Boston Bankruptcy Lawyer
Deferring Your Student Loans
Paying for a college education can be quite a costly endeavor. Many students require the aid of student loans to help fund their college years. Once their schooling is complete, however, they must begin the repayment of this money. Depending on the type of loan taken out, a graduate may have several payments to maintain. Sometimes, keeping up with on-time payments can be too much for one to handle. Under certain circumstances, the deferral of student loans is a feasible method of regaining control over one’s debt and finances.
How Does One Qualify for a Student Loan Deferral?
In order to qualify for a student loan deferral, a candidate must meet one of the following conditions:
- Permanent or temporary complete disability
- Unemployment
- Return to school
- Acceptance into an academic internship or fellowship
- Enlistment in the armed services
- Working in community service (such as the Peace Corps)
- Teaching in a low-income area
- Employment in health services or law enforcement
- Various other situations, approved by Congress
If any of the above pertains to your particular situation, then you are most likely eligible to qualify for student loan deferral. Deferrals exist for both privately and federally funded student loans. Be sure to check with your lending agency to ensure that you can in fact apply for a deferral.
Contact Us for More Information
If you feel that you are in need of a student loan deferral and would like more information on what steps to take next, please contact the Boston bankruptcy lawyer of Joshua Spirn & Associates today at 1-800-975-5346.
