Deferment ?????

Discussion in 'General Distance Learning Discussions' started by jmcmurry, Aug 24, 2004.

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  1. jmcmurry

    jmcmurry New Member

    Has anyone graduated (with a Masters) and then enrolled in a class to take advantage of the deferment program that the Federal Government has (defer paying the loan back while enrolled in school)

    Can you take any classes as long as the add up to part time (ie - 6 units???)

    jm
     
  2. jmcmurry

    jmcmurry New Member

    No one has done this?
     
  3. ncavac

    ncavac New Member

    I had done this. You can defer untill 6 months past graduation. Intrest will incure.
     
  4. jmcmurry

    jmcmurry New Member

    Thanks for replying !

    So how do I apply for deferment...do I just register at any college/jr/community/university and they do the rest?
     
  5. tmartca

    tmartca New Member

    I am looking at a second master's and trying to defer using this method also. From what I remember, in order for your loans to be deferred, you will have to be enrolled at least half-time in a graduate program. So you can't just apply as a non-degree student and take a class or two.

    Also, you have to have classified standing. I believe they allow you to be conditionally classified for up to one year, then you need to be fully classified, but I'm not completely sure of this.

    Try Cal State Fullerton, they have plenty of grad degree programs, so if something interests you go for it. Also, if you don't mind a little bit of a commute try Cal Poly Pomona. They have a financial aid policy for second graduate degrees that allows you to receive an additional year of financial aid. At Cal State Fullerton, according to the finacial aid policy in their catalog, they won't give you financial aid for a second masters.

    BTW, if you have subsidized loans, the interest will not accrue until you are required to repay. So as long as you are in the degree program going at-least half-time, you are okay.
     
  6. Ding

    Ding New Member

    When you graduate or leave school you have a "grace period" of 6 months (for Federal Stafford or Federal Direct Loans) or 9 months (for Federal Perkins) before you need to begin repayment.

    If you are enrolled at least 1/2 time in a degree seeking program, you can keep your loans in deferment as long as you stay enrolled. Simply taking classes "for fun" doesn't qualify - you have to be an admitted student in a program. During the term of your in-school deferment, your loans will remain in whatever interest-accruing state that they were while you were originally enrolled.

    In order to defer your federal student loans from a previous school, your new school needs to report your enrollment status to the National Student Loan Clearinghouse. This will generally happen automatically. Since the Clearinghouse tends to run about 8-10 weeks behind, however, the most efficient way to handle this is to request an In-School Deferment Request form from your lender, and ask the Registrar's Office of your new school to complete it and send it to your lender.

    Ding
    FA Specialist
     
  7. iquagmire

    iquagmire Member

    Does this apply to DETC accredited schools? I have my undergrad and grad degrees from RA schools and as long as I am in school I can defer. I want to go to either William Howard Taft law or Concord law, both of which are DETC accredited. DETC is recognized by CHEA and the Department of Education.

    Do you think I will be able to defer my loans this way?
     
  8. Ding

    Ding New Member


    No, only attending a regionally accredited school can qualify you for a loan deferrment. DETC schools do not qualify.
     
  9. Myoptimism

    Myoptimism New Member

    I believe that a student enrolled in a program at any school that participates in federal financial aid (having accreditation from ACICS, ACCSCT, some other NA, any RA, but NOT DETC at this time) qualifies for deferment.

    Tony
     

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