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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

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How to fill out economic hardship deferment request

01

To fill out an economic hardship deferment request, follow these steps:

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Step 1: Obtain the economic hardship deferment form from the appropriate source (such as the financial aid office of your educational institution or the loan servicer).

03

Step 2: Read the instructions carefully to ensure you understand the eligibility criteria and required documentation.

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Step 3: Gather the necessary documentation that proves your economic hardship, such as tax returns, pay stubs, or unemployment benefits statements.

05

Step 4: Complete the form by providing accurate and detailed information about your financial situation, including income, expenses, and any exceptional circumstances affecting your ability to repay the loan.

06

Step 5: Double-check the form for any errors or missing information before submitting it.

07

Step 6: Make copies of the completed form and all supporting documents for your records.

08

Step 7: Submit the form and supporting documents to the designated address or email provided on the form.

09

Step 8: Follow up with the loan servicer or financial aid office to ensure your deferment request is processed and approved.

10

Step 9: Once approved, continue making payments until you receive confirmation of the deferment.

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Step 10: Keep track of the deferment period and resume making payments once the deferment period ends or if your financial situation improves.

Who needs economic hardship deferment request?

01

Anyone who is facing financial hardship and is unable to make loan payments may need to fill out an economic hardship deferment request. This typically applies to individuals who have loans, such as student loans or mortgage loans, and are experiencing temporary financial difficulties due to reasons such as unemployment, low income, or a significant increase in expenses. The eligibility criteria for economic hardship deferment vary depending on the type of loan, so it is important to check with the loan servicer or financial institution for specific requirements.

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What is economic hardship deferment request?

An economic hardship deferment request is a request for temporary suspension of student loan payments due to financial difficulties.

Who is required to file economic hardship deferment request?

Borrowers who are experiencing financial hardship and are unable to make their student loan payments 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 need to provide information about their financial situation and reasons for the request.

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 their student loan payments.

What information must be reported on economic hardship deferment request?

Information such as income, expenses, employment status, and reasons for financial hardship must be reported on an economic hardship deferment request.

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