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. 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 CollegeInvest.

• 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