Get the free Parent Plus Borrower Deferment Request - FSA Partner Connect

PARENT PLUS BORROWER DEFERMENT REQUESTOMB No. 18450011 DRAFT FORM Exp. Date XX/XX/XXXXWilliam D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family Education Loan (FFEL) Program PLUS

How to fill out parent plus borrower deferment

How to fill out parent plus borrower deferment

1. Gather necessary documents such as your loan information and proof of income.
2. Visit the loan servicer's website or contact them directly to obtain the Parent PLUS Borrower Deferment Request form.
3. Complete the deferment request form by providing all required information accurately.
4. Include any required supporting documentation, such as proof of financial hardship or enrollment status of the student.
5. Submit the completed form and documentation to your loan servicer via their preferred method (online, mail, fax).
6. Keep a copy of your submission for your records and follow up with your loan servicer to confirm receipt.

Who needs parent plus borrower deferment?

1. Parents who have taken out Parent PLUS loans to help finance their child's education and are experiencing financial difficulties.
2. Borrowers who are currently unemployed or facing economic hardship.
3. Parents of students who are enrolled in graduate school, as their deferment may be contingent on the student's enrollment status.

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What is parent plus borrower deferment?

Parent PLUS borrower deferment is a temporary postponement of loan payments for parents who have taken out PLUS loans to help their dependent children pay for college. During deferment, borrowers are not required to make payments, and interest may either accrue or be covered by the federal government depending on the loan type and specific circumstances.

Who is required to file parent plus borrower deferment?

Parents who have taken out Parent PLUS loans and are facing financial difficulties or other qualifying circumstances may be required to file for deferment. This includes parents who want to temporarily pause their loan payments due to unemployment, economic hardship, or while their child is still enrolled in school.

How to fill out parent plus borrower deferment?

To fill out the Parent PLUS borrower deferment, you need to complete a deferment request form provided by your loan servicer. The form typically requires personal information, details about your loan, and the reason for the deferment request. Make sure to collect any required documentation that supports your eligibility for deferment.

What is the purpose of parent plus borrower deferment?

The purpose of Parent PLUS borrower deferment is to provide financial relief to parents who need time to regain their financial footing without the pressure of making loan payments. It allows parents to focus on other financial obligations or expenses without worrying about their loan status during specific qualifying periods.

What information must be reported on parent plus borrower deferment?

When filing for Parent PLUS borrower deferment, you must report your personal information, loan account details, reason for deferment, and any supporting financial documents or information requested by the loan servicer.