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ECONOMIC HARDSHIP DEFERMENT REQUEST Student Access Loan Program / State Service Cancellable Loan Program WARNING: Any person who knowingly makes a false statement or misrepresentation on this form

How to fill out economic hardship deferment request

How to fill out economic hardship deferment request

1. To fill out an economic hardship deferment request, follow these steps:
2. Obtain the necessary forms: You can usually find the deferment request form on your loan servicer's website. Alternatively, you can contact your loan servicer directly to request the form.
3. Read the instructions carefully: Before filling out the form, make sure to read the instructions provided. This will help you understand the eligibility criteria and the information required.
4. Provide personal information: Fill in your personal details such as your name, address, Social Security number, and contact information.
5. Provide loan information: Enter the details of your loan, including the loan account number, loan servicer's name, and the type of loan you have.
6. State the reason for economic hardship deferment: Explain the reason why you are facing financial hardship and require deferment of your loan payments. Provide sufficient supporting documentation if necessary.
7. Sign and date the form: Ensure that you sign and date the form, as well as provide any additional required signatures.
8. Submit the form: Once you have completed the form, submit it to your loan servicer as instructed. You may need to mail the form or submit it online through your loan servicer's portal.
9. Follow up: After submitting the form, keep track of any communication or updates from your loan servicer regarding the deferment request. If necessary, provide any further documentation requested by your loan servicer.

Who needs economic hardship deferment request?

1. Economic hardship deferment request is needed by individuals who are facing financial difficulties and are unable to make their loan payments. It provides temporary relief by allowing the borrower to temporarily pause or reduce their loan payments for a specific period of time, typically up to three years. Economic hardship deferment is often granted to individuals who are experiencing unemployment, receiving public assistance, or facing other financial hardships that make it difficult for them to meet their loan obligations. However, eligibility criteria may vary depending on the type of loan and loan servicer. It is important to check with your specific loan servicer to determine if you qualify for economic hardship deferment.

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What is economic hardship deferment request?

An economic hardship deferment request is a formal application to temporarily postpone repayment of student loans due to financial difficulties.

Who is required to file economic hardship deferment request?

Borrowers who are facing financial hardship and are unable to make payments on their student loans are required to file an economic hardship deferment request.

How to fill out economic hardship deferment request?

To fill out an economic hardship deferment request, borrowers must contact their loan servicer and request the necessary forms. The forms must be completed with detailed information about the borrower's financial situation.

What is the purpose of economic hardship deferment request?

The purpose of an economic hardship deferment request is to provide temporary relief to borrowers who are facing financial difficulties and are unable to make payments on their student loans.

What information must be reported on economic hardship deferment request?

Information such as the borrower's income, expenses, employment status, and any other relevant financial information must be reported on an economic hardship deferment request.