Forms
A number of programs are available to borrowers who may be having difficulty making loan payments.
A deferment allows you to temporarily delay repayment of your student loans for a specified period of time. There are many different situations that would make a student eligible to defer their payments. The most frequently used deferments are because of unemployment, enrollment in school, or economic hardship.
A forbearance is an option available to students who are not eligible for a deferment. If you are financially unable to make your student loan payments, you may be eligible for this temporary suspension or reduction of payments. A forbearance may be granted if federal student loan debt exceeds 20% of the borrower's gross income. Forbearance will not eliminate any prior derogatory credit history.
The Big Difference between deferments and forbearances is that the federal government will pay the interest that accrues on your subsidized loans while those loans are on deferment. The borrower is responsible for the interest that accrues on unsubsidized loans on deferment and for the interest that accrues on both subsidized and unsubsidized loans on forbearance. If the interest is not paid, it will be capitalized (added to the principal balance) at the end of the deferment or forbearance period.
Student Loan Form Selector - use our Form Selector to determine which deferment or forbearance form is right for you.
Complete list of forms - view our complete list of available forms to manage your student loan account.
NCHELP's English-Spanish Glossary of Student Financial Aid and Postsecondary Education (PDF) - use this glossary to search over 2,500 terms related to financial aid and higher education.
Questions?
If you have questions about completing a form, please contact the Edfinancial Servicing Center via email or toll-free at 1-800-337-6884. Your student loan servicer needs to be aware of your situation in order to provide you with the appropriate information and instructions.
Completed forms should be signed and mailed to:
Edfinancial Services
P.O. Box 36014
Knoxville, TN 37930-6014
Fax: (865) 692-6386