If you receive public assistance, serve in the Peace Corps, or make less than the minimum wage or poverty guideline, you may defer payments.
To qualify for this deferment, your first loan must have been disbursed on or after July 1, 1993, and you must meet one of the following requirements:
If you have a combination of FFELP, Direct, and Perkins loans and you have been granted an economic hardship deferment on one of your federal loans but not on the others, you may receive an economic hardship deferment on your other federal loans by providing the loan holder with documentation of the economic deferment previously granted. The cumulative maximum time limit for this deferment is 36 months.
Options are available to help
Most people do not realize that there are programs designed to help those who may be struggling with their student loan payments. Thousands of borrowers have trusted Ameritech Financial to be their advocate. Click here to find out what options are available. Our services could help you get back on track.Get Started Learn More