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OMB No 18450126 Exp. Date XXXXXXXX 60 Day Comment Period REPAYMENT SCHEDULE (VARIABLE RATE) for the Federal Health Education Assistance Loan (HEAL) Program U.S. Department of Education___ PRA Burden
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A borrower deferment request is a formal application submitted by a borrower to temporarily suspend or reduce their loan payments due to financial hardship or other qualifying circumstances.
Individuals who are experiencing financial difficulty, are enrolled in school, or meet other qualifying criteria may be required to file a borrower deferment request to obtain relief from their loan obligations.
To fill out a borrower deferment request, the borrower must provide personal information, details about the loan, and documentation supporting their reasons for requesting deferment, typically by completing a designated form provided by the loan servicer.
The purpose of a borrower deferment request is to allow borrowers to temporarily pause or lower their loan payments during periods of financial instability, educational pursuits, or qualifying life events.
The borrower must report personal identification details, loan account information, the reason for the deferment, and any supporting documentation that verifies their eligibility for the deferment.
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