Financial Aid - Forbearance, Deferred and Extended Payments for Federal Loans
Deferments, forbearance and extended repayment plan options are available with Direct Loans.
- Deferments and Forbearance
- Deferments - temporarily delay your principle and interest payment
- Forbearance - stop making payments or reduce your monthly payment for up to 12 months if you are temporarily unable to make loan payments due to poor health or other acceptable reasons.
- Extended repayments - make lower monthly payments over a longer period of time.
Direct Loan Servicing capitalizes all unpaid interest including:
- Upon entering repayment.
- Upon expiration of a deferment period.
- Upon expiration of a forbearance period.
- Annually if you are repaying under the Income Contingent Repayment (ICR) plan in which payments do not cover monthly interest accrual.