Deferments

A deferment is a temporary postponement of payments on your student loan if you meet specific requirements. Deferment eligibility is often contingent on your specific situation, when you received your first outstanding loan, and what type of loan you have.

Common deferments include: 
Additional deferments are available for various circumstances. If you need assistance, call our Default Prevention Counselors at 1-877-293-8946 or email MGSLP Default Prevention.

NOTE: If you qualify for a deferment, the Department of Education will pay the interest that accrues on your subsidized Stafford loans while you are on a deferment. If you have any unsubsidized Stafford loans, you are responsible for the interest accruing on those. 

You may choose to pay the interest while in deferment or let it accrue and be capitalized (added to your principal balance) at the end of the deferment period. Capitalized interest increases your balance and can lead to a higher monthly payment as well as more interest paid over the life of the loan.