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ECONOMIC HARDSHIP DEFERMENT REQUEST
Federal Family Education Loan Program
Use this form only if all of your outstanding Federal Family Education Loan Program loans were made on or after July 1, 1993,
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How to fill out ffelp economic hardship deferment

How to fill out ffelp economic hardship deferment:
01
Obtain the ffelp economic hardship deferment form from your loan servicer or their website.
02
Fill out your personal information accurately, including your name, address, and contact information.
03
Provide details about your student loan, such as the loan servicer's name and address, loan account number, and the type of loan you have.
04
Indicate the reason for requesting the deferment as an economic hardship. This could include unemployment, low income, or other financial hardships.
05
Describe your current financial situation in detail, including any sources of income, expenses, and any other relevant information that supports your claim for economic hardship.
06
Attach any required supporting documentation, such as recent pay stubs, unemployment benefit statements, or tax returns.
07
Review the completed form to ensure all information is accurate and signed.
08
Submit the filled-out form to your loan servicer either electronically or by mail, following their specific instructions.
Who needs ffelp economic hardship deferment:
01
Individuals who are facing financial difficulties and are unable to make their student loan payments due to circumstances such as unemployment, low income, or other economic hardships.
02
Borrowers with Federal Family Education Loan Program (FFELP) loans, which include Stafford Loans, PLUS Loans, or Consolidation Loans, who qualify for the economic hardship deferment.
03
Students who are enrolled at least half-time in an eligible educational institution, or within six months of graduation, who are unable to secure full-time employment or are earning a low income.
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What is ffelp economic hardship deferment?
FFELP economic hardship deferment refers to a program that allows borrowers with eligible loans to temporarily postpone their student loan payments if they are experiencing economic hardship.
Who is required to file ffelp economic hardship deferment?
Borrowers who are struggling financially and meet the eligibility criteria outlined by the FFELP program can file for economic hardship deferment.
How to fill out ffelp economic hardship deferment?
To fill out the FFELP economic hardship deferment form, borrowers need to provide their personal information, loan details, documentation of their income and expenses, and any additional required information specified by their loan servicer or lender.
What is the purpose of ffelp economic hardship deferment?
The purpose of FFELP economic hardship deferment 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 ffelp economic hardship deferment?
Borrowers must report their personal information, loan details, income, and expenses. They may also need to submit supporting documentation such as tax returns or proof of unemployment.
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