Deferment
Eligibility
Once the repayment period has begun, you may be eligible for periods of deferment during which you may defer repayment of your Health Professions Student Loan (HPSL) principal (and in some cases, interest). A deferment of up to two years may be available if you are on a leave of absence to pursue an educational activity directly related to your intended health profession or if you are engaged in a qualified fellowship training program or full-time educational activity (if engaged within 12-months of completing advanced professional training). Periods eligible for deferment status are described below:
- Up to three years as a volunteer under the Peace Corps Act
- Up to three years as a member of a uniformed service, e. g., sustained full-time active duty in the Army, Navy, Air Force, Marine Corps, Coast Guard, National Oceanic and Atmospheric Administration Corps, or the U.S. Public Health Service
- Advanced professional training, including internships and residencies. For
HPSL loans made prior to November 18, 1971, limitations are imposed on periods
of advanced professional training that may be deferred. This information may
be obtained from the lending school. Advanced professional training includes
only:
- internship and residency programs; and/or
- full-time training of at least one academic year beyond the first professional degree that is provided by an accredited institution or an affiliate, that will advance the borrower's knowledge of and strengthen his/her skills in the health profession field for which s/he received the loan
- Full-time study at a school that participates in the HPSL program (applies to any HPSL loan made on or after November 4, 1988; repayment of principal may be deferred
- Up to two years if you leave school, with the intent to return to school
as a full-time student in an eligible health professions program (applies
to all HPSL loans of any borrower who is a full-time student after October
22, 1985)
- Up to two years while you participate in a fellowship training program or
full-time educational activity that is :
- directly related to the health profession for which you prepared as
a health professions student (as defined in HPSL regulations), and
- engaged in no later than 12 months after you complete internship or residency training (applies to any HPSL loan made on or after October 22, 1985).
- directly related to the health profession for which you prepared as
a health professions student (as defined in HPSL regulations), and
Process
The deferment process is not automatic. For consideration, you must compete and submit a Loan Deferment Request, along with any required documentation, for review and approval to Student Account Assistance, as follows:
- by the time your first installment is due;
- annually (may be requested more often) as long as you are eligible for deferment; and
- until your deferment status ends.
The deferment request form may be completed online and downloaded for your signature. You may also use the form printed on the back of any billing statement or request a form by contacting a Student Account Assistance representative. You will be notified, explaining whether your deferment was applied, rejected, or returned to you for additional information. If your deferment request(s) is approved, the University will temporarily postpone the payments due on your loans.
