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Postponing Payments

If you’re having trouble making payments temporarily, a postponement option may be a good fit for you. The two methods of postponement you may qualify for are deferments or a forbearance. 

Deferment


What is deferment?

A deferment is a period of time in which your payments are temporarily postponed. You have to meet specific criteria to qualify for deferment. To be eligible for a deferment your loans must be in repayment and you must provide specific documentation.

What deferment options are available?

Eligibility requirements differ between deferment type and are indicated on each deferment request form. A list of all deferment types can be found at Studentaid.gov. 

Does interest accrue during a deferment?

During a deferment, any accrued interest on subsidized loans will be paid by the U.S. Department of Education; however, you remain responsible for any accrued interest on your unsubsidized or PLUS loans. If you do not pay the interest during the deferment period, it will be capitalized (added to your principal balance) at the end of the deferment period. You can use this calculator to see what the cost of a deferment might be.

Forbearance


What is a forbearance?

A forbearance is another tool you can use when you have trouble making payments. If you are willing but financially unable to make your scheduled payments and do not qualify for a deferment, UHEAA may allow you to temporarily reduce the payment amount or temporarily postpone your payments. During a forbearance you are responsible for the interest that accrues on all loan types.

What forbearance options are available?

Eligibility requirements differ between forbearance type and are indicated on each forbearance application. A list of all forbearance can be found at Studentaid.gov. 

You can also request a verbal forbearance by contacting one of our loan specialists. 

Does interest accrue during a forbearance?

During a forbearance, you remain responsible for any accrued interest.  If you do not pay the interest during the forbearance period, it will be capitalized (added to your principal balance) at the end of the forbearance period. You can use this calculator to see what the cost of a forbearance might be.