Private Student Loan Deferment

Free College Scholarships

Private student loan deferment allows you to postpone payment for a number of reasons. Most student loan lenders provide private student loan deferment options so that while you are in school, you have no financial obligation and can focus on your studies.

Common Deferment & Forbearance Options

Although not all of these will apply to all private student loans, many lenders support them and will honor your desire to remain current on your accounts during times of hardship or while in-school. If ineligible for a deferment, many lenders offer the similar option of forbearance, which allows you to temporarily lower payments.

  • In-School Deferment

    Postpone all payments while in school until after graduation or dropping below half-time in your degree program. Most lenders offer a 6-month grace period upon graduation before payments are scheduled to begin.

  • Economic Hardship Deferment/Forbearance

    If you are not confident in your ability to make your payments and remain current on your student loan, you can ask to have payments temporarily deferred. In most cases, the maximum length of this type of deferment is 3 years or 36 months. Interest will continue to accrue during this period.

How to Request a Deferment

To request a deferment on your student loan, you will need to contact the loan lender directly. If you're unsure who your lender is, a great way to find out is by requesting a copy of your credit report. Free credit reports are available at

Apply for Student Loan Consolidation

Did you know that consolidating your private student loans could potentially lower your monthly payments as well as your interest rate? At, you can calculate your potential savings, compare lenders, and apply, all in one place! Get Started Now »

Other Repayment Relief Options for Borrowers

If you cannot get a deferment or forbearance on your private student loan, there are other ways to reduce your payments and potentially lighten your monthly financial obligations.

  • Reign in credit debt.

    In this day and age, it's likely that you probably have at least a little credit debt on top of what you are paying for student loans. There are lots of ways to trim down what you are paying each month for those accounts, which subsequently makes paying your existing private student loans easier. Tools like balance transfer allow you to move your high interest balances to lower ones, which will save you money every month.

  • Repair or improve your credit score.

    Along the same lines, the better your credit gets, the lower your potential interest rate on everything from credit cards to car loans to loan consolidations. This of course will save you a lot of money (and frustration!) in the long run.

  • Consolidate your private student loans.

    Private student loan consolidation is an easy way to instantly reduce your payments by up to 50% at the cost of more interest overall and a lengthened repayment term. The trick is deciding what is more important, making your payments month-to-month or shouldering the smallest debt overall?