UG Loan deferment while in grad school?

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UG Loan deferment while in grad school?

Postby JohnV » Thu Jun 28, 2012 1:02 am

Here's my situation. I have loans coming up for payment in Jan 2014. I plan to apply to law school and attend in Fall 2013. I've looked but haven't found a definitive answer or any sort of help regarding this question. It would be pretty hard for me to pay my UG loans + living expenses while in law school so I'm hoping it is common practice to defer them to after Grad school but I'm not sure where to begin to see if that kind of thing applies to me.

Another scenario: I take a year off (I have a lot going on right now that means I can't apply early and my LSAT studying is seriously hindered because of all my occupational/educational/financial obligations) and apply for law school in 2013 for the Fall 2014. This would allow me more time for un-interrupted LSAT studying, more time to get quality LORs and a better PS, a slightly better GPA [could probably stretch my 3.76 to a 3.8] and a chance to clean up some of my credit-debt issues (which have been covered in a different thread). Now, clearly, I would have been out of school for about a year and a half at this point and my loans would have needed to be in repayment for about half a year. Am I able to do anything about deferring all or part (say, when I start law school in the Fall) of my repayment to a later date?

Thanks for all the help, this forum has been an invaluable (if not sometimes harsh and trollish! :roll: ) forum for me.

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Re: UG Loan deferment while in grad school?

Postby howlery » Sat Jun 30, 2012 2:03 pm

Federal loans are automatically deferred while enrolled full-time. You will still be charged interest on unsubsidized loans but will not be required to schedule payments. You can ask your LS financial aid office to verify that the lender has been notified. If you have private loans then deferring might not be possible, thats something only that lender can answer.

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