Yes, you can.  In fact, it is the most common type of deferment, and it is granted for one year with a three year maximum.  The start date is not the date of application, but the date that the economic hardship began.

There are four ways to qualify for this type of deferment:

  • You received an economic hardship deferment for another loan
  • You are receiving federal or state public assistance (e.g. welfare)
  • You are a Peace Corps volunteer
  • You are a low income earner employed full time (This is derived either from the federal minimum wage or 150% of poverty level based on family size

If you live in New Jersey and are struggling with payment on federal student loan debt, I may be able to be of assistance. Just download this questionnaire, fill it out, and then fax it to me at 856-686-9911 or e-mail it to me. I will then review it to determine if I can be of assistance and contact you to discuss representation.

Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.