Stafford Loan Deferment?

Paying for College
1

<p>Hey I have to start paying my stafford loan back in 2 weeks, and I still haven't found a job and am out of money...I was going to start borrowing advances from my credit card (WHICH I DON"T WANT TO DO, OBVIOUSLY) to start paying it back, but then I read if you're unemployed you can defer the loan for up to a few years. Well, I really just want to defer for a month or two until I have a job and a couple hundred saved up.</p>

<p>How do I go about this? I'm searching the internet but I don't know which sites are legit or how to go about the forms to fill out...etc. Can someone link me to the info on who to contact and how to defer, how long it takes, etc.?</p>

<p>Thanks</p>

2

<p>You can apply for an economic hardship deferment (I’m assuming your loans are Stafford or Perkins loans). If you have no job, you will have no payments. Call whomever is the originator of your loan and find out what you have to do to complete this. I forget the name of the exact program…but basically, you can apply to pay based on your salary at a reduced rate from what the original payment schedule dictates. If your repayment is due in two weeks…get moving, however. They typically like these things done in advance!!</p>

<p>If your payments are due soon, you MUST have some kind of statement…there should be contact information on that.</p>