I'll be looking through my exit papers when I get home but for now... does anyone know if I can defer my current student loans while going to grad school? I'm ahead on payments but I'll be going to grad school next september. Thank you.
2006-10-03 05:10:56 · 6 answers · asked by gabyrig 3 in Education & Reference ➔ Financial Aid
P.S. It's a government loan (either Stafford or Perkins).
2006-10-03 05:52:13 · update #1
You absolutely can. All college loans offer an in-school deferment. Contact the company that holds your loans and find out the process of filing for deferment. Usually it consists of getting the school you will be attending to notify the loan company of your enrollment. Be sure that you take atleast half-time or more in order to get the deferment though. Good Luck.
2006-10-03 05:59:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It also dependents on the type of loan. If you are paying on your loan while you are in school, then you may have a unsubsidized loan. Interest can be paid while in school or let it accumlate onto the principle and then pay it off once you finished school or drop below 6 credits. Now, perkin is a 5% loan and the interest is deferred until you drop below 6 credits or graduate from school.
2006-10-03 15:29:03 · answer #2 · answered by sunshine23511 5 · 0⤊ 0⤋
Pick up the phone and give the people who gave you the loans a call, more than likely they may be willing to do just that? Each student loan is different. I had a GSL when in college. I know I was able to defer it for 10 years while I was in the military.
2006-10-03 12:13:49 · answer #3 · answered by Blossom_Kitty 3 · 0⤊ 0⤋
Yes you can defer the payments. Just call your bank and let them know what's going on, and try to come up w/ a good excuse and then tell them your going back to school. You shouldn't have to pay on your loans as long as you in school. But, then again it may depend on your bank.
2006-10-03 12:40:25 · answer #4 · answered by jfurlerbaby23 2 · 0⤊ 0⤋
I believe that while you are enrolled in school or grad school, your payments are deferred. The best way to find out is to talk with the financial aid department.
2006-10-03 12:13:37 · answer #5 · answered by eeaglenest 3 · 0⤊ 0⤋
Be careful, sometimes when you defer your student loans, you lose that awesome interest rate that you got in the beginning and they start adding on interest like crazy.
2006-10-03 12:23:39 · answer #6 · answered by rtlsimpson 3 · 0⤊ 0⤋