TEXAS A&M UNIVERSITY

DIVISION OF FINANCE - STUDENT BUSINESS SERVICES

In-school Deferment

A borrower may defer payment if he/she is enrolled in an eligible school at least half time as a regular student for a semester. Borrowers who are serving in a medical internship or residency program do not qualify for in-school deferment. Complete Form. Certification required.

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Graduate Fellowship Deferment

A borrower may defer repayment if he/she is enrolled and in attendance as a regular student in a course of study that is a part of a graduate fellowship program approved by the Department. Complete Form. Certification required.

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Rehabilitation Training

A borrower may defer repayment if he/she is enrolled in a course of study that is a part of a Department-approved rehabilitation training program for disabled individuals. Complete Form. Certification required.

A borrower may defer repayment for up to three years if he/she is seeking and unable to find full-time employment. Complete Form. Certification required.

Economic Hardship

A borrower may defer repayments for periods of up to one year at a time, not to exceed three years cumulatively, if he/she provides documentation of one of the following:

1. has been granted economic hardship DEFERMENT (not FORBEARANCE) for either a Stafford or PLUS loan for the same period of time for which the deferment has been requested. Complete Form. Copy of approved economic hardship deferment for Stafford or PLUS loan required;
2. is receiving a federal or state public assistance, such as Temporary Assistance to Needy Families Supplemental Security Income, Food Stamps, or state general public assistance. Complete Form. Copy of federal/state documentation required.
3. is working full time and is earning a total monthly gross income that does not exceed $937.50 ($1171.67 for Alaska, $1077.50 for Hawaii). Complete Form. Documentation required.
4. is not receiving total monthly gross income that is more than twice the amount in (3) above and that income minus an amount equal to the borrower's monthly payments on federal postsecondary education loans does not exceed the amount specified in (3) above. Complete Form. Documentation required.
5. is working full time and has a federal education debt burden that is 20 percentage or more of the borrower's total monthly gross income and the borrower's total monthly gross income minus such burden is less that 220 percentage of the greater of (3) above. Complete Form. Documentation required.
6. is serving as a volunteer in the Peace Corps. Complete Form. Certification required.

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Special Hardship deferment for loans made before 07/01/93

This deferment is separate and different from an economic hardship deferment. A borrower may defer repayment (unlimited) for hardship (as determined by the school) if borrower is facing a prolonged period of illness or unemployment. Interest will continue to accrue during the hardship deferment. Complete Form. Documentation required.

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A borrower may defer repayment if he/she is performing service that will qualify him/her for loan cancellation. Qualifying teaching and other service include:

• Teaching Disabled Students
• Teaching Special Education Students
• Teaching in Qualified Shortage Fields
• Nurse or Medical Technician
• Child or Family Services
• Professional Provider
• Law Enforcement or Corrections Officer
• Head Start
• Military
• Volunteer

Complete Form. Certification required.

A borrower may defer repayment for up to three years and interest will not accrue while he/she is:

• a member of the U.S. Army, Navy, Air Force, Marines, or Coast Guard;
• a member of the National Guard or the Reserves (full-time active duty);
• an officer in the Commissioned Corps of the U.S. Public Health Service;
• on full-time active duty as a member of the National Oceanic and Atmospheric Administration Corps;
• a Peace Corps or ACTION volunteer;
• a volunteer under Title I, Part A of the Domestic Volunteer Service Act of 1973;
• a working mother (up to 12 month deferment);
• temporarily totally disabled or unable to work because he/she must care for a spouse or other dependent who is disabled;
• serving in an internship or residency program.

Complete Form. Documentation and/or certification required.