What is the difference between forbearance and deferment?
Deferment means that your loans do not have to be repaid until after your service. If your loans are subsidized, you will not have to pay interest. Forbearance also means that you do not have to repay your loans until after your service, but interest may accrue. To determine what is necessary to ensure your loans are deferred, contact your lending institution(s) and ask them what forms you must complete.
Related Questions
- I recently sent in a deferment/forbearance request to Edfinancial Services. Will my deferment/forbearance automatically be applied on my loan(s) that was transferred to the Department of Education?
- Who do I contact to get more information regarding Loan Repayment, Deferment or Forbearance?
- What is the difference between a deferment and a forbearance on my Federal loans?
