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If you filed for deferment, you are still eligible for an income-based repayment plan once your deferment period is over, says Mark Kantrowitz, publisher of FinAid.
Your next step, before your deferment ends, might be to select a repayment plan, possibly looking at a decade or two of paying these bills.
how long your deferment will last.
When you receive notice that your deferment has been approved, you can stop making payments for the period specified.
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Your loans are not "forgiven," and you will have to make your payments again once your designated deferment period is over.
You will receive notice of either your approval, deferment or denial, or a request for more documentation, within 3 months.
If you are having trouble making your payments, contact your loan servicer(s) as soon as possible to explore options such as changing your payment plan, deferment or forbearance.
Under a deferment your lender allows you to skip payments, generally for up to one year.
Under a deferment, your lender will allow you to skip payments, generally for up to a year at a time.
If possible, pay the accruing interest on unsubsidized loans during your period of deferment.
Depending on your particular loan servicer and your specific circumstances, you may need to prove your eligibility for a deferment.
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