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Deferment plans

A loan repayment can be deferred. That is to say, your repayment can be delayed for a while. You don’t need to pay your loans in this duration, and your interest may be paid by the federal government. The following loans are the types of loans whose interest may temporarily be paid by the government:

• Direct Subsidized Loan

• Federal Perkins Loan

• Subsidized Federal Stafford Loan

On the other hand, the government is not entitled to pay for your interest in the following loans:

• PLUS Loans

• Unsubsidized Loans

You will still have to pay for any interest that you may receive within the duration of the deferment, but these additions will only need to be paid after the period. However, neglecting to pay your interest while the deferment period is ongoing may only increase your balance.

Talk to us to see if you can apply for a deferment!

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Call (866) 881-2741 today to go over your options.