DELAY REPAYMENT OF A FEDERAL STAFFORD LOAN

If you have trouble meeting repayment obligations, you may be eligible to postpone or lower repayments for a period of time without hurting your credit.

Delay Payments with a Deferment

To delay payment on a Stafford Loan, you can apply for a deferment. If you are eligible, the government will pay the interest that accrues on your Subsidized Stafford Loan during the deferment period. (You will be responsible for repaying all accrued interest with an Unsubsidized Stafford Loan).

For example, you may be eligible for a deferment if you:

Have extended your enrollment period, or
Study at least half time at a postsecondary school, or
Are unable to find full-time employment, or
Have economic hardship

The Option of Forbearance

In other cases of financial difficulty, you may be eligible for forbearance. Forbearance lets you stop loan payments or reduce their amount for a period of time. You will be responsible for all of the interest that accrues during this period, whether the loan is subsidized or unsubsidized.

Let Us Help

If you need to postpone or reduce your payments, please notify our Customer Service Department at (877) 689-0763, or call your loan servicer for more information.

Download a Deferment or Forbearance Form

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Stafford Loans originated by Wachovia Education Finance Inc.

Equal Credit Opportunity Lender