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ECONOMIC HARDSHIP DEFERMENT REQUEST OMB No. 18450011 Form Approved Exp. Date 9/30/2018William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family Education Loan (FEEL) Program / Federal

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 economic hardship deferment request form from your loan servicer. You can usually find this form on their website or by contacting them directly.
3. Review the eligibility criteria for an economic hardship deferment. Make sure you meet the requirements before proceeding.
4. Provide your personal information, including your name, address, social security number, and contact information.
5. Include details about your current financial situation. This may involve providing information about your income, expenses, assets, and any other relevant financial factors.
6. Explain the reasons for your economic hardship. This could include factors such as unemployment, loss of income, high medical expenses, or other financial challenges.
7. Attach supporting documentation to validate your economic hardship claims. This may include pay stubs, tax returns, medical bills, or other relevant financial documents.
8. Double-check all the information provided to ensure accuracy and completeness.
9. Sign and date the deferment request form.
10. Submit the completed form and supporting documents to your loan servicer as instructed. It is recommended to keep copies of all documents for your records.
11. Follow up with your loan servicer to confirm receipt of your deferment request and to inquire about the processing timeline.
12. Be proactive in making any required payments until your deferment request is approved to avoid any negative impact on your loan account.

Who needs economic hardship deferment request?

1. Economic hardship deferment request is typically needed by individuals who are facing financial difficulties meeting their loan repayment obligations. This may include individuals who have lost their jobs, experienced a significant decrease in income, encountered unexpected medical expenses, or other similar financial hardships. Eligibility criteria may vary depending on the specific loan program and lender. It is advisable to contact your loan servicer to determine if you qualify for an economic hardship deferment.

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What is economic hardship deferment request?

An economic hardship deferment request is a form submitted to request a temporary pause or reduction in loan payments due to financial difficulties.

Who is required to file economic hardship deferment request?

Borrowers who are facing financial hardship and are unable to make their loan payments may be 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 provide information about their financial situation and reasons for requesting the deferment.

What is the purpose of economic hardship deferment request?

The purpose of an economic hardship deferment request is to provide temporary relief for borrowers who are experiencing financial difficulties.

What information must be reported on economic hardship deferment request?

Information such as income, expenses, assets, debts, and any other relevant financial information must be reported on an economic hardship deferment request.