Should I temporarily defer?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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LittleBlueBird
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Joined: Wed Jun 29, 2011 11:52 pm

Should I temporarily defer?

Postby LittleBlueBird » Wed Feb 22, 2012 6:46 pm

I haven't been able to get anyone at the financial aid office from my undergrad institution to return my calls, and I'm feeling frantic right now, so perhaps you guys can help me out.

I finished undergrad last year, my Federal Loans are kicking in on top of my private ones which I am already paying a little over $500 for per month. I seriously can't afford to pay more than I already am without using every penny that I'm currently bringing in.

I am absolutely starting law school this fall, and will be going to one of the schools who have offered me a full ride. However, because I won't be working, I MUST be able to take out more federal loans in order to cover living expenses during at least 2 of the 3 years.

So what are my options? If I defer my federal undergrad loans now, will I be able to obtain more federal loans this fall, or will they deny me if I do?

03121202698008
Posts: 3002
Joined: Fri Jul 17, 2009 2:07 am

Re: Should I temporarily defer?

Postby 03121202698008 » Wed Feb 22, 2012 6:58 pm

I'm pretty sure that's what deferral is for. They are deferred while you are in school. Just notify your servicer you are re-entering qualifying education.




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