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DPDM-132 Deferment & Forbearance Brochure 1212 Layout 1 11/30/12 10:07 AM Page 1 You graduated from college a few months ago; you haven't secured a job, and your first student loan payment is coming

How to fill out deferment amp forbearance

How to fill out deferment and forbearance:

1. Gather necessary information: Before filling out any forms, gather all the relevant information such as your loan account number, contact information, and financial documents (if required).
2. Identify the type of deferment or forbearance: There are various types of deferment and forbearance options available, such as economic hardship deferment, unemployment deferment, or general forbearance. Identify which option you qualify for and best suits your current situation.
3. Obtain the deferment or forbearance form: Contact your loan servicer or visit their website to obtain the specific deferment or forbearance form. These forms are often available for download and may vary depending on the type of loan and servicer.
4. Read instructions carefully: Take the time to carefully read and understand all the instructions provided with the form. Ensure that you have all the necessary documents and information required to complete the form accurately.
5. Fill out the personal information: Start by providing your personal information, including your name, address, contact details, social security number, and loan account number. Be cautious and double-check the accuracy of the information provided.
6. Complete the financial section: If the deferment or forbearance requires financial information, accurately fill out the section detailing your income, expenses, and any supporting documents required. Provide detailed information to reflect your current financial situation.
7. Provide necessary documentation: Attach any required documentation to support your deferment or forbearance request. This could include proof of unemployment, recent pay stubs, or other financial documents, depending on the specific deferment or forbearance type.
8. Review and sign the form: Carefully review all the information provided on the form. Ensure that there are no errors or missing information. Sign the form and date it as required.
9. Submit the form: Once you have completed the form and attached all necessary documents, submit it to your loan servicer. Follow their instructions on how to submit the form, whether it be through mail, fax, or an online portal.

Who needs deferment and forbearance:

1. Borrowers with financial hardships: Individuals who are facing financial hardships, such as unemployment, temporary disability, or economic difficulties, may be eligible for deferment or forbearance. These options provide temporary relief from making loan payments during challenging times.
2. Students still in school: Many loans offer deferment options for students who are still enrolled in school at least half-time. This allows students to focus on their studies without the immediate burden of loan repayment.
3. Individuals serving in the military: Military service members, especially those on active duty, may qualify for deferments or forbearance to accommodate their service commitments.
4. Graduates pursuing further education: Individuals who have recently graduated and are enrolled in a graduate school or professional program may be eligible for deferment or forbearance options while they continue their education.
5. Those experiencing economic hardships: Individuals who are facing unexpected financial challenges, such as medical emergencies or natural disasters, may qualify for deferment or forbearance options to temporarily suspend loan payments.

Remember, eligibility for deferment and forbearance varies depending on the type of loan and servicer. It is essential to understand your specific loan terms and contact your loan servicer for detailed information and assistance in filling out the deferment or forbearance forms.

For pdfFiller’s FAQs

What is deferment amp forbearance?

Deferment and forbearance are options to temporarily postpone or reduce student loan payments.

Who is required to file deferment amp forbearance?

Borrowers who are facing financial hardship or other qualifying circumstances may be required to file deferment and forbearance.

How to fill out deferment amp forbearance?

To fill out deferment and forbearance forms, borrowers must contact their loan servicer and follow the instructions provided.

What is the purpose of deferment amp forbearance?

The purpose of deferment and forbearance is to provide temporary relief from making full student loan payments.

What information must be reported on deferment amp forbearance?

Borrowers must report their financial situation and any qualifying circumstances that may make them eligible for deferment or forbearance.

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