Qualifying for the Economic Hardship Deferment is not all that hard, and it is the absolute most popular of this deferment types, because it’s relatively simple to show.
Economic hardship deferments continue for a time period of one at a time, and are available for a maximum of three years in total year.
When you can provide supporting paperwork for just one associated with after groups, then you’ll definitely immediately be eligible for a a student-based loan deferment for financial hardship:
- Previous Qualification – If you’ve currently qualified for the financial difficulty deferment under another federal loan system, then just providing that proof will qualify you for the financial difficulty education loan deferment
- Receipt of Federal or State Public Assistance Benefits – If you’re receiving payments under any federal or state public assistance programs, like SSI, TANF, Food Stamps, etc., and you will show it, then you’ll qualify for the economic difficulty deferment
- Peace Corps Volunteers – If you can easily prove that you’re working being a Peace Corps volunteer, you’ll automatically be eligible for a an financial difficulty deferment