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If you have federal student loans, you can learn about repayment plans, deferment and forbearance, and other options to help you repay your loans. National Student Loan Data System (NSLDS®) NSLDS.ed.gov Find out who is servicing your federal loans with NSLDS’s comprehensive database. DOD and VA Military Information Programs MilitaryOneSource ...
The SCRA, enacted in 2003, is a federal law that provides protections for military members as they enter military service. Under SCRA guidelines, the interest rate on financial obligations obtained by a servicemember prior to military service is capped at 6% during eligible periods of military service.
Military Service Deferment. By checking this box, I request that my loan holder defer repayment of my eligible loan(s) beginning on the date I began performing the military service that qualifies me for the deferment and ending 180 days following completion of my qualifying military service. Post-Active Duty Student Deferment.
Determine if your federal student loans are eligible for a deferment or forbearance. Take Our Eligibility Quiz. Suspending payments can have a big impact on the overall cost of repaying your student loans. Consider making payments to limit the interest that may capitalize (be added to your balance) over time.
Military Service Deferment. Student loan borrowers who are called to active duty (or performing National Guard duty) during a war, military operation, or national emergency may be eligible to defer federal student loan payments from the time of mobilization for up to 180 days following qualifying service.
During a deferment you aren't required to make payments, but you're responsible for any interest that accrues on all loan types except subsidized Stafford and subsidized consolidation loans. When your deferment ends, any unpaid interest is added to the amount you borrowed—this is called capitalization .
ACTIVE DUTY FOR FEDERAL AND PRIVATE LOANS. You may be eligible to postpone your student loan payments while serving active duty military service or in the National Guard on qualifying duty in connection with a war, valid contingency operation, or national emergency and for 180 days immediately following demobilization.
PHEAA conducts its student loan servicing operations for federally-owned loans as FedLoan Servicing. Accessibility: The Department of Education is committed to providing electronic and information technologies that are accessible to individuals with disabilities by meeting or exceeding the requirements of Section 508 of the Rehabilitation Act ...
If you cannot submit a deferment request form or other documentation, a verbal request from you or your representative is acceptable, while pending documentation. Deferment based on a verbal request is limited to an initial 12-month period. If you have any questions about the Military Service Deferment, please contact one of our loan specialists.