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OMB No. 18450011 Form Approved Exp. Date 9/30/2018ECONOMIC HARDSHIP DEFERMENT REQUEST William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family Education Loan (FEEL) Program / Federal
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How to fill out deferment on a loan

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How to fill out deferment on a loan

01
Contact your lender or loan servicer to request a deferment application.
02
Fill out the deferment application form completely and accurately.
03
Attach any necessary supporting documents, such as proof of financial hardship or enrollment in a recognized educational program.
04
Submit the completed application and supporting documents to your lender or loan servicer.
05
Wait for the lender or loan servicer to review your application and make a decision.
06
If approved, follow any additional instructions provided by the lender or loan servicer, such as providing updated financial information at specified intervals.
07
Continue to monitor your loan account and make any required payments during the deferment period, if applicable.
08
Once the deferment period ends, resume making regular loan payments as scheduled.

Who needs deferment on a loan?

01
Individuals who are facing financial hardship and are unable to make their loan payments
02
Students who are currently enrolled in a recognized educational program
03
Borrowers who are experiencing a temporary loss of income or unemployment
04
Military servicemembers on active duty
05
Individuals with personal or medical emergencies
06
Borrowers participating in a loan forgiveness or repayment assistance program
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Deferment on a loan is when the borrower is allowed to temporarily postpone making payments on the loan.
The borrower is typically required to file for deferment on a loan.
To fill out deferment on a loan, the borrower usually needs to contact the lender and submit a deferment request form along with any required documentation.
The purpose of deferment on a loan is to provide temporary relief to borrowers who are facing financial difficulties and are unable to make loan payments.
Information such as the borrower's financial situation, reasons for requesting deferment, and supporting documentation may need to be reported on deferment on a loan.
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