Deferment
If you find you need to postpone repayment on your federal student loans, a deferment may be the best option. As long as you meet certain specified conditions, you are entitled to a deferment on your federal loans. You must contact Iowa Student Loan and provide a request for deferment that shows your eligibility.
Select the links below for more information on the following Federal Stafford, Supplemental Loans for Students (SLS), PLUS, Grad PLUS and Consolidation loan deferments.
Most Common Deferment Options
The following deferments are currently the most commonly used by all borrowers.
Additional Deferments
The following deferments require that a borrower have at least one outstanding loan made before July 1, 1993.
If you have unsubsidized Stafford, Parent PLUS or Grad PLUS Loans, when you defer payments, interest will accrue and will be added to your loan; therefore, deferring payments for an extended period of time may substantially increase your loan balance. Iowa Student Loan strongly encourages you to make payments that at least cover your accrued interest to avoid increases in your loan balance.
If you have private loans through Iowa Student Loan, you may also be eligible for deferment. Contact Iowa Student Loan for assistance with a private loan deferment.
Economic Hardship Deferment
All outstanding loans for the borrower must be made on or after July 1, 1993.
Effective Oct. 1, 2007, the law that governs the requirement of an applicant applying for a FFELP Economic Hardship Deferment changed. The poverty line for an applicant has been raised to 150% of the poverty line for the borrower’s family size. When you apply for this deferment you will be required to inform Iowa Student Loan of your family size.
An Economic Hardship Deferment can be used for any of the following:
- Deferment while Stafford, SLS, PLUS or Consolidation borrowers are experiencing economic hardship and meet the income qualifications listed on the deferment form.
- Deferment for Stafford, SLS, PLUS or Consolidation borrowers who serve as Peace Corps volunteers.
- Deferment for Stafford, SLS, PLUS or Consolidation borrowers who are receiving or received payments under a federal or state public assistance program.
- Deferment for Stafford, SLS, PLUS or Consolidation borrowers who have been granted an economic hardship deferment under the William D. Ford Federal Direct Loan Program or the Federal Perkins Loan Program.
Download the Economic Hardship Deferment Form (PDF)
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Education Related Deferment
Borrowers must have at least one outstanding loan made before July 1, 1993, to qualify for the following deferment types:
- Deferment while Stafford, SLS or PLUS borrowers complete their internships or residencies.
- Deferment while Stafford or SLS borrowers teach in designated teacher shortage areas.
- Deferment while Stafford, SLS, PLUS or Consolidation borrowers complete their graduate fellowship or receive rehabilitation training. (All borrowers may qualify regardless of when outstanding loans were made.)
- Deferment for PLUS borrowers based on graduate fellowship of dependent.
Download the Education Related Deferment Form (PDF)
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In-School Deferment
The In-School Deferment is for Stafford, SLS, PLUS or Consolidation borrowers enrolled in school as either full-time or half-time students.
Note: PLUS borrowers must be attending school.
Download the In-School Deferment Form (PDF)
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Military Deferment
You may qualify for a Military Deferment under one of the following:
| You are on active duty during: |
You are on qualifying National Guard duty during: |
- A war.
- Other military operation.
- A national emergency.
|
Loan Status — Repayment
If you're currently in a repayment status on your loans, other than in an in-school deferment or graduate fellowship deferment status, a deferment can be granted for the expected period of your active duty, beginning on the first day of active duty.
Additional Military Extensions
There are three additional loan extensions you may qualify for under the Military Deferment.
Loan Status:
In-school, Grace,
In-school Deferment,
or Graduate Fellowship Deferment |
| If... |
Then... |
| You're currently in an in-school, in-school deferment or grace period status on your loan(s), |
You are entitled to maintain that status during a period in which you are on active duty or reassigned, plus the time necessary for you to resume enrollment in the next regular enrollment period if you return to school. This extended status can not exceed a total of three years, including the period of time necessary to resume enrollment. |
| You chose not to return to school after your deactivation, |
You may be eligible for a Post Active Duty Student Deferment. See details below.
|
|
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180-Day Extension |
If you were on active duty on or after Oct. 1, 2007, your deferment will be extended an additional 180 days after your deactivation. Please contact Iowa Student Loan to see if you qualify for this additional time. |
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Post Active Duty Student Deferment |
You may be eligible for a Post Active Duty Student Deferment if you are a member of the National Guard or Reserve (including a member in retired status) and are called or ordered to active duty service (eligible national or state duty) and when you are deactivated you chose not to return to school.
You must be enrolled at least half time in an eligible school at the time of or within six months prior to your activation and your service must include a period on or after Oct. 1, 2007. Please contact Iowa Student Loan to see if you qualify for this deferment.
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Request Form
This deferment request form may be completed by you, your family or other reliable source.
Download the Military Deferment Request Form (PDF)
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Parental Leave/Working Mother Deferment
Borrowers must have at least one outstanding loan made before July 1, 1993.
A Parental Leave/Working Mother Deferment can be used for either:
- Deferment for Stafford or SLS borrowers who are working mothers who meet income eligibility requirements.
- Deferment for Stafford or SLS borrowers on parental leave.
Download the Parental Leave/Working Mother Deferment Form (PDF)
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PLUS Borrower with Dependent Student Deferment
Borrowers must have at least one outstanding loan made before July 1, 1993.
A PLUS Borrower with Dependent Student Deferment can be used for:
- Deferment for PLUS borrowers with dependent students enrolled in school either full time or half time.
- Deferment for PLUS borrowers based on rehabilitation training of dependents.
Download the PLUS Borrower with Dependent Student Deferment Form (PDF)
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Public Service Deferment
Borrowers must have at least one outstanding loan made before July 1, 1993.
A Public Service Deferment can be used for:
- Deferment for Stafford or SLS borrowers with at least one outstanding loan made before July 1, 1993, on full-time active duty in the Armed Forces or National Oceanic and Atmospheric Administration, or as Commissioned Officers in the Public Health Service.
- Deferment for volunteer Stafford or SLS with at least one outstanding loan made before July 1, 1993, in the Peace Corps, ACTION program or tax-exempt organization.
- Deferment for PLUS borrowers with at least one outstanding loan made before Aug. 15, 1983, on full-time active duty in the Armed Forces or as Commissioned Officers in the Public Health Service.
- Deferment for volunteer PLUS borrowers with at least one outstanding loan made before Aug. 15, 1983, in the Peace Corps, ACTION program or tax-exempt organization.
Download the Public Service Deferment Form (PDF)
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Temporary Total Disability Deferment
Borrowers must have at least one outstanding loan made before July 1, 1993.
The Temporary Total Disability Deferment can be used for:
- Deferment based on the temporary total disability of Stafford, SLS, PLUS or Consolidation borrowers, or the temporary total disability of a spouse or dependent.
Borrower’s medical doctor will need to verify one of the following:
- Borrower is/was unable to work or attend school for at least 60 consecutive days.
- Borrower is/was unable to work for at least 90 consecutive days due to caring for a dependent.
This deferment cannot be granted based on an uncomplicated pregnancy.
Download the Temporary Total Disability Deferment Form (PDF)
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Unemployment Deferment
This deferment is available for all federal loan borrowers.
Unemployment Deferment can be used for:
- Deferment for unemployed Stafford, SLS, PLUS or Consolidation borrowers; features a 24- or 36-month limit.
Download the Unemployment Deferment Form (PDF)
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