A deferment is essentially a postponement of payment on a loan that is allowed under certain conditions and during which interest does not accrue on Direct Subsidized Loans, Subsidized Federal Stafford Loans, and Federal Perkins Loans. All other federal student loans that are deferred will continue to accrue interest. Any unpaid interest that accrued during the deferment period may be added to the principal balance (capitalized) of the loan(s).
Now… you are probably asking how do I qualify for one? The easiest way to find out is by calling one of our operators who can help you with exactly just that (or perhaps something even better)!. You can also follow up tomorrow where we will answer exactly that question.