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ECONOMIC HARDSHIP DEFERMENT REQUEST OMB No. 18450011
Form Approved
Exp. Date 8/31/2021William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family
Education Loan (FEEL) Program / Federal
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How to fill out econ-hardship economic hardship deferment
How to fill out econ-hardship economic hardship deferment
01
To fill out the econ-hardship economic hardship deferment form, follow these steps:
02
Obtain the econ-hardship economic hardship deferment form from your loan servicer or download it from their website.
03
Read the instructions carefully to understand the eligibility criteria and documentation requirements.
04
Gather all the necessary supporting documents such as income statements, financial records, and any relevant proofs of hardship.
05
Complete the personal information section of the form, providing your name, address, social security number, and loan details.
06
Fill out the economic hardship section, describing your current financial situation and explaining why you are unable to make loan payments.
07
Attach the required supporting documents with the form, making sure to organize them properly.
08
Review the completed form and attached documentation for accuracy and completeness.
09
Sign and date the form.
10
Make copies of the filled-out form and supporting documents for your records.
11
Submit the completed form along with the copies to your loan servicer either by mail or through their online portal.
12
Keep a record of the submission receipt or confirmation for future reference.
13
Follow up with your loan servicer to ensure they received the form and to check the status of your deferment request.
Who needs econ-hardship economic hardship deferment?
01
Those who are facing severe financial hardship and are unable to make loan payments may need the econ-hardship economic hardship deferment.
02
This deferment option is designed for individuals who are experiencing economic difficulties such as unemployment, underemployment, or a significant reduction in income.
03
Eligibility requirements may vary depending on the loan program and lender, so it is important to check with your loan servicer to determine if you qualify for the econ-hardship economic hardship deferment.
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What is econ-hardship economic hardship deferment?
Econ-hardship economic hardship deferment is a temporary suspension of student loan payments for individuals who are experiencing financial difficulties that affect their ability to pay.
Who is required to file econ-hardship economic hardship deferment?
Individuals who are struggling financially and are unable to make their student loan payments are required to file for econ-hardship economic hardship deferment.
How to fill out econ-hardship economic hardship deferment?
To fill out the econ-hardship economic hardship deferment, borrowers should complete the appropriate application form, provide necessary documentation of their financial situation, and submit it to their loan servicer.
What is the purpose of econ-hardship economic hardship deferment?
The purpose of econ-hardship economic hardship deferment is to provide financial relief to borrowers facing economic challenges, allowing them to avoid default on their loans while managing their financial obligations.
What information must be reported on econ-hardship economic hardship deferment?
Applicants must report information such as income, expenses, family size, and any economic factors affecting their ability to pay back loans.
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