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SCHOOL DEFERMENT REQUEST William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family Education Loan (FEEL) Program / Federal Perkins Loan (Perkins Loan) Program SCH OMB No. 18450011 Form
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How to fill out economic hardship deferment request

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How to fill out economic hardship deferment request

01
To fill out an economic hardship deferment request, follow these steps:
02
Download the economic hardship deferment request form from the official website of the loan servicer or lender.
03
Fill in your personal information, including your name, address, and contact details.
04
Provide details about your financial situation, such as your income, expenses, and any other financial obligations you have.
05
Attach supporting documentation, such as pay stubs, tax returns, or proof of unemployment, to validate your economic hardship.
06
Review the form for accuracy and completeness.
07
Sign and date the form.
08
Submit the completed form and supporting documents to the loan servicer or lender either by mail or through their online portal.
09
Keep a copy of the submitted form for your records.
10
Wait for the loan servicer or lender to review your request and notify you of their decision.

Who needs economic hardship deferment request?

01
Individuals who are experiencing financial difficulties and are unable to make their loan payments may need an economic hardship deferment request. This deferment is typically available for borrowers who are facing economic hardship, such as unemployment, low income, or significant financial obligations that make it difficult to meet their loan obligations. It provides temporary relief from making loan payments, allowing borrowers to stabilize their financial situation.
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An economic hardship deferment request is a formal application that allows borrowers facing financial difficulties to temporarily postpone or reduce their student loan payments.
Borrowers who are experiencing financial hardship, which may include unemployment, low income, or other significant financial challenges, are required to file an economic hardship deferment request.
To fill out an economic hardship deferment request, borrowers typically need to complete a specific form, provide personal and financial information, and may need to document their financial situation with supporting documents.
The purpose of an economic hardship deferment request is to provide relief to borrowers by allowing them to temporarily halt or reduce their student loan payments until their financial situation improves.
The information that must be reported on an economic hardship deferment request includes the borrower's personal details, income, employment status, expenses, and any other relevant financial information.
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