SECTION 4: DEFERMENT AGREEMENT
I hereby request a deferment for all of my EIFC owned private loans. I certify that I am unable to make payments according to the present
terms of my loan(s). I understand that any unpaid interest will be added to the outstanding principal balance of my loan(s) at the end of the
deferment period. My monthly payments will be calculated at the end of the deferment period based on the new principal balance (including
capitalized interest, if any) and will extend my repayment period. I understand that interest will continue to accrue on the unpaid principal
balance (including capitalized interest, if any) during the deferment period and the extension of the repayment period. The owner reserves
the right to obtain a copy of my credit report. Additional debt incurred or preferential payments to other creditors could result in the denial
or termination of my deferment request. I understand that should my situation under which I applied for deferment change; I must notify
AES Graduate and Professional Services. I also certify that the above information is true and correct to the best of my knowledge. I
understand that misrepresentation may lead to the denial of my request.
I consent to the lender and any other owner, holder, servicer, guarantor or insurer of my account to contact me about my account via
autodialer or similar device and/or using a prerecorded or artificial voice or message for any lawful purpose utilizing any cellular telephone
number(s) I provide, even if I am charged for the call under my phone plan. Providing my mobile or alternative telephone number(s) and
electronic mail address(es) to the lender is voluntary and I am under no obligation to do so. If I do not elect to provide a mobile or
alternative telephone number, or electronic mail address, it will not affect the consideration or disposition of my deferment request.
I have read and understand and agree to the terms of this deferment request.
Borrower's Signature Co-Signer's Signature (If Applicable)
Date
Return Completed Form To: American Education Services * P.O. Box 2461 * Harrisburg, PA 17105-2461
Deferment Definitions
In School Deferment
> This deferment is for a maximum period of five (5) years from disbursement and is requested by providing
valid school certification of at least half-time enrollment in a U.S. Department of Education approved
school.
> Documentation for this deferment type includes:
1. Completed & Certified Deferment Form; or
2. Letter from school certifying enrollment level, dates of enrollment, and anticipated graduation date.
Economic Hardship Deferment
> This deferment is for a maximum period of three (3) years and is applied in three (3) month increments by
evidencing the borrower meets one of the following requirements:
1. Earns less than minimum wage.
2. EIFC monthly loan installments equal 20% or more of the monthly gross income.
> Documentation for this deferment type includes:
1. Recent pay stub (within the last 30 days) that clearly indicates the pay period.
2. Documentation of monthly payments due on EIFC owned loans not serviced by AES.
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