Page 1 of 1
Timeline of undergrad loan deferment
Posted: Sun Jun 09, 2013 12:19 am
by 02889
I'm trying to figure out the specifics of my summer budgeting. If I have undergrad federal loans that'll be deferred, should I expect my last payment to be in July or in August? Thanks!
Re: Timeline of undergrad loan deferment
Posted: Sun Jun 09, 2013 12:22 am
by senorhosh
02889 wrote:I'm trying to figure out the specifics of my summer budgeting. If I have undergrad federal loans that'll be deferred, should I expect my last payment to be in July or in August? Thanks!
AFAIK, deferment doesn't start until after classes. Expect to be paying until Sept.
If you need, request a forbearance. It takes a week or so to process (for me, anyway). The only downside is the interest will be added to the principle but I don't think it'll make that much of a difference in the long run.