TEXAS A&M UNIVERSITY

DIVISION OF FINANCE - STUDENT BUSINESS SERVICES

Forbearance

Forbearance is a temporary postponement of payments (due to financial hardship, poor health, or for other acceptable reasons) where the note continues to accrue interest during the period of forbearance. Forbearance may be granted for a period of up to one year at a time not to exceed a total of three years. Complete Form. Documentation required.

deferment

Deferment is a temporary postponement of payments where the borrower is not required to pay loan principal and interest does not accrue. The borrower must request deferment annually (each semester for in-school deferment).

• In-school Deferment
• Graduate Fellowship Deferment
• Rehabilitation Training
• Seeking Full-time Employment
• Economic Hardship
• Concurrent Deferment (eligible for loan cancellation)
• Special Hardship deferment for loans made before 07/01/93
• Additional deferment for loans made after 10/01/80 and before 07/01/93

LOAN CANCELLATION for Teaching and Other Services

Effective October 7, 1998, all borrowers are entitled to have a portion of his/her loans cancelled for certain teaching and other services. For additional information - http://www.ed.gov/offices/OSFAP/Students/repayment/teachers. Complete Form. Certification required.

permanent and total disability

A borrower may be certified as permanently and totally disabled to the extent that he/she will not be able to be gainfully employed or continue his/her education and in some cases the loan be forgiven. Get Form. Certification required.