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How many times can you defer your student loans with the federal government?

Posted by admin in February 23rd 2009

quake1920 asked:

I just completed graduate school a few months ago and I consolidated my student loans from undergrad and grad school and it is time to start repayment on my student loans. How many times can you defer your student loans..I consolidated them with the extended payment plan which is 30 years?

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3 Comments Received

L W
February 25th, 2009 @12:11 pm

I’ve heard of Doctors that never repay their loan. They keep putting them off several times.

scrappysmom
February 26th, 2009 @4:05 pm

there is a economic hardship which can extend 4 years, there is an interest only payment that last 2 years.. There is a income sensitive (u pay a percentage of ur income) this can go 4 years I think.. Then u have some for illness, unemployement or underemployment… I would say probably 20 years if u qualify for all the deferments.. And if u ever get sick and become disabled they will write them off and cancel the debt.

KyFADirector
March 2nd, 2009 @2:20 am

As long as you qualify for a deferment you can continue to take it. After consolidating the rules for deferments might have changed so each time you think you might qualify for a deferment ask your lender. Forberances are were you accure interest on all parts of the loan but do not have to make any payments can be taken quite frequently too as long as you qualify and keep within the lenders restrictions.