive student loan deferment?

In Wisconsin, the requirements to receive student loan deferment depend on the type of loan taken out. Generally, borrowers must be experiencing financial hardship, or enrolled in an approved program, such as a program of graduate school, or enrollment in accredited school or college. For federal student loans, borrowers must meet the following conditions to receive deferment: (1) be enrolled at least half-time in an accredited school or college, or in an approved graduate fellowship program, internship, rehabilitation training program for the disabled, or a national service program approved for student loan deferment; (2) be able to demonstrate economic hardship; (3) be unemployed, or working full-time and earning a monthly income that is less than the amount of the borrower’s loan payments; and (4) be on active duty in the military or as a National Guard member. For private student loans, borrowers must demonstrate economic hardship to qualify for deferment. The terms and conditions of each private loan are different, so borrowers should contact their loan servicer to discuss their options. In general, borrowers must be able to show proof of financial hardship or enrollment in an approved program. Borrowers should be aware that not all types of student loans are eligible for deferment. Borrowers should consider all of their options and contact their loan servicer for details on their loan program and the applicable deferment options.

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What are the requirements to receive student loan deferment?

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