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Deployment & Student Loans?
My reserve unit is being deployed in a year or so. However, I am (and still will be) in college at that time and I have student loans. I know under regular circumstances you have to start paying on student loans after 6 months of not going to school. Since I will be deployed for 15ish months, will I have to begin paying on my loans then? I plan on finishing my degree when I get back...
3 Answers
- Student LoansLv 41 decade agoFavorite Answer
The good news is, you will have one less thing to worry about while you are on deployment. Yes you can defer your Federal Student Loans payments if you are deployed for military service. You do have to apply for this deferment with your current lender; you are also limited to 3 years of deferment.
My suggestion would be to get the documents needed, filed as soon as possible so you don't have to worry about it after you have left the country. For more information on deferment and for a link to the appropriate document(s) needed please visit the source below.
Be safe while you are abroad, good luck, and also, thank you very much!
- Anonymous1 decade ago
You can defer your student loan payments if you are in the military. You must fill out some paperwork and send to your lender to do so.
Keep in mind that in deferment (unless you have a subsidized Stafford) your interest will continue to accrue and will be capitalized (added to the loan) so if there's any possible way to make the interest payments while you're deployed, it's a good idea.
Good luck.
- 1 decade ago
i would talk to the financial aid office at your school, i'm assuming that you wont have to start paying the loans, but there are probably forms or something that needs to be filled out. the fin aid office would know who you need to talk to or what you should do.