In School Deferment of Federal Student Loans | 12.14.09
While you are in college you are not required to make any payments on your federal student loans. These loans do not go into repayment until you graduate. However, in particular instances your lender might not know you are in school and put your loans into repayment. In these cases you need to fill out an In School Deferment Form.
When to fill out an In School Deferment Form:
1: If you transferred schools
2: If you took time off from school and decide to go back
3: If you are going to graduate school
Where to send your In School Deferment Form:
You should send the form directly to your lender. If you do not know who your lender is you can contact the Department of Education’s Borrower Tracking Department at 800.433.3243. They will be able to tell you exactly where to send your form.
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I personally know of two people who are “perennial students” for the express purpose of avoiding repayment of their student loans. They keep taking courses year after year, with no realistic career goal in mind. Why isn’t evidence of some kind of progress required of “students” like these?
One of them is on SSI, so for her, taking courses to avoid repayment of student loans is really double dipping.
@T.J. – All schools should have a Satisfactory Academic Progress requirement in place. According to federal regulations, students are required to be pursuing a degree, and if they take 150% of the credits required for a degree, aid eligibility is revoked. This is to eliminate the “perennial student” issue, though I’m sure there are ways around it. Financial aid offices are busy places which can often lead to errors in documentation and situations where this can occur. Here is a link to report any known fraud relating to Department of Ed. funds: http://www2.ed.gov/about/offices/list/oig/hotline.html
Good information!
thats a little scary
very helpful information.
I can see why students in graduate school have such a huge debt afterwards.
very helpful indeed
this was a graet help
This was a great help
Very good information!
interesting info.
thank you. i got some great information
Good to know!
Since I’m in school, my senior year of high school, I’ve been worrying about how I’ll be paying off the loans when I graduate. I thought it would be smart to at least pay the interest of the loans so the loan itself doesn’t build up over time. I’m not sure if you’re allowed to do that though. I don’t understand why you wouldn’t be allowed to start paying it back whenever you wanted. Wouldn’t the lender want their money back asap?
That is something to know. I think I am going to send them an extension plea
good to know
so, do you need to comment in order to have a right to the points? do they track that you didn’t comment and take away those points? or is it really this easy?
I have completed this form since I was a returning student. It worked for me!
I’m glad they do have the deferrement for people to have the ability to go back to school even though they owe. It works out in the long run.
helpful and useful info.