Deferment

Federal Perkins loan

You may be eligible to defer repayment of your Federal Perkins Loan principal (and in some cases, interest). Deferment is loan specific. If you receive Perkins loans at various times while you are a student, each loan may be covered by different statutory provisions due to legislative changes in effect at the time you received the loan. As a result, your eligibility for several deferments depends on the disbursement date of your loan (found in your promissory note). Some of your loans may qualify for a deferment while others may not meet the criteria. Depending on the type of deferment, interest may accrue during the deferment period. However, in some cases—such as a Perkins loan deferment based on student status—the accrued interest will be canceled when you successfully complete the deferment period.

If your loan was disbursed after November 1980, you are eligible for a six-month post-deferment grace period. If you have a Perkins from the University of Minnesota, you may request deferment by completing and submitting the deferment form printed on the back of your billing statement or by downloading the Federal Perkins Loan Deferment/cancellation Request. Be sure to include any required authorization or documentation before submitting the form to Student Financial Collections for prompt processing. You will receive notification explaining whether your deferment was applied, rejected, or returned to you for additional information. If your deferment request(s) has been approved, the University will temporarily postpone the payments due on your loans.

Deferment categories

Go to ECSI's Deferment Table for Perkins Loans for detailed eligibility on the following:

  • Dental residency
  • Dependent care
  • Economic hardship
  • Graduate fellowship
  • Internship/residency
  • Military service
  • National Oceanic & Atmospheric Administration (NOAA) Corps
  • Parental leave
  • Peace Corps, Vista, or Action
  • Rehabilitation training program
  • Student enrolled at least part time
  • Temporary or total disability of borrower or spouse
  • Unemployment
  • U. S. Public Health Service
  • Volunteer in tax-exempt organization
  • Working mother

Annual certification required

Call a Student Financial Collections representative for advice on how to proceed in your particular situation.