Student Loan Deferment vs. Forbearance: What’s the Difference?

When it comes to your student loans, you may be wondering what the difference is between deferment and forbearance. Here’s a quick rundown of each option:

Student Loan Deferment:

With deferment, you can temporarily postpone making payments on your student loans. This option is typically available if you’re still in school or if you’re experiencing economic hardship.

Student Loan Forbearance:

With forbearance, you can temporarily stop making payments on your student loans. This option is typically available if you’re experiencing financial difficulties or illness.

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