Financial Aid Deferment Question

I have a BBA degree from an RA school and am currently at an RA graduate school. Afterwards, I want to go to Concord Law or Taft, which are DETC accredited, and I wanted to know if I would be able to defer my federal student loans.

I figured I may be able to because DETC is recognized by the U.S. Department of Education but I am not certain of that.

Does anyone know?

 

Ask the schools in question. They'll know.

I don't think you'll be able to defer unless the school you're attending is a participant in the federal financial aid program, but I might be mistaken.

You might also ask your lenders. They should know, and they're the ones who will process your request.

 

reply

You will have to start paying your loans back 6 months from the time that you graduated. As far as I know, the only way to get a deferment is for you to attend a school part-time (at least 6 credits) and it would have to be a school that participates in the federal study aid program. Let us know what you find out for sure.

 

No, attending a DETC accredited school does not make you eligible for loan deferment.

You should speak to your lender. You can request a forbearance for up to two years, which is basically a "hardship" request. You used to have to jump through lots of hoops to prove that you had a hardship (like show that you were unemployed), but now they generally just approve them. Be careful, though - you only get 2 years total of forbearance time, so at some later time you actually DO have a hardship, you will be out of luck.

Another option is to see if you can change your repayment terms. If you're currently making level student loan payments, they may be able to lower them for a year or two, as long as you agree to make higher payments in the end.