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1 January, 17:35

What is the difference between forbearance and deferment?

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  1. 1 January, 17:54
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    A forbearance or deferment allows to stop making the federal student payment of loans or decrease the amount of payment for small interval of time, if some eligibility criteria is fulfilled.

    Deferment and forbearance main difference is,

    is that with the deferment, you are not responsible for the payment of the interest that accrues on the certain loans during the deferment period.

    But in case of forbearance,

    you are responsible for the payment of the interest which accrues on all the types of the federal student loans.
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