LOAN DEFERMENT SUMMARY CHART

Deferment Condition Direct Loansa, b FFEL Loansa, c Perkins Loans
At least half-time study at a postsecondary school YES YES YES
Study in an approved graduate fellowship program or in an approved rehabilitation training program for the disabled YES YES YESd
Unable to find full-time employment Up to 3 years Up to 3 years Up to 3 years
Economic hardship (includes Peace Corps Service) Up to 3 years Up to 3 years Up to 3 years
Engages in service listed under discharge/cancellations conditions NO NO YESd
Active Military Duty (for loans first disbused on/after July 1, 2001; while borrower is on active duty during a war or other military operation, or national emergency) Up to 3 years Up to 3 years Up to 3 years

a For PLUS loans and unsubsidized Stafford Loans, only principal is derred. Interest continues to accrue.

b A Direct Loan borrower who had an outstanding balance on a FFEL Loan first disbursed before July 1, 1993, when the borrower received his or her first Direct Loan, is eligible for additional deferments.

c Applies to loans first disbursed on or after July 1, 1993 to a borrower who has no outstanding FFEL or Federal Supplemental Loans for Students (Federal SLS) loan on the date he or she signed the Promissory Note. (Note that the Federal SLS Program was repealed beginning with the 1994-95 award year.) Different deferments are available for borrowers with pre-July 1, 1993 loans.

d More information on teaching and other types of service deferments and cancellations can be found online at www.FederalStudentAid.ed.gov At the site, click on "Students, Parents and Counselors."

Attention: You must formally request a deferment through the procedures established by the holder of your loan, and you must continue making payments until you're notified that the deferment has been granted.

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