Loan Deferment Information

Loan Deferment Information


The repayment of all FFELP (Federal Family Education Loan Program), FDSLP (Federal Direct Student Loan Program) and Perkins loans may be deferred if a student is enrolled at an eligible institution at least half time with the purpose of gaining a degree or certificate.  An eligible institution of higher education is one that has been approved by the US Department of Education. For a detailed description of Westminster's enrollment status criteria, please refer to the Enrollment Status Chart in the Financial Aid section of the Academic Catalog.
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Many private student loans may also qualify for deferment, if a student is enrolled in a program of study.  (Please check with the bank that holds your private loan for detailed deferment eligibility criteria).

Deferment forms can only be completed for the current semester or previous semesters where the student was enrolled.  The enrollment status of a student in a future semester can not be certified on a deferment form.

If you have student loans from other institutions, please notify Westminster's Financial Aid Office.  You wil be added to Westminster’s enrollment monitoring list on the National Student Loan Data System (NSLDS) where your enrollment status wil be updated every two months.  Your loan servicer will periodically check your enrollment status on NSLDS to ensure that your loans continue to be eligible for deferment.


To defer a particular government (FFELP or Direct) loan, please:
• 
On the appropriate deferment form (see below), complete the borrower sections and the section indicating where the form should be sent (usually this will be the loan servicer*).
•  Submit the form to the Financial Aid Office (via mail, fax or in-person). 

The Financial Aid Office will:
  Complete the Authorizing Official's Certification section of the deferment form
  Fax or mail the form to the appropriate location indicated on the form

Please note that for Perkins Loans deferment, forms need to be completed each semester.

*If you are not sure who is servicing your loan, you may access this information by logging on to the NSLDS website using your FAFSA pin.  Other information you can access in NSLDS is your loan history, loan status (deferred, in repayment, in grace) and any outstanding balances on the loan.

To defer a priviate loan, please:
Contact the lending bank which can provide deferment information and any requisite forms to submit. 

 List of Deferment Forms
  FFELP and Direct Loan deferment form
  Parent Direct PLUS Loan deferment from (for parents who provided PLUS loans for undergraduate students).
•  Perkins deferment form: deferment forms for Perkins loans vary.  If you have a Perkins loan, please contact the financial aid office of the institution through which your loan was provided for the proper deferment form/procedures and the loan servicer.

Federal Direct Student Loan Program (FDSLP)Loan Deferment

The repayment of all FFELP (Federal Family Education Loan Program), FDSLP (Federal Direct Student Loan Program) Direct and Perkins loans can be deferred if a student is enrolled at least half time in an academic program working towards a degree.  Many private student loans may also qualify for deferment, if a student is enrolled at least half time in a degree program. (Please check with the bank who holds your private loan for detailed deferment information).
For Westminster’s enrolment status criteria please see the 2010-11 Academic Catalog page 153.

If you have previous student loans please notify the financial aid office.  We will include you on Westminster’s enrolment monitoring list on the NSLDS (National Student Loan Data System) website.  Westminster will update your enrolment status with NLSDS every two months.  Your loan servicer will usually periodically check your enrolment status on NSLDS to ensure continued deferment eligibility.

To defer a particular loan complete the appropriate deferment form and submit it to the financial aid office.  Please indicate where the completed form should be mailed or faxed.  The financial aid office will complete the form and either fax or mailed to the holder of the loan.

If you are not sure who is servicing your FFELP or Direct loan(s) please log-on to the NSLDS website using your FAFSA pin.  You may check your loan history and see their status (deferred, in repayment, in grace), outstanding balances and who their servicers are.  

FFELP deferment form:
http://www.youcandealwithit.com/docs/in-school-deferment.pdf

Direct Loan deferment form:
https://www.dl.ed.gov/borrower/PDFFrames.jsp?PDF=defer_sch_auto.pdf

Parent Direct PLUS Loan:
https://www.dl.ed.gov/borrower/PDFFrames.jsp?PDF=defer_edu_auto.pdf

If you have a Perkins loan please call the financial aid office of the school where your loan was provided.  The school will have information concerning deferment forms/procedures and the loan holder.

To defer private loans please contact the lending bank, who can provide deferment information and any requisite forms to submit.