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 and provide Iowa Student Loan with a request for deferment that shows your eligibility.
Select the links below for more information on the following Federal Stafford, SLS, PLUS, Grad PLUS and Consolidation loan deferments.
Most Common Deferment Options
The following deferments are currently the most commonly utilized 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 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 Form
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. The requirement that your monthly educational loan payment be at least 20% of your gross income was removed. If you have any questions please contact Iowa Student Loan.
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 a Peace Corps volunteer.
- 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 Economic Hardship Deferment Form
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Education Related Deferment Form
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 internship or residency.
- Deferment while Stafford or SLS borrowers teach in a designated teacher shortage area.
- 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 Education Related Deferment Form
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In-School Deferment Form
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 In-School Deferment Form
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Military Deferment Form
You may qualify for a Military Deferment if you have an outstanding FFELP loan first disbursed on or after July 1, 2001. Federal Consolidation loans are eligible for this deferment only if all of the Title IV loans included in the Consolidation Loan were first disbursed on or after July 1, 2001.
Effective Oct. 1, 2007, requirements changed for the Military Deferment. The three-year limit was lifted on this deferment. There is now an unlimited amount of time allowed to use in case of deployment for borrowers with FFELP, FDLP or Perkins Loans. In addition, the new law states that all loans – regardless of disbursement date – qualify for the deferment. 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.
Download Military Deferment Form
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Parental Leave/Working Mother Deferment Form
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 Parental Leave/Working Mother Deferment Form
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PLUS Borrower with Dependent Student Deferment Form
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 a dependent.
Download PLUS Borrower with Dependent Student Deferment Form
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Public Service Deferment Form
Borrowers must have at least one outstanding loan made before July 1, 1993.
A Public Service Deferment can be used for either:
- 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 Public Service Deferment Form
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Temporary Total Disability Deferment Form
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 upon an uncomplicated pregnancy.
Download Temporary Total Disability Deferment Form
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Unemployment Deferment Form
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 Unemployment Deferment Form
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