Student Financial Services
Deferment & Forbearance
Definitions
- A Deferment
- allows you to postpone repayment and stops interest from accruing on most loans while you're in a specific qualifying situation. (The Direct Unsubsidized Loan does continue to accrue interest.) Not all loan programs offer the same types of deferment. Our Deferment/Forbearance chart details the options available for each loan program. It's important to review all of the loans you've borrowed and determine how to handle each one individually.
- A Forbearance
- allows you to temporarily reduce your monthly payments to interest-only payments. Interest continues to accrue on all loan types and must be paid each month.
Application Process & Important Tips
- You can choose to defer certain loans and continue paying others. Can you afford to repay some of your loans & postpone others?
- Deferment is a better option than forbearance because interest does not continue to accrue on most loans during deferment. Consider forbearance only in situations where you aren't eligible for deferment.
- Complete the application process with each of your servicers. Some forms have sections that must be completed by your employer, school official, or residency program director. Other forms may be returned directly to your servicer(s).
- The deferment/forbearance can only be granted in 3-12 month increments. You must reapply to extend the length of any approved deferment/forbearance.
- You'll be notified once the servicer has determined your eligibility. You may need to provide additional documentation if requested and you'll need to keep making payments until your application is approved.
- Keep track of your deferment/forbearance end-date and be prepared to reapply or for repayment to resume.
- TIP for Federal Perkins Loan borrowers: If you are currently unemployed or under employed (working less than 30 hours a week) and are actively seeking employment and/or you are receiving unemployment benefits, apply for an Unemployment Deferment. If you are working 30 hours or more and are experiencing financial hardship, apply for an Economic Hardship Deferment.
Types of Deferment
All Brown University Institutional Loan Programs
A borrower enrolled at least half-time at an eligible institution may defer repayment. Your school will need to complete a portion of this form.
Note: LDS or PCL require full-time enrollment for student deferment.
In School Deferment Application - Brown Institutional Loans ONLY
Federal Perkins Loan
A borrower enrolled at least half-time at an eligible institution may defer repayment. Your school will need to complete a portion of this form.
Federal In-School Deferment Form OMB 1845-0011
Federal Direct Loans
A borrower enrolled at least half-time at an eligible institution may defer repayment. Your school will need to complete a portion of this form.
Obtain the Federal form from your federal loan servicer.
Brown University Institutional Loan Programs
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Casperson, Kaplan, Medical, Plitt/Anderson, or Tarandi Loans: Up to three years on loans disbursed during or after the 2005/2006 academic year.
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Ellwood Loans: Up to three years on loans disbursed during or after the 2011/2012 academic year.
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LDS or PCL Loans: Up to three years for borrowers pursuing advanced professional training in primary care, including internships and residencies.
Your residency program must complete a portion of this form.
Residency Deferment Application
Federal Perkins Loans
Do not offer this deferment - you may apply for forbearance instead.
Federal Direct Loans
Do not offer this deferment - you may apply for forbearance instead
Obtain the Federal form from your federal loan servicer.
LDS or PCL Loans Only
A borrower is eligible for deferment for up to two years if participating in a fellowship training program or a full-time educational activity which is directly related to the health profession for which the borrower prepared at the Institution.
Deferment Application - Brown Institutional Loans ONLY
Federal Perkins Loans
A borrower may be eligible for deferment if enrolled and attending as a regular student in a graduate fellowship program approved by the Secretary or if engaged in graduate or postgraduate fellowship-supported study outside the United States.
Federal Graduate Fellowship Deferment Form OMB 1845-0011
Federal Direct Loans
A borrower may be eligible for deferment if enrolled and attending as a regular student in a graduate fellowship program approved by the Secretary or if engaged in graduate or postgraduate fellowship-supported study outside the United States.
Obtain the Federal form from your federal loan servicer.
Brown University Loan (POL16), Brown University 20th Century Loans Only
Deferment Application - Brown Institutional Loans ONLY
Other Institutional Loan programs do not offer this deferment - you may apply for forbearance instead.
Federal Perkins Loans
A borrower may be eligible to defer repayment if they meet any of the following criteria:
- Working 30 hours or more per week and meeting federal guidelines for financial difficulty.
- Receiving federal or state general public assistance.
- Facing a temporary disability
Federal Economic Hardship Deferment Form OMB 1845-0011
Federal Direct Loans
A borrower may be eligible to defer repayment if they meet any of the following criteria:
- Working 30 hours or more per week and meeting federal guidelines for financial difficulty.
- Receiving federal or state general public assistance.
- Facing a temporary disability
Obtain the Federal form from your federal loan servicer.
Brown University Loan (POL16), Brown University 20th Century Loan, Urban Education Loans Only
Deferment Application - Brown Institutional Loans ONLY
Federal Perkins Loan
A borrower may be eligible to defer repayment while out of work or working less than 30 hours per week AND actively seeking full time employment.
Federal Unemployment Deferment Form OMB 1845-0011
Federal Direct Loan
A borrower may be eligible to defer repayment while out of work or working less than 30 hours per week AND actively seeking full time employment.
Obtain the Federal form from your federal loan servicer.
Casperson, Ellwood, Kaplan, LDS, Medical, PCL, Brown University Loans Only
A borrower may be eligible for deferment for up to three years while serving as a volunteer under the Peace Corps Act.
Deferment Application - Brown Institutional Loans ONLY
Perkins Loans
A borrower may be eligible for deferment and subsequent cancellation while serving as a volunteer under the Peace Corps Act.
Casperson, Ellwood, Kaplan, Medical, Brown University Loans Only
A borrower may be eligible for deferment for up to three years while serving as a volunteer under AmeriCorp Vista; under the Section 603 of the Economic Opportunity Act of 1964.
Deferment Application - Brown Institutional Loans ONLY
Perkins Loans
A borrower may be eligible for deferment and subsequent cancellation while serving as a volunteer in AmeriCorp Vista.
Casperson, Ellwood, Kaplan, LDS, Medical, PCL, Brown University Loans
A borrower may be eligible for deferment for up to three years while serving as a member of the Armed Forces of the United States. (LDS or PCL define Armed Forces as the Army, Navy, Marine Corps, Air Force, Coast Guard, NOAA, or U.S. Public Health Service.)
Deferment Application - Brown Institutional Loans ONLY
Federal Perkins Loans
A borrower may be eligible for deferment only under certain specific guidelines related to Active Duty service.
Federal Military Deferment Form OMB 1845-0080
Federal Direct Loans
A borrower may be eligible for deferment only under certain specific guidelines related to Active Duty service.
Obtain the Federal form from your federal loan servicer.
Urban Education Loan Only
A borrower may defer repayment while completing qualifying service.
Loan Office Form
Institutional Loan Programs
Do not offer this deferment - you may apply for forbearance instead.
Federal Perkins Loans
A borrower may be eligible for deferment while they are receiving cancer treatment, and for the six months following the conclusion of their treatment. Loan must have entered repayment on or before 9/28/18.
Federal Perkins Loan Cancer Treatment Deferment Form
Federal Direct Loans
A borrower may be eligible for deferment while they are receiving cancer treatment, and for the six months following the conclusion of their treatment. Loan must have entered repayment on or before 9/28/18.
Obtain the Federal form from your federal loan servicer.
Types of Forbearance
Brown University Institutional Loans
N/A
Federal Perkins Loans
A borrower completing Americorp service may place their loans in forbearance and Americorp will pay the accruing interest.
Federal Direct Loans
Contact your federal loan servicer for information.
Brown University Institutional Loans
A borrower may apply to reduce monthly payment to interest-only.
Federal Perkins Loans
A borrower may apply to reduce monthly payment to interest-only.
Federal Forbearance Form OMB 1845-0031
Federal Direct Loans
A borrower may apply to reduce monthly payments to interest-only.
Obtain the Federal form from your federal loan servicer.