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STUDENT LOAN DEFERMENT AND CANCELLATION SUMMARIES
Student Loan Deferment Summary
DEFERMENT CONDITION Direct
Loans1,2
FFEL
Loans1,3
 Perkins
Loans
At least half-time study at a postsecondary school YES YES YES
Study in an approved graduate fellowship program or in an approved rehabilitation training program for the disabled YES YES YES
Unable to find full-time employment Up to 3 years Up to 3 years Up to 3 years
Economic hardship Up to 3 years4 Up to 3 years4 Up to 3 years4
Engaged in service listed under discharge/cancellation conditions (see below) NO NO YES5
Serving on active military duty during a waror other military operation or national emergency YES 6 YES 6 YES 6
1

For PLUS loans and unsubsidized student loans, only principal is deferred. Interest continues to accumulate.

2 Direct Loan borrowers who have outstanding balances on FFEL loans disbursed prior to July 1, l993 may be eligible for additional deferments.
3 Applies to loans first disbursed on or after July 1, l993 to borrowers who have no outstanding FFEL Program Loan, SLS Loan, or Consolidation Loan on the date they signed their promissory note.  (Note that the SLS Program was repealed with the 1994-95 award year.)
4 Many Peace Corps and VISTA volunteers will qualify for a deferment based on economic hardship.
5 More information on teaching service deferments can be found at Cancellation and Deferment Options for Teachers
6 If borrower was serving on or after Oct. 1, 2007, may qualify for an additional 180 day period following the demobilization date for the qualifying service
NOTE: You must formally request a deferment through the procedures established by the holder of your loan, and you must continue making payments until you're notified that the deferment has been granted.
Student Loan Discharge/ Cancellation Summary
CANCELLATION
CONDITION
Direct
Loans
 FFELP
Loans		 Perkins
Loans
Borrower's total and permanent disability4 or death 100% 100% 100%
Full-time teacher in a designated elementary or secondary school serving students from low-income families In some cases1 In some cases1 Up to 100%2
Full-time special education teacher (includes teaching children with disabilities in a public or other nonprofit elementary or secondary school) NO NO Up to 100%2
Full-time qualified professional provider of early intervention services for the disabled NO NO Up to 100%2
Full-time teacher of math, science, foreign language, bilingual education, or in other fields designated as teacher shortage areas NO NO Up to 100%2
Full-time employee of a public or non-profit child or family service agency providing services to high-risk children and their families from low-income communities NO NO Up to 100%2
Full-time nurse or medical technician NO NO Up to 100%2
Full-time law enforcement or corrections officer NO NO Up to 100%2
Full-time staff member in the education component of a Head Start Program NO NO Up to 100%2
Peace Corps or VISTA volunteer NO NO Up to
70%2
Service in the U.S. Armed Forces NO NO Up to 50% (in areas of imminent danger)2
Bankruptcy In rare cases3 In rare cases3 In rare cases3
Closed school (before student could complete program of study) or false loan certification Up to 100% Up to 100% Up to 100%
School does not make required return of loan funds to lender Up to the amount school required to return Up to the amount school required to return Up to the amount school required to return
Survivors of Victims of 9/11 Terrorist Attacks5 Up to the amount owed on 9/11/2001 Up to the amount owed on 9/11/2001 Up to the amount owed on 9/11/2001
1 Borrowers who are highly qualified elementary or secondary school teachers of science or math or highly qualified elementary or secondary school special education teachers may be forgiven up to $5,000 (up to $17,500 for some specialties) of the aggregate loan amount outstanding after completing the 5th year of teaching in designated elementary or secondary schools serving students from low-income families.
2 Service qualifies for deferment also.
3 Cancellation is possible only if the bankruptcy court rules that repayment would cause undue hardship.
4 If you are determined to be totally and permanently disabled based on a physician's certification, your loan will be placed in a conditional discharge status for three years. To qualify for a final discharge due total and permanent disability, you must meet the following requirements: (1) your earnings from employment must not exceed the poverty line amount for a family of 2; (2) you must not receive additional loans under the FFEL, Direct Loan or Perkins Loan programs. Obtain a loan discharge application here.
5 Check with Direct Loan Servicing Online for more information and an application.
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Federal Student LoansFederal Direct Loans
School Codes
FAFSA
School Code
002691
TAP
School Code
1404
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