A deferment enables you to reduce or postpone temporarily re re re payments on your loan(s) if you’re going back to college, likely to graduate college, or entering an internship, clerkship, fellowship, or residency.
What exactly is education loan deferment?
If you’re wondering how exactly to balance having to pay your undergraduate loans with time for university, attending graduate school, or accepting an internship, clerkship, fellowship, or residency, a deferment might help.
Deferring re payments allows you to reduce or postpone your repayments. Once you request a deferment of a Sallie Mae undergraduate education loan, you won’t need to make major and interest payments while you’re at school or throughout your internship, clerkship, fellowship, or residency.
During deferment, your Sallie Mae loans will go back to the payment choice you initially selected (in other words., interest, fixed, or deferred). This means you originally took out your loan, you’ll continue to make those throughout your deferment period if you were making either monthly interest-only or fixed payments when. Continue reading “Deferring your loans while time for college or likely to graduate school”