Deferment vs Forbearance: The Ultimate Guide for Student Loan Borrowers


Deferment vs Forbearance: The Ultimate Guide for Student Loan Borrowers

Student loan deferment and forbearance are two options that allow federal student loan borrowers to temporarily stop making payments on their loans. Deferment is available for borrowers who are experiencing financial hardship, while forbearance is available for borrowers who are experiencing a temporary hardship.

Deferment is a period of time during which the borrower does not have to make payments on their student loans. Interest will not accrue on the loans during deferment. Deferment is available for up to three years, and borrowers can apply for deferment multiple times.

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