ELIGIBILITY CRITERIA FOR ECONOMIC HARDSHIP DEFERMENT:

ELIGIBILITY CRITERIA FOR ECONOMIC HARDSHIP DEFERMENT:

If I’d no outstanding stability on a FFEL Program loan at the time of the date I obtained that loan on or after July 1, 1993, i might defer payment of my loan(s) through the duration that We meet among the financial difficulty deferment conditions described in the DEFERMENT REQUEST part.

If my financial difficulty deferment eligibility is dependant on condition (1), as described within the DEFERMENT REQUEST part, i need to offer my servicer with documents associated with the deferment that is issued underneath the Direct Loan Program, Federal Family Education Loan Program, or the Federal Perkins Loan Program (for instance, communication from my servicer showing that i’ve been provided a deferment).

If my financial difficulty deferment eligibility is dependant on condition (2), as described within the DEFERMENT REQUEST area, i need to offer my servicer with documents confirming that i’m receiving or gotten payments under a federal or state assistance program that is public.

If my economic difficulty deferment eligibility is founded on condition (3), as described within the DEFERMENT REQUEST area, i need to offer my loan servicer with paperwork which certifies the start and expected closing dates of my solution into the Peace Corps and that will be finalized and dated by a certified Peace Corps official.

If my financial difficulty deferment eligibility is dependent on condition (4), as described within the DEFERMENT REQUEST area, i have to offer my loan servicer with paperwork of my month-to-month earnings as defined when you look at the DEFINITIONS area. If i will be reporting monthly income from work along with other sources, i need to offer documents such as for instance pay stubs. I must provide a copy of my most recently filed Federal Income Tax Return if I am reporting one-twelfth of my adjusted gross income.

If my financial difficulty deferment eligibility is dependant on condition (4), i need to make use of the applicable quantity based to my household size and state as shown when you look at the chart below. Continue reading “ELIGIBILITY CRITERIA FOR ECONOMIC HARDSHIP DEFERMENT:”