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Student Loan Deferment

dimlight85

dimlight85

bears, beets, battlestar galactica.
I'm thinking about deferring my student loans for a few months to take care of some other expenses that I have going on right now and according to forms from SallieMae, I qualify for deferment based on being on full active duty during a war.

Has anyone done this while in A-Pool? I thought I saw someone picking up the paperwork from the LT in flight management. Section 4 of the paperwork required for this says that it has to be filled out by a commanding officer or you can fax your orders along with it. I'd rather just fax my orders and just want to know if anyone has been successful in doing this?
 
KCOTT

KCOTT

remember to pillage before you burn
pilot
Actually, I was wondering the same thing. I had heard about this in DIVOLTC, this relates to the Sailors and Soldiers Civil Relief Act I think, right? I think you can defer it up to a total of 3 years. I might defer it up to two years for when LTJG pay kicks in.
 
dimlight85

dimlight85

bears, beets, battlestar galactica.
It's was changed to the National Servicemember's Civil Relief Act when it was updated a few years ago. I'm sure that's where it says we can do this but I actually found it on Sallie Mae's website under the deferment/forbearance link on their managemyloans.com site.
 
R

RHPF

Active Member
pilot
Contributor
dimlight85 said:
I'm thinking about deferring my student loans for a few months to take care of some other expenses that I have going on right now and according to forms from SallieMae, I qualify for deferment based on being on full active duty during a war.

Has anyone done this while in A-Pool? I thought I saw someone picking up the paperwork from the LT in flight management. Section 4 of the paperwork required for this says that it has to be filled out by a commanding officer or you can fax your orders along with it. I'd rather just fax my orders and just want to know if anyone has been successful in doing this?
Click to expand...

I did this while in A-Pool at API. I had the StuCon officer (can't recall her name), sign the form which was faxed to me by the FAFSA office. It was really easy to fill out, and it is 0% interest, 3 year deferment. Pretty tough to beat 0%...
 
dimlight85

dimlight85

bears, beets, battlestar galactica.
The only loans that will be deferred at 0% for the three years are the subsidized federal loan. All unsubsidized and private student loans should collect the interest set on them even while in deferment The interest charged will be added to the principle and will increase the life of your loan. However, if you're like me and will be paying student loans for 20+ years then it really won't make that big of a difference. In 5 years my payment will be the same that it is now but my income "should" be much more than it is now.
 
MrsPickle

MrsPickle

MIT- Manatee In Training
Contributor
Good info. I keep lighting a fire under Pickle's ass to get this done. Our loans are consolidated through Iowa Student Loan and they are fu#$ers about deferring for any reason. I mean, isn't being active duty good enough? They want you, not only deployed, but it has to be to a "war zone." Totally ghey.

If anyone has any success with this, let me know. We totally need to get his deferred to pay off some of our other debts. Like the OP said, we're going to be paying this crap off for 20+ years, so a little 'extra' interest is going to hurt. :yuck_125: It can't make 120k a whole lot worse than it already is, right?
 
dimlight85

dimlight85

bears, beets, battlestar galactica.
That first link is almost the same form that Sallie Mae has you fill out but instead of filling out section 4 you can send a copy of your orders.
 
dimlight85

dimlight85

bears, beets, battlestar galactica.
If you're in A-pool then I guess you just take the paperwork in to Student Control and they will attach a routing chit to it and get it up to whoever it is that needs to sign it. Either an LT or the Commander there should be able to sign it and get it back your way.
 
Ric Hard

Ric Hard

Registered User
It works with both SallieMae and Nelnet student loans. I called both lenders and let them know I was military active duty and they each mailed me a one page form to fill out. Faxed it back and about 10 days later they put my loans into deferment.
 
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